Phoenix-based Banner Health reported an operating income of $182.7 million (2.4% margin) for the first six months of 2024 ended June 30, compared to a $162.7 million operating gain (2.3% margin) during the same period in 2023, according to the health system's Aug. 19 financial report.
The health system reported a net income of $529.2 million for the first six months ended June 30, 2024, a 17% increase compared to $453.8 million over the previous period in 2023.
Banner saw total revenues of $7.5 billion for the six months ended June 30, 2024, up 9% from $6.9 billion during the same time period last year.
The health system's total expenses increased 8.5% to $7.3 billion. Salaries, benefits and contract labor also increased 4% from $3 billion to $3.1 billion for the first six months of 2024.