Xpenses outpaced income in the first quarter of the year for St. Charles Health System, despite an increase in surgical procedures and robust returns on investments, according to the first quarter financial returns.The health system reported a $2.4 million operating income for the firs three months, ending March 31, compared to $15.2 million during the same period the year before.
After two years of declining revenues and increased costs, St. Charles Health System received a ratings increase from S&P Global Ratings, indicating a level of confidence.
A positive rating is important for the region’s largest employer, which operates four hospitals and several clinics around Central Oregon. It means the health system, which employs more than 4,500 people in the region, can tap into funds that could help it finance future growth.