Aurora, Colo.-based UCHealth, which said Nov. 2 it will close the acquisition of Pueblo, Colo.-based Parkview Health Dec. 1, has reported an operating income of $331.7 million for the fiscal year ended June 30.
It was the third straight year of positive operating income for the 12-hospital system and followed a similar figure of $323.8 million in 2022. Operating revenue for UCHealth totaled $6.9 billion in 2023 compared with $6.3 billion in 2022.
Expenses rose. Wages, contract labor and benefits totaled $3.1 billion, up 11.5% on the year. Contract labor was down 21.6%. Overall expenses rose 11.1% to total $6.6 billion.
UCHealth's net income was $839 million compared with an overall loss of $317.4 million in 2022. Days cash on hand were 325.1 as of June 30 with long-term debt of $1.4 billion .