How the 2 largest nonprofit health systems fared in Q2

The largest nonprofit health systems, Ascension and CommonSpirit Health, reported lower net income in the second quarter of fiscal year 2022 than in the same period a year earlier.  

Ascension, a 142-hospital system based in St. Louis, reported operating revenue of $7.26 billion in the second quarter of fiscal 2022, which ended Dec. 31, down from $7.32 billion in the same period a year earlier. Net patient service revenue increased 4.5 percent year over year, but other revenue, such as COVID-19 grant income, decreased in the second quarter of the most recent fiscal year. After factoring in nonoperating gains, the health system ended the second quarter of fiscal year 2022 with net income of $949.5 million, down from $2.6 billion a year earlier. 

CommonSpirit Health, a 140-hospital system based in Chicago, saw revenue rise 7.2 percent year over year to $8.9 billion in the second quarter of fiscal year 2022. The increase was attributed to rebounding patient volume. On a same-facility basis, adjusted admissions, outpatient visits and emergency department visits were up year over year. Revenue gains were offset by higher expenses, and the health system ended the second quarter of fiscal 2022 with an operating loss. After factoring in nonoperating income, the health system reported net income of $118 million, down from $1.9 billion in the same period a year earlier.