Albuquerque, N.M.-based Presbyterian Healthcare Services reported an overall loss of $370.7 million in 2022 as heavy investment declines dragged down performance. That figure compared with net income of $274 million in 2021.
The nine-hospital system, which has a licensed bed capacity of 1,017, reported an overall gain of $46 million for the most recent quarter ending Dec. 31 as an improved quarterly investment performance helped offset the net operating loss of $47.9 million.
But it was the $333.8 million loss on unrealized investments that pulled the system down over the year. The operating loss for the year ending Dec. 31, 2022, totaled $105.4 million compared with a $69 million gain in 2021.
Presbyterian also operates a health insurance division that saw a $388.9 million increase in net premiums during 2022.