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They made $4mm if you subtract the $256mm investment loss. They just have over a billion $$ invested. Title is very misleading.
Bingo. We don’t know their net operating margin (since “sales” aren’t reported here), but the nut of the story really is that a non-profit health network earned a small operating profit despite challenging conditions and massive investment losses.
Paper loss, not a real loss at this point.
Rules require valuation at current market for marketable investments…and everybody is down 20-25% this year. Since they’re cash equivalents, it is a real loss.
Let’s see, temporary labor costs surged by 174% resulted from increased use of temporary agency staffing for nursing positions due to the “shortage” of available nurses to fill open positions.” And this “shortage” was created how?!! Go…!!!!!
In economics we explain that there’s only a “shortage of supply” when the buyer isn’t paying enough for the product or service to balance supply and demand at a higher level.
Nursing wages have largely been stagnant for years…and hospitals wonder why they can’t find nurses.