Becker's Healthcare November 14, 2024
Charlotte, N.C.-based Advocate Health reported an operating income of $964.2 million (3.7% operating margin) through the first three quarters of 2024, up from $79.4 million (0.3% margin) reported over the same period last year.
Advocate Health reported revenues of $25.8 billion for the nine months ended Sept. 30, up 12.9% over the same period last year. Patient service revenues were up 12.2% to $21.6 billion.
The system reported total expenses of $24.8 billion through the third quarter, up 9% from the same period in 2023. Salaries, wages and benefit expenses increased 6.9% to $14.2 billion. Supply and drug costs rose 17.4% to $5.5 billion.
As of Sept. 30, the system had 281 days cash on hand, up...
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