Winston Salem, N.C.-based Atrium Wake Forest Baptist reported an overall loss of approximately $223 million as declines in investment returns hit hard in 2022, per Becker’s.
Increased expenses resulted in an operating loss of approximately $24 million for the year ended Dec. 31, but it was a net loss of almost $200 million in investments that dragged down the overall figure. The overall loss in 2022 compared with a gain of $364.4 million in 2021.
The health system, part of Charlotte, N.C.-based Advocate Health, is anchored around the 885-bed Atrium Health Wake Forest Baptist Medical Center and also includes the Brenner Children’s Hospital, five community hospitals, and more than 300 primary and specialty care locations.
