The financial strength of all US Non-Profit Hospital Organizations, which hold an extensive treasure chest of investments in equity and debt securities, was just devastated in 2008 by the financial meltdown of the US economy.
And just like the financial strength of the Catholic Hospitals being resurrected in the past two years, the financial strength of the non-Catholic, Non-Profit Hospitals have likewise been resurrected in the past two years, and even more so.
This financial turnaround was due mainly to many wise actions by the Obama Administration, by the Fed, and by the US Congress, which created a US economic infrastructure which permitted US large businesses to flourish, with the resultant substantial rise in stock prices of Big Corps in the past two years.
Frankly, I was surprised at just how robust the growth in Net Assets (i.e. Excess of Total Assets over Total Liabilities) of Catholic Hospital Organizations was in the most recent two years….29% is monster growth, particularly when considered in light of the Net Assets amounts two years earlier being predominately the result of untaxed hospital operating earnings and untaxed investment portfolio returns, both accumulated over decades and decades.
But guess what? The Big non-Catholic, Non-Profit Hospitals generated substantially higher growth in their Net Assets in the most recent two years than did the Catholic Hospitals. In just the past two years, these Big Non-Profit Hospitals registered an increase in their Net Assets of a remarkable 39%. No, that’s not a misprint.
From an extensive review of the financial statements of non-Catholic, Non-Profit Hospitals, I found 134 of them with Net Assets (i.e. Excess of Total Assets over Total Liabilities) of at least $500 mil each. These financial statements were found mainly in two very fine Internet sources: DAC Bond and EMMA (i.e. Electronic Municipal Market Access of the Municipal Securities Rulemaking Board).
Of these 134 Big Non-Profit Hospital Organizations, I could find very recent (1Q 2011) Net Assets amounts for 120 of them. Thus, I could derive reliable Net Asset growth for roughly the most recent two years for just these 120.
These 120 Big Non-Profit Hospital Organizations had total Net Assets of $191.5 bil at the most recent balance sheet date, which was March 31, 2011 for the overwhelming majority of them.
In comparison, the total Net Assets of these same 120 Non-Profit Hospital Organizations were $138.2 bil at their respective closest fiscal year ends two years earlier.
Thus, the Net Assets of these 120 Non-Profit Hospital Organizations increased by $53.3 bil, or by a remarkable 39%, in just the most recent two years.
Clearly, the executives of Non-Profit Hospitals, all employees of Non-Profit Hospitals, the Board of Directors of Non-Profit Hospitals, and the bondholders of these Non-Profit Hospitals have to all be elated with what has happened with the financial strength of their Non-Profit Hospitals during the Obama Administration.
Let me illustrate what drives the growth in a hospital organization’s Net Assets by focusing on one of the largest Non-Profit Hospital Organizations, the highly-respected Cleveland Clinic.
On December 31, 2008, Cleveland Clinic had total Net Assets of $2.7 bil. At its most recent March 31, 2011 balance sheet, twenty seven months later, its total Net Assets have grown to $4.5 bil, or an increase of $1.8 bil, or 65%.
Let me lay out the key components of this $1.8 bil increase in Cleveland Clinic’s Net Assets.
For the most recent 27 Months, Cleveland Clinic generated:
…Net Hospital Operating Income of…………........$652 mil
…Non-operating Investment Returns of.............$837 mil
…Gifts and Bequests…………………………................$211 mil
…Other-net……………………………………………...........$73 mil
= Total increase in Net Assets……………............$1,773 mil
Yeah, that’s right, due mainly to the substantial strengthening of the US economy in the past 27 months, Cleveland Clinic’s total Investment Returns of $837 mil, were much higher than its Net Operating Income from its hospital operations of $652 mil over the same period.
To provide more insight, let me look closer at the balance sheet of the largest of these Non-Profit Hospitals: Kaiser Permanente (KP).
At March 31, 2011, KP’s total Investments, both short-term and long-term, totaled $21.1 bil, 52% higher than its Net Assets balance of $13.9 bil. It's easy to see why KP generates huge investment returns, given the mega amount of its investments.
With KP having such a high total investment balance of $21.1 bil, coupled with total Property, plant, equipment, and software of $18.4 bil, it must have tons of interest-bearing debt? Actually, it doesn’t. Its total interest-bearing debt is only $5.7 bil.
So, what is the main missing link to balance KP’s balance sheet? Well, it’s KP’s gargantuan pension and other retirement liabilities, which total $13.2 bil.
