Charlotte, N.C.-based Advocate Health recorded an operating income of $329.1 million (3.6% operating margin) in the first quarter of 2025, up from $103.7 million (1.3% margin) during the same period last year, according to its May 30 financial report.
The system reported total operating revenue of $9.2 billion for the three months ended March 31, up from $8.1 billion during the same period last year. Patient service revenue totaled $7.8 billion, up from $6.8 billion.
Total operating expenses were $8.8 billion in the quarter, up from $8 billion during the same period in 2024. Salaries, wages and benefit expenses totaled $5.1 billion, up from $4.7 billion. Supply and drug costs totaled $2 billion, up from $1.7 billion.
As of March 31, Advocate Health had 260 days cash on hand, down from 276 on Dec. 31.
The system reported a net income of $499.5 million in the quarter, down from $686.6 million during the same period last year.
Here is a breakdown of the health system’s first-quarter results by division:
Advocate Aurora Health
Revenue: $4.4 billion (+6.9% YOY)
Expenses: $4.2 billion (+7.3% YOY)
Operating income: $130 million (-2.5% YPY)
Net income: $233.7 million (-35% YOY)
Atrium Health Wake Forest Baptist
Revenue: $1.5 billion (+19.1% YOY)
Expenses: $1.5 billion (+15% YOY)
Operating income: $29.2 million (+260.4% YOY)
Net income: $53.5 million (1.7% YOY)
The Charlotte-Mecklenburg Hospital Authority Combined Group
Revenue: $2.7 billion (+16% YOY)
Expenses: $2.5 billion (+9.1% YOY)
Operating income: $166.3 million (+3109.1% YOY)
Net income: $159.9 million (-4.1% YOY)
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