Cambridge, Mass.-based Beth Israel Lahey Health reported a $138.8 million operating loss (-6.1% margin) for the three months ending Sept. 30, down from a $10.6 million operating gain (0.5% margin) during the same period last year.
Revenue for the quarter increased 15.6% year over year to $2.26 billion while expenses grew by 23.3% to $2.39 billion, according to financial documents published Dec. 13.
Net loss for the three-month period, the fourth quarter of fiscal year 2024, was $33.2 million, down from a $239.2 million net income in the same quarter in 2023.
For the fiscal year ending Sept 30, Beth Israel Lahey reported a $248.9 million operating loss (-2.8% margin), down from a $131.2 million operating loss (-1.7% margin) in FY 2023.
As of Sept. 30, long-term debt for the health system was $1.98 billion.