Providence, R.I.- based Lifespan reported net income of $15.3 million for the final quarter of 2022, even as its expenses rose 7.4 percent higher than the same period in 2021.
Improved investment performance, which almost tripled over the same period in 2021 as well as increased operating revenue totaling $766 million for the quarter, helped boost the overall performance of the health system.
Operating income totaled $4.9 million, versus a loss of $18.6 million in 2021. The overall $15.3 net income figure compared with a $13 million loss in 2021.
Lifespan, whose obligated group consists of three hospitals and two foundations, has recently appointed new top executive leadership, including a new CEO and CFO.