Advocate Health posts $721M bottom line gain

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

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