Columbia, Md.-based MedStar Health reported a net loss of approximately $200 million in fiscal year 2022, as the healthcare group faced a "volatile" investment market, and warned that things are unlikely to change in the near future.
While realized investment in the period was positive with a net gain of $38.3 million in the year ending June 30, MedStar reported unrealized losses on investment totaling $330.3 million compared with a gain in 2021 of $453.8 million. Overall, the group's net loss totaled $199.3 million.
"The ability of the system to generate investment income and realized gains is dependent in large measure on market conditions," MedStar said in its financial statements. "The market value of its investment portfolio, as well as its investment income, has been volatile in the past, and this volatility may continue in the future."
MedStar Health operates ten hospitals in Washington D.C., and Maryland, including the Georgetown University facility in the nation's capital, which was recently ranked among the top of its peers.