When pundits focus on the huge health care cost problem that the country has, I hear no one talk about the massive amounts of health care cost added by the massive amounts of pension and other retirement liabilities on the books of Non-Profit Hospital Organizations. Given that KP’s total retirement liabilities are $13.2 bil, the total for all Non-Profit Organizations must be off-the-charts.
Softening somewhat the severe blow here was the Obama Administration-driven upward explosion of the stock market in the most recent two years, which resulted in the buttressing of pension plans assets of all organizations, Non-Profit Hospitals as well as Commercial Enterprises, from their financially desperate status at the end of 2008.
Anyway, here are these 120 non-Catholic, Non-Profit Hospital Organizations:
......................................................................Balance Sheet
................................................................................2 Years
.......................................................................Most...Earlier
..Hospital Organization...........HQs..........FYE..Recent...FYE
Kaiser Permanente...........Oakland,CA.....Dec..Mar11..Dec08
Sutter Health....................Sacramnto,CA.Dec..Mar11..Dec08
Partners Healthcare Sys....Boston,MA......Sep..Mar11..Sep09
Mayo Clinic.......................Rochester,MN.Dec..Mar11..Dec08
Adventist Health System...Wntr Prk,FL....Dec..Mar11..Dec08
Cleveland Clinic Hlth Sys...Cleveland,OH..Dec..Mar11..Dec08
BJC Healthcare...................St Louis,MO...Dec..Mar11..Dec08
Mem Sloan-Kttrng Canc Ctr.NY,NY..........Dec..Mar11..Dec08
UPMC.................................Pittsburgh.....Jun..Mar11..Jun09
Advocate HlthCare Ntwrk...Oak Brook,IL.Dec..Mar11..Dec08
The Methodist Hospital Sys.Houston,TX...Dec..Mar11..Dec08
NY and Presbyterian Hosp.NY,NY...........Dec..Mar11..Dec08
Banner Health.....................Phoenix,AZ...Dec..Mar11..Dec08
Inova Health System..........Northern VA..Dec..Mar11..Dec08
Baylor Health Care System.Dallas,TX........Jun..Mar11..Jun09
Carolinas Health Care Sys....Charlotte,NC..Dec..Dec10..Dec08
Texas Health Resources.......Dallas,TX......Dec..Mar11..Dec08
Indiana University Health...Indianapolis..Dec..Mar11..Dec08
Texas Children's Hospital....Houston,TX....Sep..Mar11..Sep09
Johns Hopkins Hlth Sys......Baltimore,MD.Jun..Mar11..Jun09
Baycare Health System........Tampa,FL......Dec..Mar11..Dec08
Children's Hosp Philly..........Philadelphia..Jun..Dec10..Jun09
Sentara Health Care.............Norfolk,VA....Dec..Mar11..Dec08
Nrthwstern Mem Hlth Care..Chicago,IL....Aug..Feb11..Aug09
Children's Healthcare..........Atlanta,GA....Dec..Mar11..Dec08
Jefferson Health System......Radnor,PA....Jun..Mar11..Jun09
Baptist Health South FL.......Miami,FL.......Sep..Mar11..Sep09
Novant Health..................Winston-Salem.Dec..Mar11..Dec08
Duke University Hlth Sys....Durham,NC.....Jun..Mar11..Jun09
Meml Hermann HC Sys.......Houston,TX....Jun...Mar11..Jun09
Scripps Health....................San Diego,CA..Sep..Mar11..Sep09
OhioHealth........................Columbus,OH..Jun..Mar11..Jun09
North Shore Univ Hlth Syst.Evanston,IL...Sep..Mar11..Sep09
Iowa Health System............Des Moines....Dec..Mar11..Dec08
Univ Penn Health System....Philadelphia...Jun..Mar11..Jun09
Sanford...............................Sioux Falls....Jun..Mar11..Jun09
ProMedica Health Care........Toledo,OH.....Dec..Dec10..Dec08
Spectrum Health System.....Grand Rapids.Jun..Mar11..Jun09
Henry Ford Health System...Detroit,MI....Dec..Mar11..Dec08
Seattle Children's Healthcare.Seattle.........Sep..Mar11..Sep09
Allina Health System...........Minneapolis...Dec..Mar11..Dec08
Premier Health Partners......Dayton,OH.....Dec..Dec10..Dec08
LifeSpan..............................Providence....Sep..Mar11..Sep09
Univ Hospitals Health Sys....Cleveland......Dec..Mar11..Dec08
Rush Univ Medical Center....Chicago,IL....Jun..Mar11..Jun09
Presbytrian Hlth Care Svcs..Albuquerque..Dec..Mar11..Dec08
Adventist Health West.........Rosevlle,CA...Dec..Mar11..Dec08
Children's Medical Center.....Dallas,TX......Dec..Mar11..Dec08
NoShre Lng Isl Jewish Hlth...NY,NY.........Dec..Mar11..Dec08
South Broward Hosp Distr.....Hollywd,FL..Apr..Jan11..Apr09
Children's Memrial Med Ctr...Chicago,IL....Aug..Feb11..Aug09
Univ Maryland Medical Sys...Baltimore.....Jun..Mar11..Jun09
Christiana Care Hlth Svcs......Wilmington...Jun..Mar11..Jun09
CareGroup Hlth Care System..Boston,MA...Sep..Mar11..Sep09
St Lukes Episcopl Hlth Sys.....Houston,TX...Dec..Mar11..Dec08
Stanford Hosp & Clinics.........Palo Alto,CA..Aug..Feb11..Aug09
