The system reported revenue of $1.15 billion in the third quarter, an 18.2 percent increase from $972.18 million in the same period of 2015.
After accounting for expenses, Northwestern ended the quarter with operating income of $85.24 million. That’s an improvement from the $60.44 million in operating income the system reported in the third quarter of 2015.
The nonprofit system’s net surplus increased 173 percent year over year to $403.59 million after adding in its recent acquisitions and investments. Northwestern went on a deal-making spree in recent years, adding Dekalb, Ill.-based KishHealth in December, Wheaton, Ill.-based Marianjoy Rehabilitation Hospital in March and Winfield, Ill.-based Cadence Health in September 2014.
More articles on healthcare finance:
OIG: Houston Methodist Hospital received $1.27M in Medicare overpayments
Cerner adds new revenue cycle leadership: 5 questions with Cerner president, new SVP of RCM
How is Montana’s Medicaid expansion working so far?
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.
