Allina Health's investment losses bring 92% drop to annual net income

Allina Health's revenues increased in 2018, but the Minneapolis-based health system ended the year with lower operating income and net income than in the year prior, according to audited financial documents released March 13.

Allina reported revenues of $4.4 billion in 2018, up from $4.2 billion in 2017. The boost was attributable to higher net patient service revenue, which climbed 5.7 percent year over year.

The system's operating expenses totaled $4.3 billion in 2018, up from $4 billion a year earlier. Expenses grew across several categories, including supplies and salaries and benefits.

Allina ended 2018 with operating income of $86.3 million. That's down 42 percent from 2017, when the system reported operating income of $148.2 million.

After factoring in nonoperating items, including a $59.6 million investment loss, Allina's net income tumbled 92.4 percent year over year to $22.4 million in 2018.

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