Charlotte, N.C.-based Advocate Health recorded an operating income of $1.3 billion (4.5% operating margin) through the first three quarters of 2025, up from an operating income of $964.2 million (3.7% margin) during the same period last year, according to its Nov. 25 financial report.
The health system reported total operating revenue of $28.8 billion during the nine months ended Sept. 30, up from $25.8 billion during the same period last year. Patient service revenue was $24.1 billion, up from $21.6 billion.
Total operating expenses were $27.5 billion through the third quarter, up from $24.8 billion during the same period in 2024. Salaries, wages and benefits totaled $15.6 billion, up from $14.2 billion. Supply and drug expenses were $6.3 billion, up from $5.5 billion.
Advocate Health reported a net income of $3.6 billion through the third quarter, up from $2.7 billion during the same period last year.
Here is a breakdown of the health system’s results by division through the third quarter:
Advocate Aurora Health
Revenue: $13.5 billion (+7.8% YOY)
Expenses: $13 billion (+7.1% YOY)
Operating income: $431.3 million (+33.1% YOY)
Net income: $1.7 billion (+39.8% YOY)
Atrium Health Wake Forest Baptist
Revenue: $4.8 billion (+20.4% YOY)
Expenses: $4.6 billion (+17.2% YOY)
Operating income: $255.8 million (+137.8% YOY)
Net income: $550.9 million (+109.3% YOY)
The Charlotte-Mecklenburg Hospital Authority Combined Group
Revenue: $8.6 billion (+14.7% YOY)
Expenses: $8 billion (+12.4% YOY)
Operating income: $616.4 million (+55.6% YOY)
Net income: $1.3 billion (+15.5% YOY)
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