Children's Hospital Los Angeles reported an overall fiscal year 2022 loss of $116.9 million compared with net income of $61 million last year.
The loss was due mainly to increased expenses as 2022 revenues increased 4.4 percent to total $1.38 billion. Expenses rose, mainly from salaries and employee benefits, to total $1.36 billion compared with $1.26 billion the prior year.
In the three months ending Sept. 30, the hospital group reported a net loss of $25.5 million compared with a loss of $3.7 million in the same period last year. The 2022 three-month period included a net investment loss of $15 million compared with $3.4 million last year.