If you get blown over in the Windy City, Northwestern Memorial HealthCare (NMHC) can get you upright again. Its primary facility, Northwestern Memorial Hospital (NMH), is a teaching hospital serving residents of the Chicago area, offering virtually every medical specialty. The hospital has more than 890 beds and is affiliated with Northwestern University's Feinberg School of Medicine. NMHC also operates the 200-bed Northwestern Lake Forest Hospital, ambulatory surgery centers, physicians' practices, community clinics, a home hospice program, and health and wellness centers. Other subsidiaries of the NMHC health system include a philanthropic foundation, an insurance company, and a managed care contracts provider.
Other facilities operated by NMHC include Prentice Women's Hospital and Stone Institute of Psychiatry, which are located on the NMH campus. The Prentice Women's Hospital offers services such as obstetrics, gynecology, breast and plastic surgery, hematology/oncology, and neonatal intensive care. In addition, the Northwestern Lake Forest Hospital includes a health and fitness institute and a skilled nursing facility for seniors.
Founded in 1972, Northwestern Memorial Hospital and the Feinberg School of Medicine are heavily involved in medical research and conduct thousands of clinical research studies in a range of disciplines each year. NMHC employs some 1,600 physicians who are also faculty members at the Feinberg School of Medicine.
NMHC experienced a 1% rise in revenues in 2012 to some $1.7 billion; the growth was attributed to increased earnings from patient services, especially from higher reimbursements from Medicare and other third-party payers. However, net income dropped by 58% to some $122 million due to decreased returns on investments.
NMHC, like many metropolitan health care providers, is upgrading and expanding its facilities to meet the demands of a growing population. For instance, the Prentice Women's Hospital increased the size of its neonatal intensive care unit in 2010. In addition, in 2012 NMHC announced plans to open six new physician practice locations in the Chicago area. – less
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