Northwell operating income jumps 68% to $197.7M

New Hyde Park, N.Y.-based Northwell Health reported an operating income of $197.7 million in 2023, a 68% improvement on the $117.6 million operating gain posted the previous year.

Operating revenue increased 8.4% year over year to $16.9 million while expenses grew by 7.9% to $16.7 billion, according to financial documents published April 29. 

After factoring in nonoperating items, such as investment returns, Northwell reported $1 billion in net income in 2023, up from a $727.6 million net loss in 2022. 

Northwell comprises 21 hospitals and plans to merge with Danbury, Conn.-based Nuvance Health to form a 28-hospital system with 14,500 providers and more than 1,000 care sites. Northwell CEO Michael Dowling is hopeful regulatory approval will be completed by the end of the year.

Copyright © 2024 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.


Featured Whitepapers

Featured Webinars