In fiscal year 2019, ended Aug. 31, Lurie Children’s reported total operating revenue of $1.28 billion, up from $1.09 billion in fiscal year 2018.
Expenses at the children’s hospital network also increased, from $1.01 billion in fiscal year 2018 to $1.21 billion in fiscal year 2019.
The increase in expenses was attributed to growth in salary and benefits costs as well as supply expenses.
Overall, Lurie Children’s ended the year with a net income of $50.4 million, down from the $110 million earned in 2018.
During the period of growth and development Lurie Children’s, the hospital maintained its strong “AA-” and “AA” credit ratings from S&P Global Ratings and Fitch, respectively.
Access the financial documents here.
More articles on healthcare finance:
‘Venmo it to me’: The emerging generational payment gap
Another rural New York hospital to close campus, affecting 201 jobs
Allegheny Health Network more than triples net income
