Columbia, Md.-based MedStar Health transformed a $32.9 million operating loss in the first quarter of 2022 to a $400,000 gain in the first quarter of 2023 even as expenses rose 5.2 percent.
The three-month period, which saw revenue climb 7.2 percent to total $1.93 billion, was echoed by the nine months ending March 31 when revenue rose to $5.7 billion as expenses climbed 5.4 percent.
The 10-hospital system received a $98.7 million boost of Federal Emergency Management Agency funds May 8, after the reporting period.
Its days of cash on hand totaled 130 as of March 31 compared with 168 at the same time in 2022. Long-term debt was stable at $1.78 billion.