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The sprawling nonprofit system, which operates 136 hospitals and other care sites across 18 states and Washington, D.C., has decided to downsize in markets such as Michigan and Alabama. In July, Ascension announced plans to sell nine Illinois hospitals and other sites to for-profit Prime Healthcare.
Ascension reported a loss from recurring operations of $197 million for the three months ended September 30, 2024 as compared to a $1.4 billion recurring operating loss in the prior quarter, Q4 FY24, representing a $1.2 billion improvement in operating performance.
Although health facilities receive federal payments for services provided to individuals enrolled in federal programs, these payments are generally not intended to keep health facilities operational. The challenges that health facilities may face raise questions about potential sources of federal support.
After factoring in nonoperating items, such as investment returns, Ascension reported a $1.1 billion net loss in FY 2024, representing a $1.6 billion turnaround from the prior year. Ascensions long-term debt stands at $6.76 billion.
Ascension finished the fiscal year ended June 30 with a nearly $1.1 billion net loss. Now that immediate recovery efforts have ended, Ascension EVP and Chief Financial Officer Saurabh Tripathi said in a statement accompanying the earnings that the health system will turn its focus back to growing patient volumes.
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Please contact the Financial Assistance Center at (888) 233-7868, Monday through Friday, 6 a.m. to 6 p.m., for additional information.
Be honest and transparent: Explain your situation clearly and honestly. Share the reasons why you need financial help and how much you need. Be specific: Be clear about the amount you need and what you intend to use it for. Ask for help directly: Its important to be clear and direct about what you need.

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