Intermountain Health’s merger with SCL Health boosted the nonprofit health system’s financial performance by $4 billion last year, the company disclosed Tuesday.
Net income is projected to increase 6.5% to $2.63 billion in 2022 while revenue is expected to increase 29.6% to $13.94 billion.
Excluding merger-related incentives, Salt Lake City-based Intermountain Health reports net operating income of $121 million in 2022—a decline of 81.6% from 2021. This reflects a challenging economic environment characterized by rising costs for labor, supplies and other priorities. , Expenses rose 36.9% to $13.16 billion, including a 47.3% jump in employee compensation expense.
Intermountain Health, which operates 33 hospitals, nearly 400 clinics and a health insurance business covering nearly 1 million people, also posted investment losses of $1.57 billion last year.
SCL Health in Intermountain and Broomfield, Colorado finalized their merger last April. companies told the benefits Scaling digital services while not physically consolidating their operations.