Chicago-based CommonSpirit Health recorded a $225 million operating loss (-0.6% operating margin) in fiscal 2025, an improvement from an $875 million loss (-2.4% margin) posted last year, according to the system’s Sept. 25 financial report.  Note: Figures are adjusted to normalize the California Provider Fee Program net income. 

Five things to know:  1. CommonSpirit recorded total operating revenue of $40.1 billion for the year ended June 30, up from $37 billion in 2024. Net patient and premium revenue totaled $37.1 billion, up from $34.9 billion. In 2025, the system received $645 million in COVID-19-related reimbursements from the Federal Emergency Management Agency, compared with $41 million in 2024. It also received $240 million in employee retention credits from the Internal Revenue S

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