Philadelphia-based Thomas Jefferson University, owner of Jefferson Health, posted a $77.6 million operating loss (-3% margin) in the first fiscal quarter of 2025, compared to a $48 million operating loss (-2% margin) in the same quarter last year, according to its Nov. 12 financial report.
Jefferson posted total revenue of $2.6 billion in the three months ended Sept. 30, up from $2.4 billion over the same period last year. Net patient service revenue was $1.6 billion in the quarter, up from $1.5 billion in the same quarter in 2024. Insurance premium revenue was $512.1 million, down from $548 million over the same period last year.
Total expenses were $2.6 billion in the first quarter, up from $2.4 billion over the same period last year. Salaries and wage expenses totaled $1 billion, up from $961.8 million over the same period last year. Insurance service medical expenses were $441 million, up from $385.3 million. Supply costs totaled $185.3 million, up from $174.4 million.
Jefferson posted a net income of $13.2 million in the quarter, up from a net loss of $186.6 million over the same period last year.
Jefferson merged with Allentown, Pa.-based Lehigh Valley Health Network on Aug. 1. The systems' reporting requirements had not been consolidated for the first quarter of 2025. Reporting requirements are expected to be unified for the second quarter, according to the report. LVHN's first quarter results were included separately in Jefferson's report.
LVHN reported a $12.9 million operating loss (-1.1% operating margin) in the first quarter, an improvement from an operating loss of $36.2 million (-3.5% margin) over the same period last year. The system posted revenues of $1.2 billion, up from $1 billion. Expenses totaled $1.2 billion, up from $1.1 billion.
LVHN posted a net income of $43 million in the quarter, up from a net loss of $66.1 million over the same period last year.