Durham, N.C.-based Duke University Health, which operates one of the largest hospitals in the country, reported an operating loss of almost $70 million in the second half of 2022 even as it posted an overall profit.
While operating revenues were up compared with the same period in 2021, expenses increased 10.5 percent in the six months ended Dec. 31 to total $2.4 billion.
Overall income for the period totaled $28.8 million, boosted by positive returns on investment income. That figure compared with net income of $140.2 million in the same period in 2021.
As well as Duke Regional Hospital and Duke Raleigh Hospital, the system operates Duke University Hospital in Durham with 1,048 licensed beds.
Duke University Health promoted Craig Albanese, MD, to be the system's next CEO Feb. 9 from his position of COO. He will take up his new position at the end of March.