Business & Real Estate

Sutter Health reports 2014 profits up 34 percent

Chelsea Hallford, a nurse at Sutter Memorial, checks in on patient Britta Sharpe on the cardiac ward Friday, Sept. 12, 2014.
Chelsea Hallford, a nurse at Sutter Memorial, checks in on patient Britta Sharpe on the cardiac ward Friday, Sept. 12, 2014. lsterling@sacbee.com

Sacramento-based Sutter Health said Friday that it had net income of $402 million in 2014, up 34 percent from $300 million in 2013.

The health system said operating revenue last year totaled $10.2 billion, up from $9.6 billion in 2013.

As part of its 2014 financial performance report, Sutter said it invested $983 million in new facilities and life-saving technology throughout Northern California last year. Renovations and construction projects took place at Sutter facilities including Sacramento, San Francisco, Oakland, Berkeley, Los Gatos and Turlock.

Sutter Health President and CEO Pat Fry said in a statement: “Our communities count on us to make the investments needed to ensure our hospitals meet earthquake standards and our physician network keeps up with patient demand and expectations for high-quality and convenient access.”

Sutter also noted that it treated 21 percent of all Medi-Cal patients discharged from hospitals in the Northern California counties it serves in 2013, according to state data. Data for 2014 is not yet available.

The system said its total 2014 community benefit investment was $767 million, compared with $901 million in 2013. Sutter said that segment includes charity care and unreimbursed costs of providing care to Medi-Cal patients, as well as health education and public programs such as community clinics and prenatal care for low-income patients.

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

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