Charlotte, N.C.-based Advocate Health recorded an operating income of $775.3 million (3.8% operating margin) during the first six months of 2026, down from $824.4 million (4.4% margin) during the same period last year, according to its Aug. 27 financial report.
Five things to know:
1. Total revenue rose 8.6% to $20.5 billion for the six months ended June 30, up from $18.8 billion. Patient service revenue increased 10.2% to $17.4 billion, from $15.8 billion.
2. Total expenses increased 9.3% to $19.7 billion, from $18 billion. Salaries, wages and benefits rose 7.7% to $11.1 billion. Supplies and drugs increased 11.8% to $4.6 billion. Purchased services and other expenses increased 12.4% to $3.2 billion.
3. Advocate Health’s commercial payer mix decreased to 45% through the first half of 2026, down from 50% during the same period last year. The system’s Medicaid payer mix was 20%, up from 18%. Medicare payer mix held steady at 31%, while self-pay and other increased to 4% from 1%.
4. The system had 288 days cash on hand as of June 30, up from 283 on Dec. 31.
5. Advocate Health posted a net income of $2.7 billion in the first half of 2026, up from $2 billion during the same period in 2025. The gain was driven largely by investment income, which climbed 50.9% to $1.9 billion.
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