Cook Children's Health..........Dallas,TX........Sep..Mar11..Sep09
University Chicago Med Ctr..Chicago,IL......Jun..Mar11..Jun09
Sharp Health Care.................San Diego,CA...Sep..Mar11..Sep09
Medical College Wisconsin....Milwaukee,WI.Jun..Mar11..Jun09
Dallas County Parkland Hsp...Dallas,TX........Sep..Dec10..Sep08
Cone Health...........................Grnsboro,NC..Sep..Mar11..Sep09
Froedtert&Community Hlth...Milwaukee....Jun....Mar11..Jun09
Orlando Health......................Orlando,FL....Sep..Mar11..Sep09
Baylor College Medicine........Houston,TX....Jun..Mar11..Jun09
Children's Hospital LA...........Los Angeles...Jun..Mar11..Jun09
Alegent Health......................Omaha,NE......Jun..Mar11..Jun09
Aurora Health Care...............Milwaukee,WI.Dec..Mar11..Dec08
MedStar Health.....................Columbia,MD..Jun..Mar11..Jun09
Mt Sinai School Medicine.......NY,NY...........Dec..Dec10..Dec08
No Carolina Baptist Hosp.......Wnston-Salem.Jun..Mar11..Jun09
Central Georgia Hlth Sys........Macon,GA......Sep..Mar11..Sep09
Legacy Health System............Portland,OR...Mar..Mar11..Mar09
West VA United Hlth Sys........Fairmont,WV..Dec..Mar11..Dec08
Scott & White Healthcare........Central TX.....Aug..Feb11..Aug09
Queens Health Systems..........Honolulu,HI...Jun..Mar11..Jun09
Virtua Health.........................South NJ........Dec..Mar11..Dec08
Reading Hospital...................Reading,PA.....Jun..Mar11..Jun09
Parkview Health System.........Ft Wayne,IN...Dec..Mar11..Dec08
Integris Health......................Oklahoma,OK..Jun..Mar11..Jun09
Mount Sinai Hospital..............NY,NY...........Dec..Mar11..Dec08
Greenville Hospital System....Greenville,SC..Sep..Mar11..Sep09
Lehigh Valley Health Ntwrk..Allentown,PA..Jun..Mar11..Jun09
McLaren Health Care..............Flint,MI.........Sep..Mar11..Sep09
Children's Health Care WI.......Milwaukee.....Dec..Mar11..Dec08
Community Health Network...Indianapolis...Dec..Mar11..Dec08
Methodist Health System.......Dallas,TX........Sep..Mar11..Sep09
Piedmont Health Care............Atlanta,GA.....Jun..Mar11..Jun09
Palmetto Health....................Columbia,SC....Sep..Mar11..Sep09
University Colorado Hosp.....Aurora,CO......Jun..Dec10..Jun09
St. George Corporation..........Chicago..........Dec..Mar11..Dec08
Essentia Health......................Duluth,MN.....Jun..Mar11..Jun09
Shands Teach Hosp&Clinics....Gainesvlle,FL.Jun..Mar11..Jun09
Norton Health Care................Louisville,KY.Dec..Mar11..Dec08
McLeod Health......................Florence,SC....Sep..Mar11..Sep09
Valley Health System.............Wnchestr,VA.Dec..Mar11..Dec08
Kettering Health Network.......Dayton,OH.....Dec..Mar11..Dec08
RobrtWJohnson Univ Hosp.NewBrnswck,NJ.Dec..Mar11..Dec08
Lee Memorial Health System..Ft Myers,FL....Sep..Mar11..Sep09
Abington Health.....................Philly.............Jun..Mar11..Jun09
Huntington Memrl Hosp........Pasadena,CA....Dec..Mar11..Dec08
Sarasota Co Public Hosp..........Sarasota,FL....Sep..Mar11..Sep09
Wake Forest Univ Hlth Sci......Winston-Salem.Jun..Mar11..Jun09
Rady Children's Hospital........San Diego,CA...Jun..Mar11..Jun09
All Children's Hospital...........Tampa,FL........Sep..Mar11..Sep09
Sparrow Health System..........Lansing,MI.....Dec..Mar11..Dec08
Ochsner Health System..........New Orleans....Dec..Mar11..Dec08
Health First...........................Rockledge,FL...Sep..Mar11..Jun09
Virginia Hospital Center........Arlington,VA...Dec..Mar11..Dec08
Montefiore Medical Ctr..........Bronx,NY.......Dec..Mar11..Dec08
First Health Carolinas............Pinehurst,NC...Sep..Mar11..Sep09
Univ of Kansas Hospital.........KC,KS.............Jun..Mar11..Jun09
Children's Health Care...........Minneapolis....Dec..Mar11..Dec08
MidMichigan Health..............Midland,MI....Jun..Mar11..Jun09
Spartanburg Reg HC Syst.......Sprtnburg,SC..Sep..Mar11..Sep09
Guthrie Health......................No PA&So NY..Jun..Mar11..Jun09
ProHealth Care.....................Milwaukee.......Sep..Mar11..Sep09
Lma Lnda Univ Med Ctr........Loma Linda,CA.Dec..Mar11..Dec08
Baystate Medical Center........Sprngfield,MA..Sep..Mar11..Sep09
Hackensck Univ Med Ctr.......Hackensack,NJ.Dec..Mar11..Dec08
And below here are these 120 Non-Profit Hospital Organizations’ Net Asset amounts, and their increases over roughly the most recent two years.
..............................................Net Assets..Net Assets
....................................................Most........Two
...................................................Recent......Years.....Increase..
...Hospital Organization................Date.......Earlier..Amount...%
