Advocate Aurora's annual operating income down 56%

Advocate Aurora Health saw revenue increase and operating income decline year over year in 2020, according to financial documents released March 22. 

Advocate Aurora, which has dual headquarters in Downers Grove, Ill., and Milwaukee, reported revenue of $13.1 billion in 2020, up from $12.8 billion a year earlier. To help offset lost revenue and expenses tied to the COVID-19 pandemic, the health system received $786.7 million in grants in 2020 made available through the Coronavirus Aid, Relief and Economic Security Act. 

Advocate Aurora posted operating income of $212.97 million last year, down 56 percent from $481.1 million in 2019. 

After factoring in nonoperating items, the health system ended 2020 with net income of $558 million, down from $1.5 billion a year earlier. The decrease was primarily attributed to lower investment yields and additional operating expenses tied to the COVID-19 pandemic. 

More articles on healthcare finance:
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Billionaire unloads $42M of CHS shares

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