St. Louis-based SSM Health saw an operating loss of $21.8 million (-0.8% margin) in the third quarter of 2024, ended Sept. 30, up from a $35.1 million operating loss (-1.4% margin) during the same time period in 2023, according to its most recent financial report.
Here are four things to know:
1. SSM Health's net income was $55.4 million in the third quarter of 2023, a drastic increase from $15.5 million over the same period in 2023.
2. Total revenue for the health system was $2.9 billion for the three months ended Sept. 30, a 12% increase from $2.6 billion during the same period in 2023. Total expenses for the health system were $2.9 billion in the same quarter, up 12% from $2.6 billion during the third quarter of 2023.
3. SSM Health's days of cash on hand was 133.4 on Sept. 30, down from 139.2 days of cash on hand Dec. 31, 2023.
4. Long-term debt for the health system was $1.57 billion in the third quarter of 2024, a decrease from $1.6 billion over the same time period in 2023.