.....................................................(millions of dollars)...
Kaiser Permanente.....................13,912.....11,431....2,481....22%
Sutter Health...............................6,619......4,298.....2,321....54%
Partners Healthcare System........6,047......4,975....1,072....22%
Mayo Clinic.................................5,081......2,326....2,755...118%
Adventist Health System.............4,861......3,407....1,454....43%
Cleveland Clinic Health System....4,488......2,715....1,773....65%
BJC Healthcare............................4,175......2,705....1,470....54%
Memor Sloan-Kttring Cancer Ctr..4,003......3,224......779....24%
UPMC..........................................3,844......2,756....1,088....39%
Advocate HealthCare Network.....3,610......1,842....1,768....96%
Methodist Hospital System...........3,419......2,375....1,044....44%
NY and Presbyterian Hospital......3,227......2,333......894....38%
Banner Health..............................3,097......1,669....1,428....86%
Inova Health System....................2,973......1,885....1,088....58%
Baylor Health Care System............2,860......2,166......694....32%
Carolinas Health Care System.......2,745......2,087......658....32%
Texas Health Resources................2,696......1,921......775....40%
Indiana University Health.............2,633......1,434....1,199....84%
Texas Children's Hospital...............2,447......2,088......359....17%
Johns Hopkins Health System........2,400.....1,273....1,127....89%
Baycare Health System..................2,375......1,523......852....56%
Children's Hospital Philadelphia.....2,344......1,938......406....21%
Sentara Health Care.......................2,315......1,489......826....55%
Northwestern Memrl Hlth Care......2,259......1,642......617....38%
Children's Healthcare Atlanta.........2,257......1,482......775....52%
Jefferson Health System.................2,178......1,860......318....17%
Baptist Health South Florida...........2,089......1,571......518....33%
Novant Health................................2,006.....1,557......449....29%
Duke Univ Health System...............1,999......1,392......607....44%
Memorial Hermann Hlthcre Sys.....1,831......1,509......322....21%
Scripps Health................................1,817......1,354......463....34%
OhioHealth.....................................1,743......1,259......484....38%
North Shore Univ Health Sys..........1,690......1,443......247....17%
Iowa Health System........................1,629......1,067......562....53%
Univ Penn Health System................1,604......1,163......441....38%
Sanford...........................................1,574......1,242......332....27%
ProMedica Health Care....................1,561......1,042......519....50%
Spectrum Health System.................1,457......1,128......329....29%
Henry Ford Health System..............1,421......1,053......368....35%
Seattle Children's Healthcare...........1,379......1,195......184....15%
Allina Health System......................1,370........804......566....70%
Premier Health Partners.................1,368......1,111......257....23%
LifeSpan.........................................1,356......1,225......131....11%
University Hospitals Health Sys......1,342......1,078......264....24%
Rush Univ Medical Center..............1,313......1,073......240....22%
Presbyterian Health Care Svcs........1,297........706......591....84%
Adventist Health West....................1,283........969......314....32%
Children's Medical Center Dallas.....1,225........821......404....49%
NoShore Long Island Jewish Hlth....1,223........614......609....99%
South Broward Hospital..................1,218......1,011......207....20%
Children's Memorial Medical Ctr......1,209......1,051......158....15%
Univ Maryland Medical Sys.............1,176........904......272....30%
Christiana Care Health Services.......1,154........881......273....31%
CareGroup Health Care System.......1,142........978......164....17%
St Luke's Episcopal Health Sys........1,138........692......446....64%
Stanford Hospital & Clinics.............1,131........807......324....40%
Cook Children's Health...................1,123........840......283....34%
University Chicago Medical Ctr......1,112........823......289....35%
Sharp Health Care..........................1,083........806......277....34%
Medical College of Wisconsin..........1,076........808......268....33%
Dallas County Parkland Hosp.........1,074........854......220....26%
Cone Health...................................1,063........894......169....19%
