Health system finances on the upswing: 5 things to know

Many health systems were off to a rough financial start at the beginning of 2023, but for some, things are beginning to look up.

Five things to know:

1. Oakland, Calif.-based Kaiser Permanente reported $233 million in operating income for the first quarter of 2023, up from a $72 million operating loss in the same period in 2022.

2. Cleveland Clinic reported $335.5 million net income for the first quarter of 2023, compared with a $282.5 million loss over the same period in 2022.

3. Phoenix-based Banner Health transformed a $46 million operating loss in the first quarter of 2022 into a $128 million gain in the first quarter of 2023.

4. Boston-based Mass General Brigham reported a $361 million gain for the second quarter ending March 31, which is up from a $867 million loss in the same period last year.

5. Indianapolis-based IU Health reported operating income of $45.1 million for the first quarter compared to a loss of $29.8 million for the same period in 2022.

Read more about how hospitals are making a financial comeback here

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