Becker's Healthcare September 29, 2022
Two of the largest nonprofit health systems, Ascension and CommonSpirit Health, ended fiscal year 2022 with losses.
Ascension, a 144-hospital system based in St. Louis, reported operating revenue of $27.98 billion in the year ended June 30, up from $27.24 billion a year earlier. The health system saw expenses climb to $28.77 billion in the most recent fiscal year and ended the period with an operating loss of $879.2 million.
Higher salaries, wages and benefits due to staffing challenges and increased use of contract and premium labor pushed Ascension’s expenses higher in fiscal year 2022.
After factoring in nonoperating items, Ascension reported a net loss of $1.84 billion for the 12...