🔒 Advocate Aurora sees revenue rebound in first half of 2023
Advocate Aurora sees revenue rebound in first half of 2023
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Advocate Aurora Well being Inc. noticed its revenues rebound through the first half of 2023, following a 2022 fiscal yr that noticed it ending the yr $750 million within the pink, based on a report launched this week.
Unaudited quarterly disclosure statements present the well being care supplier, which shaped in 2018 as a merger between the Advocate Well being and Milwaukee’s Aurora Well being Care, signifies that it ended the primary six months of the yr with greater than $484.12 million in income in extra of bills.
Whereas 2022 was marked by funding losses for Advocate Aurora – which noticed a lack of $666 million within the second half of the yr alone – the primary half of this yr noticed its investments improve by greater than $400.67 million.
However Advocate Aurora appeared to proceed to really feel the pinch of the tight well being care labor market marked by staffing scarcity and elevated charges for staffing businesses in addition to elevated salaries for everlasting workers. It noticed an working lack of practically $21.6 million.
Like different well being care suppliers within the area, Aurora Advocate was helped by a rise in outpatient hospital and doctor visits. These visits elevated by a mixed 7% during the last six months as in comparison with the final six months of fiscal 2022. Doctor visits, specifically, elevated from about 4.87 million to about 5.23 million.