|mil $s||mil $s|
|Indiana University Health||Indianapolis||IN||Jun 13||3,763||Dec 08||1,434||162%|
|St Vincent Health||Indianapolis||IN||Jun 13||3,040||Jun 09||1,561||95%|
|Franciscan Alliance||Mishawaka||IN||Jun 13||2,068||Dec 08||1,463||41%|
|Parkview Health System||Fort Wayne||IN||Jun 13||934||Dec 08||543||72%|
|Beacon Health System||South Bend||IN||Jun 13||931||Dec 08||341||173%|
|Community Health Network||Indianapolis||IN||Jun 13||869||Dec 08||482||80%|
|Marion County Hospital Corp||Indianapolis||IN||Dec 12||586||Dec 08||446||31%|
|Deaconess Health System||Evansville||IN||Jun 13||493||Sep 09||365||35%|
|St Mary's Health||Evansville||IN||Jun 12||448||Jun 09||292||53%|
|Community Healthcare System||Munster||IN||Jun 13||428||Jun 09||289||48%|
|Total all 10||13,560||7,216||88%|
As you can see from the above chart, the Total Net Assets (Excess of Total Assets over Total Liabilities) of these 10 Indiana Non-Profit Hospital Organizations increased by an exceptional 88% to $13.560 bil during the Obama Administration. Indiana citizens should be pleased with the superb fiscal performance of their largest Indiana Non-Profit Hospital Organizations.
Indianapolis-based IU Health generated a massive $1.435 bil of Bottom Line Profits in the most recent 3.5 years, which was a very healthy 8.6% of Total Revenues. For the most recent 1.5 years, this Bottom Line Profit Margin was an even higher 11.9% of Total Revenues, which was higher than half of that of the pristine 30 Dow Industrial companies. As a comparison, the Combined Bottom Line Profit Margin was a much lower 9.6% in the most recent year for the prestigious 30 Dow Industrial companies.
Indianapolis-based St. Vincent Health and Evansville-based St. Mary's Health System are both part of the huge Ascension Health Alliance. They don't file their separate financial statements with EMMA but they both do file their separate annual audited financial statements at the Indiana State Dept of Health Website. St Vincent has just recently filed its June 2013 financial statements but St Mary's Health hasn't yet.
In its Fiscal Year Ended (FYE) June 2009, St. Vincent Health recorded an Investment Loss of $206 mil due to the financial meltdown in late 2008. This $206 mil Investment Loss resulted in a Bottom Line Loss of $45 mil in FYE June 2009.
However, in the four fiscal years since then, St. Vincent Health generated Total Investment Income of $570 mil, which was a huge 45% of its Total Bottom Line Profit of $1.256 bil over the same four year period. And over this four year period ended June 30, 2013, St. Vincent Health generated a Profit Margin of an exceptional 13.2% of its Total Revenues. This 13.2% Profit Margin exceeds that of more than half of the 30 Dow Industrials over the same time span.
Similarly, St. Mary's Health recorded an Investment Loss of $60 mil due to the financial meltdown in late 2008. This $60 mil Investment Loss resulted in a Bottom Line Loss of $45 mil in FYE June 2009.
However, in the three fiscal years since then, St. Mary's Health generated Total Investment Income of $97 mil, which was a huge 50% of its Total Bottom Line Profit over the same three year period. And over this three year period ended June 30, 2012, St. Mary's Health generated a Profit Margin of an exceptional 13.7% of its Total Revenues, substantially exceeding the Combined Bottom Line Profit Margin of 9.6% for the prestigious 30 Dow Industrial companies.
In similar fashion, Mishawaka-based Franciscan Alliance recorded an Investment Loss of $440 mil in annual 2008 due to the financial meltdown in late 2008. This $440 mil Investment Loss resulted in a Bottom Line Loss of $314 mil in annual 2008.
However, in the 4.5 years since then, Franciscan Alliance generated Total Investment Income of $638 mil, which was a huge 69% of its Total Bottom Line Profit over the same three year period. And over this 4.5 year period, Franciscan Alliance generated a Bottom Line Profit Margin of a high 8.7% of Total Revenues.
Fort Wayne-based Parkview Health System generated Total Bottom Line Profits of $435 mil in the most recently reported 4.5 years ended June 30, 2013, which was a very high 10.6% of its Total Revenues over the same time period.
South Bend-based Beacon Health System generated Total Bottom Line Profits of $215 mil in the most recent 1.5 years ended June 30, 2013, which was an extremely high 16.7% of Total Revenues over the same time span.
Indianapolis-based Community Health Network generated Total Bottom Line Profits of $525 mil in the most recently reported 4.5 years ended June 30, 2013, which was a high 8.3% of its Total Revenues over the same time period.
