Sutter Health 2013 income of $300M a sharp drop from 2012

Published: Thursday, Mar. 6, 2014 - 11:34 am

Sacramento-based Sutter Health said today that its 2013 income totaled $300 million, a sharp decline from $735 million in 2012.

Sutter said combined 2013 systemwide losses from the day-to-day operations of its hospitals, care centers and other services totaled $22 million, compared with a gain of $549 million in 2012.

Sutter Health said it posted $380 million in investment income and changes in net unrealized gains and losses from investments classified as trading in 2013, compared with $242 million in 2012. The system’s operating revenues were about $9.6 billion in both 2013 and 2012.

Sutter said its 2013 operations included $122 million of net supplemental payments associated with California’s temporary program to obtain federal matching dollars to partially offset underpayments in previous years for the care of Medi-Cal patients. Sutter Health said it cared for 22 percent of all Medi-Cal patients discharged from hospitals in the counties served by its network in 2012, based on Office of Statewide Health Planning & Development data. Data for 2013 is not yet available, Sutter said.

Sutter Health also noted that it invested more than $1 billion in new facilities and technology throughout Northern California.

“Despite an increasingly challenging operating environment, Sutter Health’s balance sheet remains strong, and we continued critical investments in 2013 to enhance access to health care services and improve clinical quality and efficiency,” said Pat Fry, Sutter Health president and CEO.

Call The Bee’s Mark Glover, (916) 321-1184.

Read more articles by Mark Glover

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