Winston-Salem, N.C.-based Novant Health reported operating income for the year ended Dec. 31 of $68.2 million on just under $7.6 billion of revenue.
The operating income figure compared with a $369 million gain in 2021 as expenses rose 6.5 percent. The 15-hospital system reported an overall loss of $222.8 million in 2022 compared with a gain of $812 million the year before.
Novant Health laid off about 50 workers, including multiple C-level executives, March 29.
The health system, which operates in its home state as well as South Carolina and Georgia, employs approximately 35,000 people.