The resulting 6.1 percent operating margin, while healthy, was down slightly from Advocate’s fiscal year 2012. That year, Advocate posted a 6.5 percent operating margin.
The health system’s overall profit in 2013 surpassed $765.3 million, which was a 14 percent increase from 2012. That total reflected $151.7 million in added assets due to Advocate’s acquisition of Sherman Hospital in Elgin, Ill.
About 30 percent of Advocate’s net patient service revenue came from BlueCross BlueShield of Illinois, while a quarter came from Medicare.
Advocate owns 11 acute-care hospitals and two children’s hospital campuses, and it recently signed a clinical affiliation with Silver Cross Hospital in New Lenox, Ill. A pioneer in evolving payment models, Advocate recently announced its accountable care organization with Blue Cross held down costs in 2012.
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