Jacksonville Fla.-based Baptist Health has reported an overall improved net income in its most recent quarter, as investment values received a boost and offset increased expenses.
While the six-hospital system saw its expenses rise 11 percent to total $537.5 million in the three months ending Dec. 31, much improved investment performance resulted in the $110.3 million gain in 2022, compared with $74.8 million net income in the same period in 2021. Non-operating gains, including investments, totaled $92.3 million, a 76 percent jump on 2021 levels.
The system, which also operates three freestanding emergency centers and employs over 12,000 people, had 384 days of cash on hand as of Dec. 31, compared with 485 as of Dec. 31, 2021.