New Hyde Park, N.Y.-based Northwell Health recorded $31 million in operating income (0.6% operating margin) during the first quarter of 2025, down from $72.9 million (1.6% margin) during the same period last year, according to its May 30 financial report.
Six things to know:
1. Northwell Health’s total operating revenue increased 6.6% year over year to $4.8 billion for the three months ended March 31. Total patient revenue increased 7.3% year over year to $4.2 billion.
2. Total operating expenses increased 7.7% year over year to $4.8 billion. Salaries and employee benefit costs increased 8.2% year over year to $3.1 billion. Supplies and expenses 6.7% year over year to $1.5 billion
3. As of March 31, Northwell had 94 days cash on hand, down from 95 on Dec. 31.
4. Northwell posted a net income of $32.3 million in the first quarter of 2025, down from $359.4 million during the same quarter last year.
5. Northwell completed its merger with Danbury, Conn.-based Nuvance Health on May 7, creating an integrated system with 28 hospitals, more than 104,000 employees — including 22,000 nurses and 13,500 providers — as well as over 1,050 ambulatory care sites and 73 urgent care centers.
6. Longtime President and CEO Michael Dowling plans to step down in October after more than 23 years. He will transition to the role of CEO emeritus. John D’Angelo, MD, currently executive vice president of Northwell’s central region and a 25-year veteran of the organization, will assume the role of president and CEO.
