Ascension posts $708M quarterly turnaround

Ascension reported Q2 FY24 net income of $359.5m, a $708m improvement from Q2 2022's $238.1m loss. The improved operational performance is due to strategies for volume growth, rates, pricing, and cost controls. Revenue rose by 9.4% to $7.7b and expenses by 2.5% to $7.6b in Q2. Salaries, wages, and benefits decreased by 2.1% due to outsourcing lab services and labor stabilization initiatives. Ascension also saw increased facility volume primarily due to inpatient admissions and surgery visits.

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