{"id":613598,"date":"2023-03-02T16:49:31","date_gmt":"2023-03-02T22:49:31","guid":{"rendered":"https:\/\/news.sellorbuyhomefast.com\/index.php\/2023\/03\/02\/adventhealth-lost-839m-in-2022-after-gains-in-2021\/"},"modified":"2023-03-02T16:49:31","modified_gmt":"2023-03-02T22:49:31","slug":"adventhealth-lost-839m-in-2022-after-gains-in-2021","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2023\/03\/02\/adventhealth-lost-839m-in-2022-after-gains-in-2021\/","title":{"rendered":"AdventHealth lost $839M in 2022 after gains in 2021"},"content":{"rendered":"
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A spike in operation expenses fueled by labor costs weighed down AdventHealth’s financial performance last year, the nonprofit health system reported Tuesday.<\/p>\n

AdventHealth suffered a $837.92 million net loss for 2022, compared with a $1.51 billion gain the prior year. Revenue rose 5.5% to $15.7 billion and investment losses reached $1.16 billion.<\/p>\n

Operating expenses rose 11% to $15.42 billion, including $1.1 billion in excess labor costs, the Altamonte Springs, Florida-based health system announced. Inflation, spending on purchased services and professional fees, and changes in asset values also contributed to rising expenses.<\/p>\n

AdventHealth, which operates more than 50 hospitals in nine states, has made significant changes to its business in recent years.<\/p>\n

In February, AdventHealth announced plans to phase out its Centura Health joint venture with Chicago-based CommonSpirit Health<\/a>. A month prior, it\u00a0signed an agreement to sell nine skilled nursing facilities in Florida, Kansas and Texas. In 2021, AdventHealth and St. Louis-based Ascension agreed to unwind their Amita Health joint venture<\/a>. At the beginning of this year, AdventHealth and University of Chicago Medicine launched a joint venture<\/a>.<\/p>\n

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\n Caroline Hudson<\/p>\n","protected":false},"excerpt":{"rendered":"

Skip to main content A spike in operation expenses fueled by labor costs weighed down AdventHealth’s financial performance last year, the nonprofit health system reported Tuesday. AdventHealth suffered a $837.92 million net loss for 2022, compared with a $1.51 billion gain the prior year. Revenue rose 5.5% to $15.7 billion and investment losses reached $1.16<\/p>\n","protected":false},"author":1,"featured_media":613599,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[58438,28111],"tags":[],"class_list":{"0":"post-613598","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-adventhealth","8":"category-gains"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/613598","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=613598"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/613598\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/613599"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=613598"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=613598"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=613598"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}