Allina Health operating loss grows to $85M in Q2

Allinas business expenses declined 8.4 percent year over year, and it ended the second quarter of 2020 with an operating loss of $85 million. In the second quarter of 2019, the system published an operating loss of $14.4 million..

After considering nonoperating products, including a $156.2 million gain on investments, Allina ended the second quarter of this year with net income of $67.3 million. In the same period a year earlier, the system posted net income of $25.8 million..

The health system has actually gotten government help to help balance out earnings losses tied to the pandemic. As of June 30, Allina had received $108.4 million in help from the state and the federal government. The system got an extra $51 million in federal grants in July..

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Allina Healths earnings declined year over year in the 2nd quarter of 2020, and the Minneapolis-based health system ended the period with an operating loss, according to just recently launched monetary documents.

Since June 30, the health system had 248 days of money on hand..

Allinas earnings declined 15 percent year over year to $927 million in the 2nd quarter of 2020, which ended June 30. The health system earnings was down 8.2 percent for the very first half of this year. The decline was credited to lowered client volumes throughout the suspension of elective procedures previously this year and the unrest experienced in Minneapolis and St. Paul, Minn., in the after-effects of the death of George Floyd..

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Allinas profits decreased 15 percent year over year to $927 million in the 2nd quarter of 2020, which ended June 30. The health system earnings was down 8.2 percent for the very first half of this year. The health system has received government help to help offset earnings losses tied to the pandemic.