The Jefferson Health not-for-profit system listed a $231 million operating loss for the fiscal year ending on June 30, according to The Philadelphia Inquirer.

The article notes that the 18-hospital system was the first of Philly hospitals and health systems to report their financial results for the year, and that the loss excludes gains of $153 million from sales of businesses. With those sales, their overall loss is $79 million—an actual improvement over 2022 FY’s loss of $126 million.

Cited reasons for the loss are that hospital systems are “under pressure from higher costs [for labor, drugs, and other supplies] and a shift away from inpatient care” along with fewer COVID-19 subsidies. Jefferson’s loss for fiscal 2022 without sales was $158 million, and its revenue totaled $9.7 billion for fiscal 2023.

In late July, Jefferson announced that it was laying off about 400 positions, which included an uncertain number of jobs in its Elkins Park, Willow Grove and Abington branches.

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