Advocate Aurora Health’s net income more than doubles in Q2


https://www.beckershospitalreview.com/finance/advocate-aurora-health-s-net-income-more-than-doubles-in-q2.html

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Outpatient volume growth helped push Advocate Aurora Health’s revenue higher in the second quarter of 2019, according to unaudited financial documents released Aug. 22.

Advocate Aurora Health, which was formed in April 2018 and has dual headquarters in Downers Grove, Ill., and Milwaukee, reported revenue of $3.2 billion in the second quarter of 2019, up from $3 billion in the same period a year earlier. Patient service revenue climbed 8.8 percent year over year partially due to increased outpatient volume. The health system said capitation revenue dropped 9.9 percent year over year due to the conversion of a full-risk arrangement to fee-for-service.

After factoring in a 4.7 percent year-over-year increase in expenses, Advocate Aurora posted operating income of $132.3 million in the second quarter of 2019. That’s up from $107.2 million in the same period a year earlier.

The 28-hospital system reported nonoperating income of $286 million in the second quarter of this year, which includes investment income of $194.4 million. Advocate Aurora ended the second quarter of 2019 with net income of $418.4 million, up from $158.7 million a year earlier.

 

 

 

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