Intermountain's annual net income tops $1B

Salt Lake City-based Intermountain Healthcare saw its annual net income grow more than 10 percent to $1.2 billion in 2020, according to recently released financial documents. 

The growth in net income was largely attributed to nonoperating gains, which totaled $794 million in 2020.

In the 12 months ended Dec. 31, the health system recorded net revenue of $7.7 billion, up from $7 billion recorded in 2019. Although total revenue grew year over year, patient service revenue dropped slightly from $6 billion recorded in 2019 to $5.9 billion recorded in 2020.

During 2020, Intermountain also recognized $220 million in grants from the Coronavirus, Aid, Relief and Economic Security Act.

Intermountain's expenses climbed in 2020 to $6.9 billion, up from $6.1 billion recorded in 2019. 

The hospital system ended the year with an operating income of $378 million, an increase of $4 million from 2019.

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