Financial Report

Despite a challenging economy, in fiscal year 2009 Northwestern Memorial recorded strong financial performance from operations, continued to improve healthcare quality and advanced the strategic plan shared with Northwestern University Feinberg School of Medicine.

Disciplined long-term planning enabled Northwestern Memorial to respond to the growing needs of our patients and the community. We delivered medical care to a record number of patients, including the expanding number of those with inadequate or no medical insurance. We are proud of our ongoing community service partnerships and initiatives. Northwestern Memorial provided $225.7 million in unreimbursed care and community benefit in fiscal year 2009 including $31.3 million in charity care.

With the goal of becoming a “Top 10 Academic Medical Center by 2020,” we continue to build financial resources to invest in top talent and to fund our world-class research, medical education, community services and clinical innovation.

We look forward to the upcoming year with confidence. Northwestern Memorial has maintained a credit rating of AA for more than 25 years and continues as one of only four hospitals or healthcare institutions in the country with the highest AA+ bond rating from Standard & Poor’s. Our financial strength and planning will continue to support the achievement of our mission as well as our vision for Northwestern Medicine.

Download a PDF of the Financial Report  

Peter J. McCanna
Executive Vice President, Administration
and Chief Financial Officer
Northwestern Memorial Hospital