Tuscaloosa, Ala.-based DCH Health Care reported an operating loss of $45.8 million in 2022, building on a 2021 loss of $70.2 million, according to an April 21 filing.
The three-hospital system, which suffered a credit downgrade March 29, had an overall loss of $35.1 million compared with a loss of $10.1 million in 2021. Days of cash on hand were at their lowest in recent years, S&P Global said, totaling approximately 150.
"The negative outlook also reflects DCH's lower DCOH that is expected to remain pressured and provides minimal cushion to the existing rating," S&P said.
DCH operates a total of 848 licensed beds across its system.