Advocate Health posts $2.2B net income in 2023

Charlotte, N.C.-based Advocate Health posted an operating income of $606.6 million in 2023, according to its April 23 financial report. 

The 67-hospital system — which formed after Charlotte-based Atrium Health merged with Milwaukee and Downers Grove, Ill.-based Advocate Aurora Health in December 2022 — posted a net income of $2.2 billion for the year ended Dec. 31. 

The system posted $31.7 billion in total revenue and $31.1 billion in total expenses, according to the report. It posted a total nonoperating income of $1.6 billion.

Here is a breakdown of the nine-month results by division: 

Advocate Aurora Health

Revenue: $15.8 billion

Expenses: $15.7 billion

Operating income: $71.6 million

Atrium Health Wake Forest Baptist

Revenue: $4.7 billion

Expenses: $4.5 billion

Operating income: $171.3 million

The Charlotte-Mecklenburg Hospital Authority Combined Group

Revenue: $9.2 billion

Expenses: $8.6 billion

Operating income: $534 million

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