Sioux Falls, S.D.-based Sanford Health saw an operating income of $195 million (3.5% margin) in the nine months ended Sept. 30, 2024, a 56% increase from $124.5 million (2.4% margin) during the same time period in 2023, according to its most recent financial report.
Here are five things to know:
1. Sanford Health reported a net income of $281.3 million for the nine months ended Sept. 30, 2024, a 141% increase from $116.7 million from the same period last year.
2. Total revenue for the system was $5.6 billion in the nine months ended Sept. 30, 2024, an 8% increase from $5.2 billion from the same period in 2023.
3. The system's total expenses were $5.4 billion for the nine months ended Sept. 30, 2024, up 6% from $5.1 billion over the same time period in 2023.
4. Sanford had 158.5 days of cash on hand on Sept. 30, up from 146.3 days on Dec. 31, 2023.
5. Long-term debt for the health system was $1.38 billion for the nine months ended Sept. 30, 2024, down 1.4% from the previous period in 2023.