Minneapolis-based Fairview Health Services posted a $41 million operating loss on $1.8 billion in revenue in the second quarter, down from a $95.2 million loss in the prior-year period, according to the Star Tribune.
Total revenues, which includes investment income, exceeded expenses by $3.7 million, improving on a $166.5 million loss during the second quarter of 2022.
"Traveling nurse expense is definitely down year over year" and the health system is running its operating rooms more efficiently, Fairview CFO Joe Gaylord told the Tribune. "We're anticipating demand further in advance and making sure that all the pieces are in place to meet that demand. Part of that is staffing — we've been able to hire more people."
However, Fairview is on track to lose about $150 million on healthcare operations in 2023, which would bring the system's combined operating loss over a five-year period to about $900 million, according to the report.
The second-quarter results come on the back of last month's news that Fairview and Sioux Falls, S.D.-based Sanford Health have scrapped their proposed plan to merge into a 50-hospital system. The systems had experienced multiple delays since the planned merger was announced in November.