Banner Health's annual operating income sinks 31%

Banner Health saw revenues increase last year, but the Phoenix-based health system ended 2018 with lower operating income than in the year prior, according to audited financial documents released March 25.

Four things to know:

1. Banner's revenues climbed 8.7 percent year over year to $8.5 billion in 2018.

2. Higher expenses offset Banner's revenue gains. Banner said expenses grew 10.2 percent year over year to $8.3 billion in 2018.

3. Banner ended 2018 with operating income of $186.3 million, down 31.2 percent from $270.7 million in 2017.

4. After factoring in nonoperating items, including investment losses, Banner ended 2018 with net income of $44 million. That's down 94 percent from 2017, when the system posted net income of $709.4 million.

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