Hollywood, Fla.-based Memorial Healthcare reported a net loss of approximately $104.7 million for the six months ended Oct. 31, including a $95.6 million loss in the last three months of that period. The numbers compare with a net gain of $50.9 million and $12.9 million for the same periods, respectively, in 2021.
While operating revenue was up slightly in 2022 over the previous year, salary and benefit expenses dragged the overall numbers down — $725.2 million were spent on such expenses in the six-month period of 2022, compared to $622.4 million last year. Non-operating expenses were also up significantly, increasing to $85.1 million from last year's $7.7 million.
Two of the system's six hospitals lost money during 2022, compared with just one in 2021. All six hospitals reported better financials in 2021 than in 2022, with the top performer being Pembroke Pines, Fla.-based Memorial Hospital West, which reported a net income of $39.3 million in 2021, compared with $15.5 million this year.