Charlotte, N.C.-based Advocate Health posted operating income of $79.4 million in the first nine months of 2023, according to its Nov. 20 financial report.
The 67-hospital system, formed after Charlotte-based Atrium Health merged with Advocate Aurora Health, posted $721.2 million of excess revenue over expenses in the three quarters ended Sept. 30, according to the report.
The system posted $22.83 billion in revenue, with expenses hitting $22.75 billion over the nine-month period. It has seen a $625.7 million return on investment in the first nine months of the year.
Here is a breakdown of the nine-month results by division:
Advocate Aurora Health
Revenue: $11.66 billion
Expenses: $11.51 billion
Operating income: $150.7 million
Atrium Health Wake Forest Baptist
Revenue: $3.51 billion
Expenses: $3.57 billion
Operating income: -$57.4 million
The Charlotte-Mecklenburg Hospital Authority Combined Group
Revenue: $6.34 billion
Expenses: $6.25 billion
Operating income: $93.65 million