These 39 Hospital Organizations had Total Net Assets of $125.4 bil at September 30, 2012, up $49.2 bil, or an increase of 65% from the total December 31, 2008 year-end amounts, which was 3 3/4 years earlier.
In this post, again from a review of EMMA, I found another 52 US Non-Profit Hospital Organizations with Net Assets of over $1 bil each and with FYEs other than December. Of these 52 Hospital Organizations, 31 of them had June FYEs and another 17 had Sept FYEs. Thus the average time period from their 2009 FYE to September 30, 2012 was just barely above 3 years.
These 52 Non-Profit Hospital Organizations had Total Net Assets of $122.7 bil, an increase of $36.5 bil, or up 42% from FYEs 2009, which was roughly 3 years earlier.
Granted 42% is lower than 65%, but the 42% growth is for 3 years, while the 65% is for 3 3/4 years.
So, when you combine these 91 Non-Profit Hospital Organizations, you get Total Net Assets of $248 bil. My hunch is that when you project that over the universe of all US Hospital Organizations, including Governmental and For-Profit ones, the Total Net Assets are north of $500 bil at September 30, 2012.
And for another hunch, these Total Net Assets of all US Hospital Organizations will be substantially north of $1 trillion at the end of President Obama's second term. The new Affordable Care Act will substantially expand further the Net Assets of Hospital Organizations, as will a continuing robust stock market.
It should be pointed out that Partners Healthcare System's Net Assets at September 30, 2012 was burdened by a $796 mil reduction, resulted primarily from a reduction in the discount rate it used to measure its defined benefit pension obligations from 5.30% at September 30, 2011 to 4.15% at FYE September 30, 2012.
When I review the footnotes of so many of these Non-Profit Hospital Organizations, it just amazes me at how incredibly low the interest rates are on their debt, particularly on their variable interest rate debt. US Fed Chairman Bernanke has done economic wonders not just for the Big Financial Corps, for the Big Utility Corps, and for all Big Corps Buying Back Their Own Common Stock, but also for the Non-Profit Hospital Organizations' earnings.
Now if he could only find ways to share these massive economic benefits to all US citizens, including small businesses. It doesn't seem that these Big Financial Corps, Big Utility Corps, and Non-Profit Hospital Organizations are willing to share this Fed largesse with their customers. And the Big Corps Buying Back Their Own Common Stock continue to shed rather than to hire new workers.
Below here are the Net Assets of these 52 Non-Profit Hospital Organizations at September 30, 2012 and at their FYEs roughly 3 years earlier in 2009:
|Net Assets||FYE||Net Assets||%|
|HQs||mil $s||Month||mil $s||Change|
|Catholic Health Initiatives||CO||7,524||Jun||5,505||37%|
|Partners Healthcare System||MA||5,283||Sep||4,975||6%|
|Children's Medical Center Boston||MA||3,865||Sep||2,516||54%|
|Baylor Health Care System||TX||3,058||Jun||2,166||41%|
|Johns Hopkins Health System||MD||2,999||Jun||1,273||136%|
|St. Joseph Health System||CA||2,955||Jun||2,076||42%|
|Texas Children's Hospital||TX||2,653||Sep||2,088||27%|
|Northwestern Memorial Health Care||IL||2,619||Aug||1,642||60%|
|Children's Hospital Philadelphia||PA||2,613||Jun||1,938||35%|
|Jefferson Health System||PA||2,446||Jun||1,860||32%|
|Baptist Health Health South Florida||FL||2,331||Sep||1,571||48%|
|Duke University Health System||NC||2,137||Jun||1,392||54%|
|Memorial Hermann Health Care System||TX||2,060||Jun||1,509||37%|
|Oregon Health & Science University||OR||1,983||Jun||1,570||26%|
|Hospital Sisters Health System||IL||1,979||Jun||1,697||17%|
|Baptist Memorial Health Care||TN||1,815||Sep||1,501||21%|
|Geisinger Health System||PA||1,815||Jun||901||101%|
|North Shore University Health Systems||IL||1,768||Sep||1,443||23%|
|Stanford Hospital & Clinics||CA||1,702||Aug||807||111%|
|University Penn Health System||PA||1,624||Jun||1,163||40%|
|Spectrum Health System||MI||1,616||Jun||1,128||43%|
|Seattle Children's Health Care||WA||1,605||Sep||1,195||34%|
|Rush University Medical Center||IL||1,554||Jun||1,073||45%|
|Sharp Health Care||CA||1,521||Sep||806||89%|
|Saint Francis Health System||OK||1,486||Jun||946||57%|
|Cook Children's Health||TX||1,442||Sep||840||72%|
|South Broward Hospital District||FL||1,415||Apr||1,011||40%|
|Christiana Care Health Services||DE||1,355||Jun||881||54%|
|Children's Memorial Medical Center||IL||1,345||Aug||1,051||28%|
|CareGroup Health Care System||MA||1,279||Sep||978||31%|
|University Maryland Medical System||MD||1,264||Jun||904||40%|
|Virginia Commonwealth Univ Health||VA||1,199||Jun||756||59%|
|University of Chicago Medical Center||IL||1,149||Jun||823||40%|
|Mission Health System||NC||1,144||Sep||882||30%|
|Medical College of Wisconsin||WI||1,134||Jun||808||40%|
|Via Christi Health||KS||1,086||Sep||846||28%|
|Alegent Creighton Health||NE||1,073||Jun||835||29%|
|Children's Hospital Los Angeles||CA||1,047||Jun||758||38%|
|Ministry Health Care||WI||1,034||Sep||674||53%|
|Total all 52||122,678||86,160||42%|