Dallas-based Tenet Healthcare saw its net income rise from $38 million in the same period in 2022 to $123 million in the second quarter of 2023.
While revenues rose almost 10 percent to total $5.1 billion in the period, overall expenses also rose, resulting in the same operating margin of 11.9 percent for both the second quarters of 2023 and 2022. Salaries, wages and benefit expenses rose 7.5 percent to total almost $2.3 billion in the second quarter of 2023.
In the six months ending June 30, revenue rose to $10.1 billion with an operating margin of 11.9 percent compared with $9.3 billion and a margin of 12.8 percent the previous year.
The health system's ambulatory business, United Surgical Partners International, saw revenue of $942 million in the second quarter compared with $771 million in the same period in 2022. Revenue cycle management group Conifer recorded net revenue of $323 million for the second quarter.
Tenet Health raised its full-year outlook to revenues of up to $20.5 billion.