Chicago-based Northwestern Memorial HealthCare reported a surplus of $586.24 million for fiscal year 2014, up from the $309.48 million surplus the system posted for fiscal 2013.
The system's revenue significantly increased in fiscal 2014, growing to $2.44 billion, up from $1.71 billion in fiscal 2013, with net patient service revenue increasing from $1.62 billion last year to $2.38 billion in fiscal 2014.
However, the system's expenses also increased in fiscal 2014, growing to $2.28 billion compared to $1.58 billion last year. The system's expenses related to salaries and professional fees increased from $578.92 million in fiscal 2013 to $938.97 million this year.
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