UMMS does more than break even as net gain rises to $161M

Baltimore-based the University of Maryland Medical System barely broke even in fiscal 2022, reporting an operating income of $175,000.

In fiscal 2023, ending June 30, the 12-hospital system said it had $17.8 million in operating income on the back of $5.1 billion in revenue.

Salaries, wages and benefits still were up on 2022 numbers, and overall expenses rose 3.2% to total just over $5 billion.

Net income for the year totaled $161.3 million compared with a net loss in 2022 of $82 million.

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