Main Line Health reported an $11.7 million loss in last three months of 2023, far less than in 2022

Main Line Health cut its operating loss in the three months ended Dec. 31 to $11.7 million, compared to a $40.5 million loss the year before, according to financial documents released Thursday.

The nonprofit health system’s revenue in the quarter jumped 10.7%, to $601.8 million from $543.5 million in 2023. That percentage increase was more than twice the rate of operating expenses.

Main Line’s results show that many health systems are gradually climbing out of the financial hole created by the pandemic, as patients postponed many elective surgeries, and staffing and other expenses increased faster than revenue.

Main Line — owner of Bryn Mawr Hospital, Lankenau Medical Center, Paoli Hospital, and Riddle Hospital — reported a $39.5 million operating loss in the first half of fiscal 2024, which ends on June 30, compared to a loss of $81.3 million in the same period of fiscal 2023.

Grand View Health in Bucks County reported a 20% increase in revenue for the six months ended Dec. 31, to $138.1 million from $114.6 million, thanks in part to an increase in the number of inpatient beds from the opening of a new patient pavilion in June.

Grand View’s six-month operating loss fell to $22.2 million from $28.2 million.

Standard & Poor’s downgraded Grand View’s credit rating to “BB-” in November, citing bigger-than-expected losses.