Froedtert & Community Health......1,050........824......226....27%
Orlando Health..............................1,049........875......174....20%
Baylor College of Medicine.............1,025........965.......60.....6%
Children's Hospital LA....................1,019........758......261....34%
Alegent Health.................................970........835......135....16%
Aurora Health Care..........................952........546......406....74%
MedStar Health................................944........647......297....46%
Mount Sinai School Medicine............937........765......172....22%
North Carolina Baptist Hosp.............916........715......201....28%
Central Georgia Health Sys...............902........789......113....14%
Legacy Health System......................895........618......277....45%
West VA United Hlth Sys..................883........608......275....45%
Scott & White Healthcare..................879........686......193....28%
Queens Health Systems.....................859........548......311....57%
Virtua Health...................................857........566......291....51%
Reading Hospital..............................849........730......119....16%
Parkview Health System...................846........543......303....56%
Integris Health.................................844........774.......70......9%
Mount Sinai Hospital........................842........477......365....77%
Greenville Hospital System...............830........802........28......3%
Lehigh Valley Health Network...........825........590......235....40%
McLaren Health Care........................825........682......143....21%
Children's Health Care WI..................821........460......361....78%
Community Health Network..............778........482......296....61%
Methodist Health System...................778........627......151....24%
Piedmont Health Care.......................775........608......167....27%
Palmetto Health................................762........593......169....28%
University of Colorado Hosp.............746........471......275....58%
St. George Corporation......................710........491......219....45%
Essentia Health.................................706........519......187....36%
Shands Teaching Hosps&Clinics.........704........569......135....24%
Norton Health Care...........................698........399......299....75%
McLeod Health.................................689........533......156....29%
Valley Health System........................660........434......226....52%
Kettering Health Network.................656........340......316....93%
Robert W Johnson Univ Hosp...........649........457......192....42%
Lee Memorial Health System............643........576.......67....12%
Abington Health...............................637........518......119....23%
Huntington Memorl Hosp.................628........446......182....41%
Sarasota County Public Hosp............623........542.......81....15%
Wake Forest Univ Health Sci.............604........510.......94....18%
Rady Children's Hospital...................594........387......207....53%
All Children's Hospital......................578........516.......62....12%
Sparrow Health System.....................571........318......253....80%
Ochsner Health System.....................550........321......229....71%
Health First......................................549........481.......68....14%
Virginia Hospital Center...................548........351......197....56%
Montefiore Medical Center...............545........320......225....70%
First Health Carolinas......................540........458.......82....18%
Univ of Kansas Hospital...................535........422......113....27%
Children's Health Care.....................529........370......159....43%
MidMichigan Health........................525........414......111....27%
Spartanburg Regional HC Sys..........521........487.......34.....7%
Guthrie Health................................517........375......142....38%
ProHealth Care................................516........423.......93....22%
Loma Linda Univ Medical Ctr..........516........415......101....24%
Baystate Medical Center..................501........361......140....39%
Hackensack Univ Medical Ctr..........500........297......203....68%
Total 120 Big Non-Profit
.....Hospital Organizations.........191,541..138,203..53,338...39%
Yeah, that's right, all 120 Non-Profit Hospital Organizations registered increases in their Net Assets in the past two years. And all of these increases were very healthy, and many of them, were just spectacular.
