EAST BAY CITIZEN. EVERYWHERE SINCE 2009

Friday, April 9, 2010

Sutter Health Posts $700 million Profit

HEALTHCARE PROVIDER SAYS IT SPENT $667 IN 'COMMUNITY BENEFITS' 
Sutter Health, the operator of San Leandro Hospital and Eden Medical Center, posted net earnings of $697 million in 2009.

The healthcare provider's net income surged from a reported $187 million in 2008, according to Sutter. "The market recovery in 2009, combined with our prudent investment strategies, resulted in a sizable gain from investments," the President and CEO of Sutter Pat Fry said on the company's web site.

Sutter also reported an investment of $667 million in community benefits, primarily to cover the costs of health care to uninsured and indigent patients throughout its network of Northern California hospitals. More than half of the outlay came from unpaid costs from Medi-Cal, while $108 million came in the form of traditional charity care, according to the financial statement. (Read it here.)

Sutter and some Alameda County officials peg the low census of insured patients at San Leandro Hospital as one of the factors debilitating the hospital's ability to be profitable. Sutter could announce the fate of San Leandro Hospital as early as next week.

Critics of Sutter allege the closing of an hospital in San Leandro at the same time as the $300 million reconstruction of Eden proceeds has overtones of "medical redlining" since residents in Castro Valley and the surrounding Dublin/Pleasanton corridor draw more affluent, "paying" customers rather the low-income patients drawn from San Leandro and Oakland.

Supporters of keeping the hospital and its emergency room in operation have also criticized Sutter for not subsidizing San Leandro Hospital with profits from elsewhere in its system. Last year, Sutter transferred $88 million from its profitable operations in Marin County before its lease expired and without the knowledge of the local healthcare district. The action caught the attention of its Assemblyman Jared Huffman, who joined state Sen. Ellen Corbett and others in asking the state attorney general's office to investigate  Sutter's business practices. 
-STEVEN TAVARES
JOIN THE REVOLUTION! www.eastbaycitizen.com

18 comments :

Sutter is swimming in fraud. Much of the uninsured numbers are padded. Our political system abuses the uninsured and so does Sutter. Preying on the poor by charging them double and listing them as a loss at double what it actually is.
Our money motivated medical system takes a single parent mother making $20,000 whose kid falls down the stairs and breaks his arm, charges her double when the hospital fixes the injury and when she can't pay the inflated bill takes her to court and garnishes her wages.Medical pedophiles.

Craig

So would you nujobs rather have Sutter losing money??? We have the best healthcare system in the World and all you freeloaders want is someone else to pay your bills. Take responsibility for your own lives!!!

No we have the most expensive health care system in the world and we're ranked 37th in quality by the World Health Organization. Like if the A's had the highest payroll and was in last place. Sutter probably actually made more money than $700 million since they charge the uninsured double and count them as a loss on the books. Also,you've got a balls insulting people while staying in the Anonymous closet.


Craig

37th in quality??? Where the hell do you get this crap from???? What country in this world has the heart transplants, liver transplants and excellent quality of care that we have??? NONE! What country leads the world in new medicines and medical equiptment???? THE USA. So take your infantile stats, place them in a bottle and suck on it.

Google World Health Organization Doctor Anonymous.

CRAIG

The save San Leandro Hospital supporters need to call for the immediate resignation of Dr. Ratnesar. He is not representing the district and the people that put him in office. He must have a hidden agenda with Sutter to keep supporting them as he has and continues to do so. We must demand his resignation!!!! Now!!!!

Oh yes, I'm sure Cuba and England have such great health systems, people are just flocking over there for the quality care they receive. bahahhahahaha
Manuel

People are flocking to the U.S. for health care? Tourists take out health insurance before they come over here so they won't get robbed by our medical system. Facts are facts (world health organization)and we're the most expensive yet the 37th best system in the world. If you bought a car that Consumer Report rated 37 yet you paid more for it than any other car, that wouldn't be too smart, would it?
Craig

Michigan would be in real dire straights if it weren't for Canadians flocking to their hospitals for care. Same with Buffalo and Rochester. Filled with Canadians.

Dream on. They get free care in Canada and they want to cross the border and pay for medical help , out of pocket no less.If what you said was true U.S. TV networks would be all over that issue , paid for by the insurance companies. On the other hand bus loads of seniors and others go to Canada for medical drugs every day from many northern states.

Craig

Craig lives in a fantasy utopia. It's a simple fact that Michigan and Upstate New York hospitals have many, many Canadians there PAYING, yes Craig I know your freeloader mentality can't comprehend anyone taking responsibility for themselves, but paying for medical care themselves because they either can't get the treatment in Canada or the waiting list is so long they fear they may never get treatment. So take your freeloader mentality Craig and save it for the next Pete Stark fan club meeting.

This anonymous commenter must be severely disappointed that he is surrounded by 13th CD residents who are fans of Pete Stark. We have voted Stark back into office nearly 20 times, helping him defeat all his opponents over the decades by wide margins.

If enough Canadians were displeased with their national healthcare system, the Conservative Party in Canada would run on repealing or substantially changing it. They do not.

This is also the case in England, where the Conservative Party has "strengthening the NHS" as part of its public platform in advance of the country's upcoming election. In fact, all other industrial nations have a national healthcare program. None are trying to tear it down.

These facts reveal that the anonymous commenter's argument is unpersuasive.

You're facts are unpersuasive. Once a freeloader program is instituted it is very hard to repeal it. Thus the Canadians and the Tory's don't attempt to repeal it. But, the FACT that their citizens come to the USA for treatment proves that socialized medicine is a cruel hoax hoisted upon the gullible.

There are many freeloaders in this District, many of whom have no ability to give rational thought other than "it's free, so it must be good". Thus they continue to send a Cheesehead like Stark back to Washington, although in 38 years his legislative record is one of laughter; nothing passed.

Another conservative who hates democracy and the majority of his fellow citizens. How un-American!

How is socialized medicine "democracy"????
Manuel

President Obama and the Democratic caucus currently in Congress talked of the need for health care reform as a primary campaign issue in the most recent nationwide election. They were voted into office. We have a representative government. The most reasonable conclusion is that the majority of voters wanted health care reform.

I hope the government can deal with that issue immediately to avoid further problems. It's very important to take notice of that thing.

health insurance plans

Post a Comment