Charlotte, N.C.-based Novant Health recorded an operating income of $356.2 million (4.1% operating margin) through the first three quarters of 2025, down from an operating income of $471.1 million (6.3% margin) through the same period last year, according to its most recent financial report.
Total operating revenue for the nine months ended Sept. 30 was $8.7 billion, a 15.7% increase year over year. Net patient service revenue was $7.3 billion, an 8.8% increase. Novant said the increase was primarily attributable to increases in revenue secured through North Carolina’s Healthcare Access and Stabilization Program and an increase in patient volumes and pharmacy revenue.
Total operating expenses through Q3 were $8.4 billion, an 18.4% increase year over year. Salaries and benefits increased 15.5%, primarily due to merit and market-based pay adjustments and acquisitions. Other expenses increased 20.3%, primarily due to increases in expenses accrued for HASP assessments, inflation, higher medical supplies expense and other costs associated with increases in patient volumes.
Novant reported a net income of $831.6 million through the end of the third quarter, down from $842.9 million during the same period last year.
