The 24 biggest hospitals in Orange County, Calif., saw revenue increase by 9.1% to $11.3 billion in revenue for the year ended Sept. 30, 2023, the Orange County Business Journal reported Feb. 19.
The healthy revenue growth suggests the county's hospitals have recovered from the pandemic, the report said.
The growth comes after the hospitals saw a 7.9% revenue increase in 2022 and a 9.6% increase in 2021. Compared to a $3.5 million loss in 2022, the hospitals saw a combined rebound of $597 million in profit in 2023, the publication reported.
Below are some other findings from the report:
- The largest percentage growth came from Orange-based Children's Hospital Orange County with a 33% increase to $1.2 billion. Its sister hospital, Children's Hospital Orange County at Mission Hospital in Mission Viejo, reported a 19% increase, or $108 million.
- Irvine-based UCI Health reportedly saw a 14% jump, or $1.85 billion, due to growth through expanding bed numbers and opening new facilities.
- Newport Beach-based Hoag Memorial Hospital Presbyterian reported growth of 10%, or $1.5 billion.
- The combined revenue of three Providence hospitals in Orange County — Orange-based St. Joseph Hospital; Fullerton-based St. Jude Medical Center; and Mission Viejo-based Mission Hospital — was $2.5 billion.
- MemorialCare Orange Coast Medical Center in Fountain Valley reported a revenue increase of 15%, or $449 million. Its sister hospital Saddleback Medical Center in Laguna Hills increased 1.3%, or $429 million.