Kansas City, Mo.-based Saint Luke's Health has reported a much reduced operating income for the fiscal quarter ended March 31.
While the 10-hospital system reported operating income of $7.5 million in the same period in 2022, the figure was $615,000 for the 2023 results. Overall net income improved to $31.8 million compared with a loss of $12.3 million in the same period last year.
The news comes shortly after the announcement of a proposed merger between Saint Luke's Health and St. Louis-based BJC HealthCare. The two systems' CEOs described the plan as a "forward-looking transaction" in an interview with Becker's June 14.
Saint Luke's, which had 192 days of cash on hand as of March 31, continues to suffer from labor shortages, management said.
'We continue to further expand our recruitment footprint and strengthen our pipeline of all talent," according to the financial statement.
BJC HealthCare reported $59.5 million in operating income for the quarter ending March 31.