Evansville-based Deaconess Health System's Total Bottom Line Profits of $143 mil in the most recently reported 3.75 years ended June 30, 2013 were 6.0% of its Total Revenues over the same time period.
Munster is not only the home of 3 Floyds Craft Beer Brewery but also the headquarters of Community Healthcare System. Its Total Bottom Line Profits of $203 mil in the most recently reported 4.5 years ended June 30, 2013 were 5.0% of its Total Revenues over the same time period.
Very positively impacting this major increase in the Net Assets (Financial Strength) of all of these hospitals were actions taken by both the Obama Administration and the US Fed to strengthen the US Financial Foundation which was severely damaged from the financial meltdown in late 2008.
In addition, the Affordable Care Act (ACA) has also played a key role in this increase in Net Assets (Financial Strength) of these Non-Profit Hospital Organizations.
A remarkable thing is that these robust increases in Net Assets of these Non-Profit Hospital Organizations occurred when these Non-Profit Hospitals were also able to substantially bend down the Total US Health Care Cost Curve in each of the most recent three years.
With future Non-Profit Hospital Organizations' Hospital Operating Income being bolstered by both many of the Uninsured getting insurance and by the many of the Underinsured getting much better insurance, both under the ACA, future Net Asset growth of these Non-Profit Hospital Organizations should be very robust. And for States electing to expand Medicaid, this future Net Asset growth will be exceptionally robust.
OK, so that's the story with Indiana's largest Non-Profit Hospital Organizations with Net Assets above $400 mil. And it's a great story financially.
What about the smaller hospitals?
That's the beauty about Indiana.....all of its hospitals are required to file annual audited financial statements at its State Dept of Health website. Indiana is way ahead of the curve in financial transparency in this regard.
There were 36 Indiana Hospital Organizations with Net Assets below $400 mil which filed their operating statements containing both their 2012 and 2011 financial information at the Indiana State Dept of Health website. The overwhelming majority of them are Non-Profit Hospital Organizations.
These 36 Indiana Hospital Organizations generated Total Bottom Line Profits (Excess of Revenues over Expenses) of $321.5 mil in 2012, an incredible 232% increase over the $96.9 mil earned in 2011. Total Revenues in 2012 of $4.439 bil were up a very sharp 21% over 2011. And the Total Bottom Line Profit as a percentage of Total Operating Revenues was 7.2% in 2012, spiking up sharply from the comparable Profit Margin of 2.6% in 2011.
Of the 36 Hospital Organizations, thirteen of them had Bottom Line Losses in 2011. This was reduced down to only four of them in 2012.....a remarkable reversal.
So clearly, it's not just the largest Indiana Hospitals but also the smaller ones that have performed exceptionally well in 2012 under the Affordable Care Act.
Below here are the Bottom Line Profits and Profit Margin Percentages for both fiscal year ended (FYE) 2012 and 2011 for each of these Indiana Hospital Organizations:
|City||Profit||Profit||% of||% of|
|$ 000's||$ 000's|
|Indiana Orthopaedic Hospital||Indianapolis||43,836||41,411||33.8%||34.9%|
|Hendricks Regional Health||Danville||28,772||13,415||10.3%||7.2%|
|Union Hospital||Terre Haute||28,419||(463)||6.6%||-0.1%|
|The Methodist Hospitals||Merrillville||28,216||19,256||8.5%||6.6%|
|Witham Health Services||Lebanon||25,857||6,888||9.8%||5.7%|
|Marion General Hospital||Marion||17,892||19,862||11.3%||13.8%|
|Jackson County Schneck Hosp||Seymour||16,833||11,624||13.1%||10.6%|
|Heart Hospital at Deaconess||Newburgh||13,303||8,301||25.8%||18.5%|
|Good Samaritan Hospital||Vincennes||12,651||8,439||6.6%||4.8%|
|Deaconess Women's Hospital||Newburgh||11,738||2,970||17.6%||5.9%|
|Floyd Memorial Hospital||New Albany||10,639||1,190||4.0%||0.5%|
|Columbus Regional Hospital||Columbus||10,482||6,046||4.5%||3.1%|
|Major Health Partners||Shelbyville||9,404||3,943||7.5%||4.1%|
