Nosedive in Investment Income Strikes at Sutter Health’s 2008 Results
Sacramento-based Sutter Health announced that its net income dropped by 70% in 2008 largely because investment income dropped from $169 million in 2007 to $8 million in 2008, the Sacramento Business Journal reports (Robertson, Sacramento Business Journal, 4/9).
Operating income also fell from $471 million in 2007 to $463 million in 2008.
For 2008, the health system reported net income of $186 million, down from $623 million in 2007.
Operating revenue for 2008 was $8.3 billion, up by 8% from $7.7 billion in 2007 (Sacramento Business Journal, 4/9).Sutter said that it will slow down some capital projects but that work will continue on projects currently under way (Sacramento Bee, 4/10). This is part of the California Healthline Daily Edition, a summary of health policy coverage from major news organizations. Sign up for an email subscription.