Median operating margins declined in July for the first time since March but still remained in positive territory, Becker's reported Aug. 28, citing Kaufman Hall's latest National Hospital Flash Report.
With several nonprofit health systems reporting financial results for the period ending June 30, here's a comparison of some of the bigger systems and their most recently reported operating results and margins. Before March and the beginning of positive margins of up to 1.4 percent, the first two months of the year showed 0.7 and 0.9 percent negative margins, according to Kaufman Hall.
- Renton, Wash.-based Providence reported an operating loss of $547 million in the first half of 2023 on revenue of $14 billion, resulting in an operating margin of -3.9 percent.
- Mayo Clinic reported an operating income for the first half of the year of $449 million on $8.7 billion of revenue, an operating margin of 5.1 percent.
- Charlotte, N.C.-based Advocate Health reported $85.7 million of operating income in the first half of 2023 on revenue of $15.19 billion, an operating margin of 0.6 percent.
- Cleveland Clinic reported an operating margin of 0.2 percent in the first half of 2023 on revenue of $7.1 billion and operating income of $10.9 million.