Sutter Health Posts Strong Earnings, Warns of Challenges
On Friday, Sutter Health reported a 2010 net income of $878 million, up by 30% from its 2009 net income of $677 million. Meanwhile, revenue increased by 7% to $9.1 billion. Despite the strong earnings report, Sutter Health President and CEO Pat Fry cited "unprecedented" financial challenges related to the federal health reform law, state budget problems and other factors. In a letter accompanying Friday's earnings report, Fry wrote, "To weather these new economic realities and ensure we remain financially healthy, we must significantly reduce expenses."
- "Sutter Net Income Rises to $878M, Shows Best Profit in Years" (Robertson, Sacramento Business Journal, 3/25).
- "Sutter Health Posts Rosy Results, Warns of Financial Strains Ahead" (Smith, Sacramento Bee, 3/26).
- "Sutter Health's 2010 Profits Surge 30 Percent to $878M" (Rauber, San Francisco Business Times, 3/25).