SummaHealth revenue increases to $1.5 billion in 2020 amid the coronavirus
CLEVELAND, Ohio — Summa Health reported about $1.5 billion in total revenue in 2020, according to an annual report released Tuesday, up from $1.4 billion ahead of the pandemic in 2019.
Most of 2020′s revenue came from the Summa Health hospitals, with the health insurance company SummaCare contributing about $400 million, and Summa Health Medical Group adding about $184 million.
During a year of uncertainty brought on by the COVID-19 pandemic, Summa Health continued to make progress on phase two of its master facility plan, said a statement signed by SummaHealth President and CEO Dr. Cliff Deveny, and board chairman George Strickler.
Phase two includes the construction of a $60 million, 60-bed inpatient and outpatient behavioral health facility on SummaHealth’s Akron Campus.
The 2020 Year in Review discussed how the health system rose to the challenge of delivering care during a global pandemic.
“The pandemic served as a catalyst for Summa Health to make rapid changes to improve how we deliver care,” the health system said. These changes included care options such as telehealth and drive-up COVID testing.
SummaHealth also released a three-part video series, “Impact of COVID-19 Across Our Organization,” that offers a look at how hospital staff dealt with adversity at the height of the pandemic.
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