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Tag: BHSH System

State, federal relief boost Corewell Health’s bottom line as ‘unfavorable’ conditions persist
Health

State, federal relief boost Corewell Health’s bottom line as ‘unfavorable’ conditions persist

More than $100 million in state and federal assistance accounted for much of Corewell Health’s operating margin during the first nine months of 2022, as results narrowed amid higher labor costs. The health system — recently renamed after going by BHSH System following the Feb. 1 merger between Spectrum Health and Southfield-based Beaumont Health — recorded $159.4 million in net operating income through the third quarter, according to a quarterly financial statement posted online Monday. The operating results included $100.3 million in state and federal funding that Corewell Health received this year. Minus the pandemic-relief funding, Corewell Health recorded just $59.1 million in operating income on $10 billion in operating revenue, for a 0.6-percent margin. In the same...