With a second surge underway, Mass General Brigham closed the 12-month period that ended in September with a $351 million operating loss — one of the worst in its 26-year history.
Fiscal 2020’s losses work out to a negative 2.5% operating margin. The decrease is the largest in the hospital's 26-year history, and nearly erases the gains the health system made in the previous fiscal year, when it reported a 2.7% operating margin. Overall, MGB took in $14.01 billion in revenue in fiscal 2020.
In fiscal 2019, the nonprofit reported a $382 million operating gain on $13.95 billion in revenue.
“This past year has been like no other that we have seen in health care,” said Anne Klibanski, president and CEO of Mass General Brigham, in a statement.