The integrated healthcare delivery system Sutter Health released its financial statements—one of the toughest financial years in Sutter’s 100-year history. In 2020, Sutter Health responded to the COVID-19 pandemic and managed the pandemic’s vast impact across its network. Costs from these and other challenges within Northern California contributed to operating losses of $321 million and a negative 2.4%* operating margin.
Investment income helped offset some losses associated with operations as the organization ended the year with $134 million in 2020 income. Sutter Health posted $645 million in investment income and changes in net unrealized gains and losses from investments in 2020, compared to $737 million the prior year.
Dollars in millions
2020 | 2019 | |
---|---|---|
Operating Revenue | $ 13,220 | $ 13,304 |
Operating Expenses | 13,541 | 13,852 |
(Loss) Income from Operations | (321) | (548) |
Investment Income | 205 | 246 |
Change in net unrealized gains and losses on investments | 440 | 491 |
Other components of net periodic postretirement cost | 78 | - |
Loss on extinguishment of debt | (202) | - |
Income | 200 | 189 |
Less income attributable to non-controlling interests | (66) | (75) |
Income attributable to Sutter Health | 134 | 114 |
Capital Investment | 431 | 662 |
*April 1, 2020 S&P report