Allina Health loss grows to $154M over 9 months

Allina Health's revenue declined year over year in the first nine months of this year, and the Minneapolis-based health system ended the period with an operating loss, according to unaudited financial documents released Nov. 12. 

Allina's revenue was down 4 percent in the first three quarters of this year. The health system received government assistance to help offset revenue losses tied to the pandemic. As of Sept. 30, Allina had received $166.8 million in aid from the state and federal government. 

Allina's operating expenses declined 1.4 percent year over year, and it ended the first nine months of 2020 with an operating loss of $98.8 million. In the same period of 2019, the system posted an operating loss of $16.2 million. The decline was attributed to a disruption in services, especially nonemergent surgeries and clinic visits, in the last two weeks of the first quarter due to the COVID-19 pandemic.  

After factoring in nonoperating items, Allina ended the first three quarters of this year with a net loss of $153.7 million, compared to net income of $142.4 million in the same period a year earlier. 

As of Sept. 30, the health system had 268 days cash on hand. 

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