Dayton, Ohio-based Premier Health saw an operating loss of $13.5 million (-2.2% margin) in the three months ended June 30, 2024, a 45% improvement from a $24.6 million operating loss (-4.3% margin) during the same time period in 2023, according to its Aug. 28 financial report.
Here are five findings from the report:
1. Premier Health saw a net loss of $1.4 million for the three months ended June 30, 2024, a 58% improvement from a $3.4 million net loss during the same period last year.
2. Total expenses for Premier Health were $622.2 million for the three months ended June 30, 2024, a 4.9% increase from $593.2 million over the same period in 2023.
3. The health system's total revenue was $608.6 million in the second quarter of 2024, a 6.6% increase from $571 million during the same period in 2023.
4. Premier Health's total debt was $965.9 million. The health system had 143 days of cash on hand on June 30, 2024, a decrease from 141 days of cash on hand on June 30, 2023 and 167 on Dec. 31, 2022.
5. Salaries and wages for the health system for the three months ended June 30, 2024 were $297.6 million, a 3% increase from $290 million over the same period in 2023.