Revenue increased 10.3% year over year to $9.56 billion while expenses grew by 11.1% to $9.22 billion, according to financial documents published Dec. 4. Salaries increased 12.4% to $4.04 billion and employee benefits rose 14.2% to $600.9 million.
After accounting for nonoperating items, such as investment returns, Northwestern reported a net income of $1.58 billion in FY 2024, up from $1.14 billion in FY 2023.
As of Aug. 31, long-term debt for the health system stood at $1.67 billion.
Northwestern is an 11-hospital system with more than 5,400 affiliated physicians. Its flagship facility, Northwestern Memorial Hospital, is among the largest in the country, with 894 beds.
