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Sutter Health's fiscal health is getting a big boost from the hospital chain's acquisitions in the Bay Area.
Recently released audited year 2000 financials for the 26-hospital chain show that Sacramento-based Sutter increased both revenues and profits year.
Sutter posted $35 million in operating profit on 2000 revenues of $3.5 billion. Comparatively, Sutter squeezed out just $4 million from revenues of $2.9 billion in 1999.
According to Sutter's Chief Financial Officer Bob Reed, the jumps in revenue are attributable to the affiliation of the 523-bed Summit Medical Center in Oakland and the 170-physician Camino Medical Group in Sunnyvale.
Sutter also earned $55 million from investments, and pulled in $21 million from a one-time sale of Palo Alto real estate, for a total of $111 million profit for the year,
While a 1 percent profit margin may not seem like a lot, in the health care world of dropping Medicare and insurance reimbursement and rising cost of everything, any profit is...