Becker's Healthcare December 17, 2024
Burlington, Mass.-based Tufts Medicine reported an operating loss of $68.2 million (-10.2% margin) in the fourth quarter of the fiscal year ending Sept. 30, compared to a $61 million loss (-9.6% margin) recorded in the same period in 2023.
Six things to know:
1. The $68.2 million loss in the fourth quarter includes recognition of federal and state grant revenue totaling $13 million and $28 million in one-time restructuring and other charges. Excluding this item would result in a $53 million operating loss for the three-month period.
2. Comparing this to Q4 of FY 2023, Tufts Medicine reported a $6 million operating loss. However, the system recognized $87 million in one-time grants from the state and federal...
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