Vail (Colo.) Health is looking to return to normalcy and focus on its expansion projects in 2023 after 2022, in which the system saw a 49 percent drop in operating margin, SummitDaily reported Feb. 10.
Despite the financial headwinds, the health system opened two new facilities in 2022 and broke ground on an inpatient clinic expected to open in 2025. Last year, the health system saw a 21 percent increase in expenses, largely related to rising labor costs.
In 2023, Vail is projecting that it will spend $194 million on compensation and benefits, a year-over-year increase of $7.8 million.
“After three years of a pandemic, it’s time to emerge and try to get back to some sense of normalcy,” Vail Health President and CEO Will Cook said in his annual “State of Vail Health” on Feb. 7.