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Category Archives: Financial Reporting
Anthem: No change in 2020 profit forecast
Anthem reaffirmed its profit guidance for 2020 as the insurer expects continued financial growth despite the COVID-19 pandemic, according to a June 9 filing with the Securities and Exchange Commission.
Anthem officials said their full-year guidance will be greater than $21 per share. The company expects to generate about 70 percent of its adjusted earnings in the first half of the year.
Anthem reported first-quarter revenues of $29.6 billion, up from $24.7 billion in the same period a year before. Anthem ended the quarter with $1.5 billion in profits, down slightly from $1.6 billion a year prior.
Health system financial results for Q1
The health systems listed below recently released financial results for the quarter ended March 31.
| Health system | Revenue | Operating income | Net income |
| Indiana University Health | $1.6 billion | $77.6 million | -$631.3 million |
| Allina Health | $1 billion | -$67.5 million | -$342.5 million |
| Kaiser Permanente | $22.6 billion | $1.3 billion | -$1.1 billion |
| Beaumont Health | $1.1 billion | -$54.1 million | -$278.4 million |
| BayCare | $1.1 billion | $50 million | -$656.4 million |
| CommonSpirit Health | $7.8 billion | -$145 million | -$1.4 billion |
| Mayo Clinic | $3.2 billion | $29 million | -$623 million |
| Henry Ford Health System | $1.5 billion | -$36.2 million | -$234.5 million |
| Intermountain Healthcare | $2.3 billion | $115 million | -$1 billion |
| Advocate Aurora Health | $3.1 billion | -$85.6 million | -$1.3 billion |
| Texas Health Resources | $1.1 billion | -$13.8 million | -$802.9 million |
| Banner Health | $2.4 billion | $30.6 million | -$683.5 million |
| Ascension | $6.1 billion | -$429.4 million | -$2.7 billion |
| AdventHealth | $2.9 billion | $35.7 million | -$578.5 million |
| Ochsner Health | $965 million | -$32.8 million | -$143.6 million |
| Providence | $6.3 billion | -$276 million | -$1.1 billion |
| Cleveland Clinic | $2.6 billion | -$39.9 million | -$830.6 million |
| Sutter Health | $3.2 billion | -$236 million | -$1.1 billion |
| Dartmouth-Hitchcock Health | $563 million | -$59.3 million | -$150.3 million |
| UPMC | $5.5 billion | -$41 million | -$653 million |
| Montefiore Health System | $1.5 billion | -$116.1 million | -$96.7 million |
| Allegheny Health Network | $891 million | -$59.5 million | -$98.5 million |
| SSM Health | $1.9 billion | -$78 million | -$471.1 million |
| Northwell Health | $3.1 billion | -$141 million | -$710 million |
| MedStar Health | $1.5 billion | $32.2 million | -$246.8 million |
| Scripps Health | $899.6 million | $47.1 million | -$296 million |
| NewYork-Presbyterian | $2.2 billion | -$128.5 million | -$569.4 million |
US hospitals losing $1.4B in revenue per day
Hospitals across the U.S. are losing more than $1 billion in daily revenue as they experience significant declines in patient volume during the COVID-19 pandemic, according to a report from Crowe, a public accounting, consulting and technology company.
With the exception of those in San Francisco and New York City, health systems across the country saw patient volume decline an average of 56 percent between March 1 and April 15. As a result, net revenue at hospitals with more than 100 beds dropped roughly $1.44 billion per day, according to the report.
The report, released May 1, said inpatient admissions are down more than 30 percent, emergency room visits dropped 40 percent and outpatient surgery volume plummeted 71 percent, compared to January.
“Hospitals and governments prepared for a surge in patient volume to treat those infected with the novel coronavirus,” Brian Sanderson, managing principal of healthcare services at Crowe, said. “However, any possible surges that might have been expected due to COVID-19 patient volume appear to be dramatically offset by a significant decline in volume in all other areas.”
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HENRY KOTULA 