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STL health system cites virus in reporting $1B loss

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St. Louis-based health system Ascension cited the coronavirus pandemic in reported a more than $1 billion net loss in its fiscal year.

The system of 150 hospitals reported flat revenue of roughly $25 billion in fiscal 2020. In fiscal 2019, the company had $1.2 billion in profits.

"COVID-19 has been encountered across all Ascension markets, to varying degrees, and has had a negative impact on the system's revenues and operating margin," Ascension officials said, pointing to a drop in elective procedures.

Read more from the St. Louis Business Journal.

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