Dallas-based Baylor Scott & White saw operating profit tumble more than 13% in the six months to Dec. 31, largely due to increased spending, financial results show recently. published.
For the first half of fiscal 2022, Baylor Scott & White reported operating profit of $644 million, down from $742 million in the same period a year earlier. The operating margin for the healthcare system was 10.2% for the first half of fiscal 2022. During the same period of fiscal 2022, the operating margin was 12.8%.
For the six months ending Dec. 31, the 51-hospital system recorded revenue of $6.4 billion, including $5.2 billion in net patient care revenue. In the first half of fiscal 2021, the healthcare system recorded revenue of $5.8 billion, including $4.6 billion in net patient care revenue.
The healthcare system also saw spending rise in the first half of fiscal 2022 to $5.7 billion, up 12.6% from the same period of fiscal 2021. attributed the rise in spending to rising employee salary and supply costs.
After factoring in non-operating gains of $88 million, Baylor Scott & White reported net income of $721 million in the first six months of fiscal 2022. In the same period last year Last, the health system had a net income of $1.3 billion, including a non-operating profit gain of $535 million.
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