St. Louis-based BJC HealthCare reported an operating income of $141.6 million (2% margin) in 2023, improving on the $48 million loss (-0.7% margin) it posted the previous year.
Revenue for the health system increased 11% year over year to $6.9 billion while expenses rose 9% to $6.8 billion, according to financial documents published Feb. 28. Labor costs increased 6% to $3.5 billion and supply costs jumped 15% to $2.9 billion.
After accounting for nonoperating items, including $560.9 million in investment returns, BJC ended 2023 with a net profit of $736.5 million, compared to a loss of $170.3 million the previous year.
Net assets at the end of 2023 totaled $8.6 billion, compared to $8 billion in 2022.