Somerville, Mass.-based Mass General Brigham, which is in the process of cutting costs by $176 million over the next 18 months, has reported an operating income of $69.4 million in its latest quarter.
The operating profit came even as the 12-hospital system saw expenses rise 10 percent to total $4.8 billion in the third fiscal quarter ending June 30.
"The labor and supply cost pressures that began to intensify last spring have moderated but continue to impact operating performance," Mass General Brigham management said.
Overall income totaled $437.5 million for the quarter and $1.3 billion for the nine months ending June 30. That compares with losses of $949 million and $1.7 billion, respectively, for the same periods last year.