Fierce Healthcare November 23, 2021
Ascension squeaked into the green during a volatile quarter in which COVID-19 surges fueled choppy volumes, deferred electives and greater operational costs.
For the three months ended Sept. 30 (the first quarter of Ascension’s fiscal year 2022), the faith-based nonprofit reported $6.9 billion in total operating revenue, $6.4 billion of which was net patient service revenue. This was up from the $6.6 billion and $6 billion it logged during the same quarter last year.
However, Ascension only saw $25 million in operating income for the most recent quarter, well below the $143 million it brought in during the year prior. These represented an operating margin of 0.4% and 2.2% for the first fiscal quarters of 2022 and 2021, respectively.
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