Eight things to know:
1. Other expenses, primarily $860 million in interest costs, left CHS with a $362 million net operating loss (-2.9% margin) for 2024, compared to a $16 million net operating gain (0.1% margin) the previous year.
2. Revenue increased 1.2% year over year to $12.6 billion while expenses grew by 4.9% to $12.1 billion. Labor costs held steady at $5.4 billion.
3. On a same-store basis, net operating revenues increased 5.5% YOY in 2024. Net operating revenues for 2024, reflect a 3.2% decrease in admissions and a 3.4% decrease in adjusted admissions, compared to 2023. On a same-store basis, admissions increased 3.2% and adjusted admissions increased 2.7% YOY.
4. “We continue to make meaningful progress in key strategic areas, and we were especially pleased with demand for our services and strong same-store volume growth,” CEO Tim Hingtgen said. “As we look forward to 2025, we remain confident in our portfolio, optimistic about our future opportunities, and grateful to our clinicians and support teams who consistently deliver high-quality care for their patients.”
5. CHS reported an overall net loss of $516 million (-4.1% margin) for 2024, compared to a $133 million net loss (-1.1% margin) in 2023.
6. Adjusted EBITDA for 2024 was $1.54 billion compared to $1.45 billion in 2023.
7. The for-profit system ended 2024 with 76 hospitals in its portfolio, but on Jan. 31 divested its 50% interest in Merit Health Biloxi (Miss.) to Gulfport, Miss.-based Memorial Health System. The sale, first announced in November, is part of CHS’ $1 billion divestiture plan.
8. As of Feb. 18, CHS and its subsidiaries own or lease 75 affiliated hospitals with more than 11,000 beds and operate more than 1,000 care sites.