The three largest nonprofit health systems, CommonSpirit Health (140 hospitals), Ascension (139 hospitals) and Trinity Health (88 hospitals), reported operating losses and margins in the red for the six months ending Dec. 31, but experienced slight improvements in performances in the final quarter of the year.
Here's how the three systems' finances compare, according to their most recent financial documents.
1. Chicago-based CommonSpirit Health reported $451 million in operating losses for the six-month period ending Dec. 31, down from $47 million for the same period in the prior year.
Total operating revenue for the period decreased 0.7 percent year over year to $17.3 billion while operating expenses increased 1.6 percent to $17.8 billion. CommonSpirit's operating margin for the second half of 2022 was -2.6 percent, down from -0.3 percent for the same period in 2021.
After factoring in nonoperating items, including a $238 million return on investments, CommonSpirit, recorded a net loss of $221 million for the second half of 2022.
2. St. Louis-based Ascension recorded a $410 million operating loss in the second half of 2022, compared with an operating income of $31 million during the same period last year.
Total operating revenue increased 0.8 percent year over year to $14.3 billion while total operating expenses increased 3.7 percent to $14.7 billion. Ascension's operating margin fell to -2.9 percent in the six months ending Dec. 31, down from 0.2 percent for the same period in 2021.
After factoring in nonoperating losses, including a loss of $798.6 million from investments, Ascension posted a net loss of $1.2 billion for the six months ending Dec. 31, 2022.
3. Livonia, Mich.-based Trinity Health reported a $298 million operating loss for the six months ending Dec. 31, down from a $296 million operating gain in the same period in 2021.
Total operating revenue for the six-month period increased 2.3 percent year over year to $10.5 billion. Total expenses increased 6.7 percent year over year to $10.7 billion. Contract labor jumped 52 percent to total $405 million as Trinity absorbed acquisitions, notably the buying out of CommonSpirit in the MercyOne venture. Trinity's operating margin for the six months ending Dec. 31 was -2.6 percent, down from a positive margin of 1.6 percent for the same period the prior year.
After factoring in nonoperating items, including a $134 million return from investments, Trinity posted a net loss of $70 million for the six months ending Dec. 31.