The St. Louis-based health system ended Q1 2019 with nearly $2 billion in total operating revenues.
SSM Health reported total operating revenues of $1.9 billion after the first quarter of 2019, though total operating expenses weren't too far behind at $1.8 billion, according the system's earnings report released Monday.
The St. Louis-based health system ended Q1 with nearly $42 million in net cash provided by operating activities, though it posted losses in both net cash used in investing activities, $57.5 million, and net cash used in financing activities, $1.8 million.
This resulted in a $17.5 million drop of cash and cash equivalents compared to the start of the year, totalling $99.5 million by the end of March 31.
The start to 2019 marked another growth period for SSM, following an end to 2018 where revenues and net income bounced.
SSM Health's talks with MU Health Care are still ongoing as of this spring, with MU officials telling KMIZ that the negotiations are taking 'longer than expected.'
ADDITIONAL HIGHLIGHTS FROM SSM HEALTH'S Q1 Earnings report:
- Total nonoperating gains for SSM in Q1 were $21.5 million.
- SSM Health's income tax expense was $186,000.
- Pension liability reached $707.8 million, while operating lease obligations totalled $215.5 million.
Jack O'Brien is the finance editor at HealthLeaders, a Simplify Compliance brand.