Here are the additional 14 Non-Profit Hospital Organizations I found, with Net Assets above $500 mil each, which haven’t disclosed a recent 1Q 2011 Net Asset amount:
...............................................................................Balance Sheet
..............................................................................Most..One Year
.....Hospital Organization..............HQs...........FYE...Recent..Earlier
St. Jude Children's Res Hosp....Memphis..........Jun..Jun10..Jun09
Cedars-Sinai Medical Ctr.........Los Angeles......Jun..Jun10..Jun09
Oregon Health&Science Univ..Portland,OR......Jun..Jun10..Jun09
Baptist Memorl Hlth Care........Memphis...........Sep..Sep10..Sep09
Univ Mich Hosps&Health Ctrs.Ann Arbor,MI...Jun..Jun10..Jun09
Univ No Carolina Hlthcre Sys..Chapel Hill........Jun..Jun10..Jun09
UCLA Medical Center..............Los Angeles......Jun..Jun10..Jun-09
Hoag Memorl Hosp Presbyter.Newport Beach..Sep..Sep10..Sep09
NYU Langone Medical Ctr.......New York.........Aug..Aug10..Aug09
Univ Iowa Hosp & Clinics........Iowa City,IA......Jun..Jun10..Jun09
Univ California San Fran.........San Fran............Jun..Jun10..Jun09
Baptist Health System.............Jacksonville......Sep..Sep10..Sep09
North Mississippi Hlth Svcs....Tupelo,MS.........Sep..Sep10..Sep09
Yale-New Haven Hospital.......New Haven,CT...Sep..Sep10..Sep09
And below here are these 14 Non-Profit Hospital Organizations’ Net Asset amounts, and their one-year increase in their Net Assets amount:
................................................Net Assets..Net Assets
.....................................................Most........One
....................................................Recent......Year...Increase.....
.....................................................Date......Earlier...Amount....%
.......................................................(millions of dollars)...
St. Jude Children's Res Hosp..........2,123......1,907.......216.....11%
Cedars-Sinai Medical Center..........1,697......1,517.......180.....12%
Oregon Health & Science Univ........1,696......1,565.......131......8%
Baptist Memorial Health Care........1,659......1,501.......158.....11%
Univ Mich Hospitals&Health Ctrs...1,602......1,537........65.......4%
Univ North Carolina Hlthcr Syst....1,489......1,327.......162.....12%
UCLA Medical Center....................1,483......1,350.......133.....10%
Hoag Memorl Hosp Presbyterian...1,465......1,375........90......7%
NYU Langone Medical Center........1,290......1,277........13......1%
University Iowa Hosp&Clinics.......1,021.........969........52......5%
Univ California San Fran...................932.........761.......171.....22%
Baptist Health System.......................814.........687.......127.....18%
North Mississippi Hlth Svcs..............694.........668........26......4%
Yale-New Haven Hospital.................642.........588........54......9%
Total 14 Big Non-Profit
.....Hospital Organizations..........18,607.....17,029.....1,578.....9%
In my next three posts, I’ll be analyzing the Operating Results of Hospital Organizations.
The first of these will be the key, highly relevant parts of a post regarding Hospital Profits I made several years ago, when the Health Care legislation was being debated.
The second of these will focus on updated Operating Results of the Catholic Hospital Organizations in the most recent three years.
And the third of these will be an update on Operating Results of the non-Catholic, Non-Profit Hospital Organizations in the most recent three years.
But the question that I think has to be answered....In all fairness, just like Health Insurance Corps should, shouldn't all Hospital Organizations also be reducing their stiff prices in order to both patriotically and compassionately help reduce total US health care costs, to help suffering US individual hospital patients, to ease the health care burdens on US businesses, and to soften both the crushing US Federal Deficit and the many State Government severely-stressed Budgets?
