Keckley Report November 21, 2022
Paul Keckley

The financial reports and deals announced last week (below) illustrate the prevalence of mixed messaging about hospitals in the market:

Financial results:

·       Mayo announced $157M Q3 2022 income on $4.12 billion revenue. Its operative expenses increased 7.1% (9.5% YTD) and contract expenses increased 47%.

·       Providence recorded a cumulative $1.1 billion operating loss during the first three quarters of this year as staffing shortages and weak market conditions. Providence reported a net operating loss of $164 million for the third quarter, compared with $424 million in the second quarter.

·       Common Spirit on Tuesday reported a $397 million net loss in the first quarter of its fiscal year 2023, compared with a $269 million gain a year ago.

Mergers,...

Today's Sponsors

LEK
Teladoc Health
Amwell

Today's Sponsors

LEK
Teladoc Health

Today's Sponsor

Oliver Wyman

 
Topics: Health System / Hospital, Provider
How hospitals can financially measure the risk of cybersecurity attacks
Hospital, health system rebrands of 2022
4 hospitals, health systems partnering with Amazon in 2022
3 major health systems post billion-dollar losses: What ASC leaders should know
Limits of ‘Fauci effect’: infectious disease applicants plummet, and hospitals are scrambling