Sioux Falls, S.D.-based Sanford Health reported an operating income of $402.2 million in 2023, more than double the $192.3 million it posted in 2022, according to its financial report released Feb. 14.
Five things to know:
1. Total operating revenues were $7.2 billion for the 12 months ended Dec. 31, up from $6.7 billion over the same period in 2022.
2. Patient revenues were $4.5 billion in 2023, up from $4.2 billion in 2022.
3. Total operating expenses were $6.8 billion in 2023, up from $6.5 billion in 2022.
4. Salaries and benefit expenses were $3.5 billion for 2023, up from $3.4 billion in 2022. Supply expenses were $1.4 billion for 2023, up from $1.2 the previous year.
5. Sanford saw investment returns of $146.5 million after seeing a $296.1 million loss in 2022. Net non-operating revenue was $103.2 million in 2023 after seeing a $339.5 million loss last year.