Chicago-based CommonSpirit reported an operating loss of $331 million (-3.5% operating margin) in the first quarter of fiscal 2025, an improvement from a $402 million operating loss (-4.7% margin) reported over the same period last year, according to its Nov. 18 financial report.
CommonSpirit reported total operating revenues of $9.4 billion for the three months ended Sept. 30, up 10.7% from the same period last year. Net patient service revenues increased 10.9% year over year to $8.5 billion. Premium revenue increased 1.8% to $401 million. Other operating revenue increased 21.1% to $459 million.
"Our modest revenue increases, while encouraging, affirm our continued focus on receiving the revenue we are entitled to for services provided," CFO Dan Morissette said in a Nov. 18 news release. "Our multi-pronged strategy to improve operating performance will ensure we are able to deliver on our mission to improve health in the communities we serve for generations to come."
The system reported total operating expenses of $9.7 billion in the first quarter of 2025, a 9.4% increase over the same period last year. Salaries and benefits increased 6.3% year over year to $4.8 billion. Supply costs increased 10.4% year over year to $1.5 billion.
CommonSpirit posted a net income of $189 million in the first quarter of 2025, up from a net loss of $699 million in the first quarter of 2024.