CommonSpirit sees salaries and benefits climb to 57% of revenue

Chicago-based CommonSpirit, which reported an operating loss Nov. 15 of $441 million for the first quarter of fiscal 2024, saw its salaries, wages and benefits increase 3.9% over the same period last year.

The increase led to such expenses representing 57.4% of net revenues, up from 53.6% for the same period in 2022. Adjusted for the California provider fee, such expenses totaled 55.4% of revenue in the first quarter compared with 56.9% in 2022.

Salaries and benefits for the quarter totaled $4.7 billion compared with $4.5 billion in the same period in 2022.

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