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FINANCIAL MANAGEMENT
ADVOCATE AURORA'S NET INCOME MORE THAN TRIPLES TO $1.8B
Alia Paavola - yesterday Print | Email
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Advocate Aurora Health saw its revenue, operating margin and net income increase
in 2021, according to financial documents released March 21.
The health system, which has dual headquarters in Milwaukee and Downers Grove,
Ill., saw its revenue increase to $14.1 billion in 2021, up from $13.1 billion
in 2020.
Advocate Aurora's expenses rose 4.9 percent year over year to $13.4 billion.
This included $7.7 billion in salaries, wages and benefits and $564.6 million in
contract labor expenses. When compared to 2020, expenses for salaries, wages and
benefits were up just 3.2 percent and contract labor was up 12 percent.
After factoring in all expenses, Advocate Aurora ended the period with an
operating income of $593.6 million.
Advocate Aurora also saw strong nonoperating gains in 2021. The health system
recorded $1.3 billion in nonoperating gains in 2021, compared to $395.2 million
in nonoperating gains recorded in 2020.
Overall, Advocate Aurora ended 2021 with a net income of $1.8 billion, more than
triple the $558 million recorded in 2020.
Advocate Aurora operates 24 acute care hospitals, an integrated children's
hospital and a psychiatric hospital.
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