Mass General Brigham reports operating loss, but overall income up in latest quarter

Somerville, Mass.-based Mass General Brigham reported a $1 million operating loss for its latest quarter as it continued to struggle with labor expenses.

The six-community-hospital system actually reported an operating loss of $53 million for the three months ended Dec. 31 if exceptional items such as a pandemic-related federal grant is not included. Overall income totaled approximately $480 million, up from almost $105 million in 2021.

"Mass General Brigham's financial performance continues to be impacted by external pressures, including a severe capacity crisis, elevated cost inflation and significant workforce vacancies," management said in the Feb. 10 filing.

Operating expenses for the period totaled $4.5 billion, up 8.7 percent from the same period in 2021.

The latest figures come after Mass General Brigham said it is implementing a number of cost-cutting measures following reported losses of over $2 billion in fiscal 2022.

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