Dartmouth-Hitchcock Health recorded a net loss in the quarter ended March 31, which the Lebanon, N.H.-based system attributed to a steep decline in patient volume during the COVID-19 pandemic, according to recently released financial documents.
Dartmouth-Hitchcock Health recorded a net loss of $150.3 million in the three months ended March 31. This compares to a net income of $46.9 million recorded in the same period in 2019.
The net loss included an operating loss of $59.3 million and nonoperating losses of more than $90.9 million.
Overall, the health system recorded revenue of $562.8 million in the third quarter of fiscal year 2020, down from the $569.4 million recorded in the third quarter of fiscal 2019.
Dartmouth said that it continued to experience growth in patient volume until the second week of March, due to the suspension of elective procedures. The health system said it incurred a revenue loss of $34.6 million in March.
Dartmouth also saw its expenses rise in the third quarter to $622.1 million, up from $567.4 million in the same quarter in fiscal 2019.