NYC Health + Hospitals ended the third quarter with an operating loss of $122.8 million — compared with an operating income of $58.3 million for the same period in 2021 — as revenues declined and expenses increased year over year, according to unaudited financial statements.
The 11-hospital system reported operating revenues of $3.2 billion in the three-month period ended Sept. 30, down 5.1 percent from revenues of $3.4 billion in the same period in 2021.
Third-quarter total operating expenses increased marginally to $3.4 billion year over year. Within its expenses, affiliation contracted services was $384 million, an 11.2 percent increase compared to the same period last year.
Early next year, NYC Health + Hospitals is expected to open Ruth Bader Ginsburg Hospital, the first new public hospital in New York since 1982, according to the health system. It was funded through a $923 million grant from the Federal Emergency Management Agency.