Providence, R.I.-based Care New England has reported an operating margin of minus 1.76 percent for fiscal year 2023.
The figure is an improvement on the minus 4.76 percent margin as of September.
The three-hospital system reported its fewest days of cash on hand in the past few years, totaling 45.8. Care New England was also below compliance on its debt coverage obligations.
The effects of the pandemic have "drastically impacted financial performance," Care New England management said in the filing.
The system reported an operating loss of $16.9 million for the nine months ended June 30 on revenue of almost $1 billion, an improvement from a $31.6 million loss in the same period of 2022. Expenses rose 4 percent.