Issue link: https://beckershealthcare.uberflip.com/i/1535972
14 CFO / FINANCE to $16.1 billion. e 33-hospital system reported a net income of $1.8 billion in 2024, up from $1.6 billion in 2023. 9. Phoenix-based Banner Health reported an operating income of $362.5 million (2.3% margin) in 2024, up from $282.8 million (2% margin) in 2023. Banner reported $15.6 billion in revenue, up from $14.1 billion in 2023. Expenses were $15.2 billion, up from $13.8 billion. Net income was $1.1 billion in 2024, up from $895 million a year prior. 10. St. Louis-based BJC HealthCare reported an operating income of $325.6 million (3% margin) on revenues of $10.7 billion in 2024, compared to $141.6 million (2% margin) on $7 billion in revenue in 2023. e financial results show the first full year of operations since BJC merged with Kansas City, Mo.-based Saint Luke's Health System. BJC reported a net income of $2.6 billion in 2024, compared to $736.5 million in 2023. 11. Cleveland Clinic reported an operating income of $276 million (1.7% margin) in 2024, up from $64 million (0.4% margin) in 2023. In 2024, revenue increased $1.5 billion (10%) while expenses increased $1.2 billion (8.6%) year over year. Cleveland Clinic reported a net income of $980 million in 2024 compared to $911 million in 2023. 12. Indianapolis-based Indiana University Health posted $257 million in operating income (2.8% margin) in 2024, down from $343 million (4% margin) in 2023. IU Health's operating revenue increased 6.7% year over year to $9.22 billion while expenses increased 8% to $8.97 billion. e system saw $966 million in net income for 2024, down 17% from $1.1 billion in 2023. 13. Cincinnati-based Bon Secours Mercy Health reported an operating income of $133 million (1% margin) in 2024, a turnaround from the $172 million operating loss (-1.4% margin) recorded in 2023. Revenue rose 8.9% year over year to $13.3 billion and expenses increased 5.6% year over year to $13 billion in 2024. Bon Secours Mercy Health reported a net income of $572 million for 2024, up from $222 million in 2023. n Aspirion appoints CFO following recent CEO change By Alan Condon Healthcare revenue cycle management company Aspirion appointed Scott Doolittle CFO, effective April 1. Mr. Doolittle previously served as CFO of Quantum Health, where he led significant financial growth through a combination of strategic mergers and acquisitions and organic growth initiatives. The appointment comes less than five months after Nick Giannasi took over as Aspirion CEO. Mr. Giannasi succeeded Amy Amick, who moved to the Aspirion's board in November. She had served as CEO since April 2023. "In Scott, we've found a financial strategist who understands the economic realities facing hospital CFOs and revenue cycle leaders today," Mr. Giannasi said in an April 1 news release. "His experience scaling healthcare technology companies through private equity partnerships directly mirrors Aspirion's trajectory." n 25 health systems ranked by long-term debt By Madeline Ashley D espite many U.S. health systems seeing improved margins, some continue to be weighed down by long-term debt from investments in technology, large expansions, and asset transactions. Here are 25 health systems ranked by their long-term debt in fiscal year 2024: Note: is is not an exhaustive list. e following long-term debt figures are taken from each health system's most recent financial report. 1. HCA Healthcare (Nashville, Tenn.): $38.3 billion 2. CommonSpirit Health (Chicago): $17 billion 3. Tenet Healthcare (Dallas): $13.1 billion 4. Kaiser Permanente (Okland, Calif.): $12.7 billion 5. Community Health Systems (Franklin, Tenn.): $11.4 billion 6. Providence (Renton, Wash.): $7.5 billion 7. Ascension (St. Louis): $7.1 billion 8. Trinity Health (Livonia, Mich.): $6.4 billion 9. UPMC (Pittsburgh): $6.1 billion 10. Mass General Brigham (Somerville, Mass.): $5.8 billion 11. Cleveland Clinic: $4.6 billion 12. Universal Health Services (King of Prussia, Pa.): $4.5 billion 13. Banner Health (Phoenix): $4.2 billion 14. Baylor Scott & White (Dallas): $4 billion 15. Mayo Clinic (Rochester, Minn.): $4 billion 16. Bon Secours Mercy Health (Cincinnati): $3.9 billion 17. BayCare Healthcare (Clearwater, Fla.): $2.6 billion 18. Mercy (Chesterfield, Mo.): $2.6 billion 19. BJC HealthCare (St. Louis): $2.3 billion 20. Allina Health (Minneapolis): $1.7 billion 21. SSM Health (St. Louis): $1.6 billion 22. Palomar Health (Escondido, Calif.): $1.4 billion *Year ended June 30, 2024 23. Sanford Health (Sioux Falls, S.D.): $1.3 billion 24. Allegheny Health Network (Pittsburgh): $910.5 million 25. Indiana University Health (Indianapolis): $131.3 million n