Minnesota hospitals showed robust profits in 2010, even as the number of inpatient days in Twin Cities hospitals declined for the second successive year.
A new report shows that Minnesota hospitals had a net income of $1.2 billion on revenue of $16.7 billion in 2010, compared with $974.6 million in profits on revenue of $15.7 billion in 2009. The analysis made by independent health policy researcher Allan Baumgarten includes data from 136 acute care hospitals in Minnesota as well as nine in neighboring states.
So, which hospitals made the most money? Here is a list of the top five hospital/health systems in 2010.
When Investment Rhymes with Canada
Canada has a proud history of achievement in the areas of science and technology, and the field of biomanufacturing and life sciences is no exception.
1. Mayo Clinic
Revenue: $1.77 billion
Net income: $267.6 million
2. Sanford Health
Revenue: $1.15 billion
Net income: $143.6 million
3. Avera
Revenue: $445.2 million
Net income: $71.6 million
4. Essentia
Revenue: $1.21 billion
Net income: $67.7 million
5. St. Cloud Hospital
Revenue: $558.5 million
Net income: $59.3 million
But if profit margins are the measure of a hospital or health system’s success, then the top five rankings are a tad different.
1. Prairie St. John’s
Margin: 18.4 percent
Revenue: $32.7 million
2. Avera
Margin: 16.1 percent
Revenue: $445.2 million
3. Allina Health
Margin: 15.1 percent
Revenue: $270.1 million
4. Mayo Clinic:
Margin: 15.1 percent
Revenue: $1.77 billion
5. St. Cloud Hospital
Margin: 10.6 percent
Revenue: $558.5 million
