Allina Health swings to $13.9M operating surplus in Q1

Allina Health's revenue increased year over year in the first quarter of 2021, and the Minneapolis-based health system ended the period with an operating gain, according to recently released financial documents.

The health system saw its revenue grow 10.4 percent to $1.2 billion in the quarter ended March 31. This metric includes $5 million of recognized federal relief aid.

Allina Health also saw its expenses increase year over year to $1.1 billion, an increase of 2.5 percent from the same period last year. 

The health system ended the first quarter of 2021 with an operating income of $13.9 million. In the first quarter of 2020, the system posted an operating loss of $67.5 million.

After factoring in nonoperating items, including a $55.3 million investment gain, Allina Health recorded a net income of $83.3 million in the first quarter of 2021. In the same quarter last year, Allina Health recorded a net loss of $342.5 million. 

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