Intermountain reports reduced operating income of $121M

Intermountain reports reduced operating income of $121M unknown

Salt Lake City-based Intermountain Health has reported net operating income of $121 million on revenue of almost $14 billion in 2022.

Those figures compare with operating income of $658 million on $10.8 billion in revenue in 2021. Expenses in 2022 were up 36.9 percent from the previous year, with staffing costs and benefits up 47.3 percent.

Overall income for the 33-hospital system in 2022 totaled $2.6 billion, boosted by the affiliation effective April 1 of SCL Health, which contributed $4 billion.

Intermountain Health had long-term debt of $3.6 billion as of Dec. 31.

Intermountain President and CEO Rob Allen told Beckers on Feb. 16 that sustaining healthcare for local communities is the largest challenge facing the industry.

"I think we're at a point in time where there are more pressures on sustainability than I've ever seen in my several decades of leadership in healthcare," he said.

The full interview can be found here.