Downers Grove, Ill.- and Milwaukee-based Advocate Aurora Health has reported an audited operating loss of $23.9 million on revenue of $14.5 billion in 2022.
While revenues were up on 2021, expenses rose a much higher 8.2 percent to help explain the loss. The 25-hospital system recorded an operating gain of $593.6 million in 2021.
Overall, Advocate Aurora Health reported a loss of $750.8 million compared with net income of $1.8 billion in 2021.
Effective December 2022, the system merged with Charlotte, N.C.-based Atrium Health, with each system becoming the corporate members of Advocate Health. Advocate Aurora Health retains its separate legal existence, the filing said.
Advocate Aurora Health had total liabilities of $8.4 billion as of Dec. 31, including long-term debt totaling $3.3 billion.