Chicago-based Rush University System for Health recorded operating income of $56.6 million (1.3% margin) for fiscal year 2026, compared with operating income of $32.5 million (0.8% margin) in fiscal 2025, according to its audited financial statements for the 12 months ended June 30.
Five things to know:
1. Rush reported total revenue of $4.4 billion in fiscal 2026, a 13.9% increase year over year. Patient service revenue rose 13.8% to $3.8 billion. Grant revenue and net assets released for operations increased 7.6% to $243.1 million, and other revenue climbed 25% to $194.1 million.
2. Total expenses were $4.3 billion for fiscal 2026, a 13.4% increase year over year. Salaries, wages and benefits totaled $2.1 billion, a 10.7% increase. Supplies, utilities and other expenses rose 20.7% to $1.5 billion. Purchased services increased 6% to $436.5 million.
3. The Illinois Hospital Assessment Program provided Rush a net benefit of $219.7 million in fiscal 2026, up from $117.1 million the prior year. Rush recorded $386 million in Medicaid payments under the program, up from $205.6 million, and $166.3 million in state assessment taxes, up from $88.5 million.
4. Rush and Evanston, Ill.-based Endeavor Health announced plans Oct. 14 to merge. The deal is expected to close in early 2027, and Endeavor plans to fund a $1 billion investment as part of it. The combined system will operate under the Rush brand and include 12 hospitals, more than 400 care sites and 46,000 employees and clinicians, with Endeavor CEO Gerald “J.P.” Gallagher leading the combined organization.
5. Rush posted net income of $293.9 million in fiscal 2026, up from $187 million in fiscal 2025. Nonoperating income totaled $237.3 million, including $225.6 million in investment income and a $22.6 million gain from refinancing.
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