Although total operating revenue climbed a record 12 percent in fiscal year 2019, Chicago-based Anne and Robert H. Lurie Children's Hospital saw its net income drop year over year, according to recently published financial documents.
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.
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