November 28, 2022 – Intermountain Healthcare (Salt Lake City, UT) recorded $2.16 billion in net income for the first nine months of the year, according an unaudited financial report from the health system. The results were buoyed by the merger in April between Intermountain Healthcare and SCL Health (Broomfield, CO).
Here are some of the highlights from the report:
- Revenue reached $10.2 billion, up 28% from the same period last year
- Expenses rose 35% to $9.46 billion
- Supply costs increased by 30%
- Net operating income dropped 55% to $285 million
- Intermountain reported $2.21 billion in investment losses during the 9-month period
Additionally, last week, Intermountain announced it would promote Chief Operating Officer Robert Allen to president and CEO effective Dec. 1. Allen will replace interim CEO Lydia Jumonville, who has led the system during the several months since Dr. Marc Harrison stepped down to join a venture capital firm.