Corewell Health reports 1.4% operating margin as revenue tops $11B

Grand Rapids, Mich.-based Corewell Health reported revenue of $11.2 billion in the first nine months of 2023, an 11.6% increase on the previous year's period.

The 22-hospital system said operating income was $152.1 million as expenses jumped 11.1% on the year. That amounted to a 1.4% operating margin if federal and state funding is included.

Corewell Health acquired Corewell Health East effective Feb. 1, 2022, impacting some of the expenses and revenue data.

Days' cash on hand totaled 206.4 as of Sept. 30 with debt of approximately $2.3 billion.

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