Sutter Health posted its audited financial statements for 2022. The integrated health system experienced increased operating revenues last year due in large part to the hard work and dedication of employees, physicians and clinicians providing high-quality care to patients. It ended 2022 with $278 million in operating income. However, increases in expenses and changes in unrealized net gains and losses on investments negatively impacted Sutter’s overall financial performance that resulted in a loss of $249 million for 2022.
2022 Financial Performance
Financials in Greater Context
In 2022, Sutter continued efforts started in 2021 to help the organization recover financially from the pandemic and from some longstanding industry challenges. Meanwhile, more patients started returning to care centers across the system to access Sutter’s high-quality care, with patient volumes returning to near-2019 levels by year’s end. Together these actions provide the organization a stable base to invest in the future.
Sutter’s operating performance could not completely offset other factors such as $578 million in net unrealized gains and losses on investments. There was a large, year-to-year swing in investment income—from $758 million in 2021 to $130 million in 2022. And like other healthcare organizations around the country, Sutter continued to experience inflationary pressures that resulted in increases in key expenses such as wages and benefits, and supplies.
Dollars in millions
|Income (loss) from Operations||278||199|
|Change in net unrealized gains and losses on investments||(578)||122|
|Loss on deconsolidation of affiliate||(208)||-|
|Other components of net periodic postretirement cost||209||142|
|Less income attributable to non-controlling interests||(80)||(83)|
|Income (loss) attributable to Sutter Health||(249)||1,138|
Read more about Sutter’s 2022 financial performance on Vitals.