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Member, Beacon International Group, Ltd.
Catholic health system Trinity Health said negative investment returns were the primary reason behind its net loss of $1.4 billion in the fiscal year ended June 30, compared to $3.9 billion in profit during the prior year, reports Healthcare Dive. A rise in contract labor costs to “unprecedented levels” and reduction in federal relief funding contributed to an operating loss of $206.3 million, compared to operating income of $657.6 million in the year prior, Trinity reported.