New York health system improves operating margin from -10.8% to -4.2%

Becker's Healthcare January 7, 2025
Alan Condon

Middletown, N.Y.-based Garnet Health reported a $25.6 million loss (-4.2% margin) for the nine months ending Sept. 30, compared to a $59.3 million loss (-10.8% margin) for the same period in 2023.

Revenue for the nine-month period increased 10.6% year over year to $604.6 million while expenses grew by 4% to $630.2 million, according to financial documents published Nov. 14.

Salaries and wages increased 5.2% year over year to $267.5 million and employee benefits rose 16.6% to $112.7 million. Supply costs increased 1.5% to $100.8 million.

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