Becker's Healthcare May 26, 2023
Livonia, Mich.-based Trinity Health, one of the largest nonprofit health systems in the country, reported an operating loss of $283.5 million for the first nine months of its fiscal year up to March 31.
The loss, which included a reduction of $137.2 million from pandemic-related provider relief funds compared with the same period in 2022, also compared with an operating gain of $139.7 million in 2022.
Operating revenues and expenses increased year over year with acquisitions during the period accounting for much of that, Trinity Health said. Operating revenue totaled $15.9 billion for the nine months while expenses totaled $16.2 billion.
The 88-acute-care-hospital system continues to face challenges related to staffing and supply costs.
“Downward pressure on fiscal year 2023...