Advocate Aurora, which has dual headquarters in Milwaukee and Downers Grove, Ill., reported revenue of $3.3 billion in the quarter ending March 31. In the same period last year, the health system recorded revenue of $3.1 billion. Although patient service revenue for the first quarter of this year increased 4.2 percent to $2.7 billion, Advocate Aurora said revenue was “negatively impacted by the COVID-19 pandemic which led to cancellations and postponements of healthcare services.”
Advocate Aurora also saw expenses increase year over year. In particular, the system recorded about $3.2 billion in expenses, including $13.3 million in nonrecurring expenses related to the implementation of a new EHR and divestiture of an Illinois disposal group.
Advocate Aurora ended the first quarter with a $51 million operating income. In the same quarter last year, Advocate Aurora posted an $85.7 million operating loss.
After factoring in nonoperating items, including a $295.7 million investment gain, Advocate Aurora recorded a net income of $351.8 million. In the same quarter last year, Advocate Aurora posted a net loss of $1.3 billion, which it largely attributes to financial market volatility and an investment loss.
The health system didn’t recognize any federal aid in the three months ending March 31.
