News Headlines Article

Sutter net income rises to $878m, shows best profit in years
Sacramento Business Journal

Net income at Sutter Health rose 30 percent to $878 million in 2010 — a profit margin of 9.6 percent — the best in years. Profits on the day-to-day business of health care jumped more than 45 percent, to $685 million from $471 million in 2009, according to financial reports released Friday. Revenue rose 7 percent, to $9.1 billion from $8.5 billion. Strong finances, achieved by cost cutting to offset rising demand for charity care, bolstered the balance sheet as Sutter launches a $6.5 billion plan to upgrade facilities and faces a $2 billion cut in Medicare payments over the next decade.