Sutter Health posts net income in second quarter after $1B first-quarter loss

The system likewise taped nonoperating gains, including $12 million in investment earnings and $514 million in net unrealized gains..

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Sutter Health saw its costs reach $3.3 billion in the 2nd quarter, which is a decrease of about $27 million from the 2nd quarter of 2019..

In the three months ended June 30, Sutter Health saw its earnings hit $2.9 billion, down 12.1 percent from the exact same duration last year when the system posted profits of $3.3 billion. The systems client service income decreased in the second quarter to $2.2 billion. © Copyright ASC COMMUNICATIONS 2020. Intrigued in LINKING to or REPRINTING this material?

From April 2020 through July 2020, Sutter Health received over $400 million in COVID-19 relief aid and $1 billion in accelerated Medicare payments. The accelerated payments are expected to be repaid in a year, Sutter Health said..

Sutter Health recorded a net income of $220 million in the 2nd quarter of 2020. This compares to an earnings of $113 million in the exact same quarter one year prior..

Alia Paavola –
Friday, August 21st, 2020
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Sutter Health said the COVID-19 pandemic “led to among the worst equity market events in financial history during the first quarter,” nevertheless, it saw a “considerable rebound” during the 2nd quarter..

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Sacramento, Calif.-based Sutter Health saw its monetary image improve in the 2nd quarter of 2020, after publishing a $1.1 billion loss in the first quarter, according to just recently released financial documents.

Overall, the system taped a $321 million operating loss in the second quarter. This compares to an operating gain of $36 million in the same quarter in 2019..

In the three months ended June 30, Sutter Health saw its incomes hit $2.9 billion, down 12.1 percent from the exact same duration last year when the system published earnings of $3.3 billion. The systems patient service revenue decreased in the second quarter to $2.2 billion. This compares to $2.8 billion in client service revenue in the exact same duration one year prior..