Expenses rose and investment income fell, but Klamath Falls, Ore.-based Sky Lakes Medical Center was still able to post net income of $7.3 million in fiscal 2022. That figure compared with net income of $9.6 million in 2021.
Expenses for the year ended Sept. 30 totaled $304.95 million, up more than 12 percent from the previous year. Higher operating revenues helped offset such increases. Investment income totaled $3.9 million in 2022 compared with $5.6 million in 2021.
Sky Lakes Medical Center is a nonprofit hospital in South Central Oregon providing inpatient, outpatient and emergency care services to residents in Southern Oregon and Northern California.
David Cauble assumed the CEO role at Sky Lakes in March 2022.