Northwestern Memorial HealthCare’s revenue increased 10.8 percent in the year ended Aug. 31, 2017, to $4.8 billion, according to recently released financial documents. This is compared to $4.4 billion in fiscal year 2016. The incline was largely attributable to patient revenue growth of 12.1 percent year over year to $4.7 billion in 2017.
The health system did post growing expenses, although they did not outpace revenue. Northwestern Memorial HealthCare reported expenses of $4.5 billion in fiscal year 2017, up 9.9 percent from $4.1 billion reported in fiscal year 2016. The system saw supplies costs rise 15.4 percent year over year and employee benefits increase less than 1 percent.
The system achieved an operating income of $301.2 million in fiscal year 2017, up 25.8 percent from fiscal year 2016.
After factoring in a boost in nonoperating income, Northwestern Memorial HealthCare’s net income grew 37 percent to $983.6 million in fiscal year 2017, up from $718.2 million in the year prior.
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