|Hancock Regional Hospital||Greenfield||9,037||(119)||7.3%||-0.1%|
|Memorial Hospital Logansport||Logansport||8,241||1,457||11.5%||2.5%|
|Dearborn County Hospital||Lawrenceburg||7,471||(4,487)||5.6%||-5.5%|
|Johnson Memorial Hospital||Franklin||5,178||1,122||4.3%||1.5%|
|Henry County Hospital||New Castle||4,436||(423)||4.3%||-0.5%|
|Memorial Hospital Jasper||Jasper||3,848||16,540||2.3%||11.0%|
|Cameron Community Hospital||Angola||3,402||(136)||7.1%||-0.3%|
|DeKalb Memorial Hospital||Auburn||3,312||(1,124)||5.4%||-2.3%|
|Sullivan County Community Hosp||Sullivan||1,918||691||7.3%||2.6%|
|Rehabilitation Hospital Indiana||Indianapolis||1,627||877||4.3%||2.2%|
|Rush Memorial Hospital||Rushville||1,489||(156)||5.2%||-0.7%|
|Perry County Memorial Hospital||Tell City||1,308||527||3.7%||1.6%|
|Fayette Regional Health||Connersville||915||(1,656)||1.5%||-2.9%|
|Pulaski Memorial Hospital||Winamac||759||615||3.6%||3.2%|
|Jay County Hospital||Portland||665||1,260||1.9%||3.8%|
|So Indiana Rehabilitation Hosp||New Albany||642||(29)||3.5%||-0.2%|
|Physicians Medical Center||New Albany||336||686||3.0%||6.6%|
|Community Hospital Bremen||Bremen||(12)||336||-0.1%||2.4%|
|Howard Regional Health (1)||Kokomo||(88)||(8,410)||-0.1%||-5.6%|
|Scott Memorial Hospital||Scottsburg||(2,316)||(3,407)||-11.3%||-18.0%|
|Clark Memorial Hospital||Jeffersonville||(3,348)||(30,441)||-1.9%||-23.8%|
|Total all 36||321,540||96,931||7.2%||2.6%|
|Total % Increase 2012 over 2011||232%|
|(1) Howard Regional Health 2012 is for 6 Months and 2011 is for 12 months|
From a review of their audited financial statements filed at the Indiana State Dept of Health website, I found 33 Hospital Organizations headquartered in the State of Indiana with Net Assets below $400 mil each and which also reported their Net Assets amount in both 2012 and also at the beginning of the Obama Administration. These 33 had Total Net Assets of $3.039 bil in 2012, an increase of 25% over this 3.74 average year period of time. Below here are the Net Assets of these 33 at both the 2012 date and also at the beginning of the Obama Administration:
|$ 000's||$ 000's|
|Reid Hospital||Richmond||Dec||357,558||Dec 08||355,014||1%|
|Columbus Regional Hospital||Columbus||Dec||250,790||Dec 08||139,682||80%|
|Hendricks Regional Health||Danville||Dec||236,486||Dec 08||168,698||40%|
|The Methodist Hospitals||Merrillville||Dec||202,217||Dec 08||145,442||39%|
|Marion General Hospital||Marion||Jun||188,024||Jun 09||133,633||41%|
|Jackson County Schneck Hosp||Seymour||Dec||185,315||Dec 08||138,976||33%|
|Good Samaritan Hospital||Vincennes||Dec||182,998||Dec 08||142,094||29%|
|Union Hospital||Terre Haute||Aug||144,621||Aug 09||127,592||13%|
|Floyd Memorial Hospital||New Albany||Dec||138,363||Dec 08||96,779||43%|
|Memorial Hospital Jasper||Jasper||Jun||138,131||Jun 09||108,863||27%|
|Hancock Regional Hospital||Greenfield||Dec||107,335||Dec 08||75,893||41%|
|Major Health Partners||Shelbyville||Dec||97,341||Dec 08||70,106||39%|
|Dearborn County Hospital||Lawrenceburg||Dec||91,057||Dec 08||82,797||10%|
|Johnson Memorial Hospital||Franklin||Dec||90,597||Dec 08||80,891||12%|
|Witham Health Services||Lebanon||Dec||86,448||Dec 08||47,735||81%|
|Henry County Hospital||New Castle||Dec||70,734||Dec 08||62,127||14%|
|Howard Regional Health||Kokomo||Jun||56,896||Dec 08||66,126||-14%|
|Memorial Hospital Logansport||Logansport||Dec||51,979||Dec 08||42,677||22%|
|DeKalb Memorial Hospital||Auburn||Sep||50,433||Sep 09||45,585||11%|
|Clark Memorial Hospital||Jeffersonville||Dec||46,910||Dec 08||76,746||-39%|
|Jay County Hospital||Portland||Sep||41,120||Sep 09||37,810||9%|
|Perry County Memorial Hospital||Tell City||Dec||33,383||Dec 08||28,182||18%|
|Indiana Orthopaedic Hospital||Indianapolis||Dec||30,384||Dec 08||18,387||65%|
|Sullivan County Community Hosp||Sullivan||Dec||30,116||Dec 08||25,105||20%|
|Cameron Community Hospital||Angola||Sep||29,729||Sep 09||23,909||24%|
|Scott Memorial Hospital||Scottsburg||Dec||24,129||Dec 08||30,725||-21%|
|Woodlawn Hospital||Rochester||Dec||14,554||Dec 08||12,834||13%|
|Heart Hospital at Deaconess||Newburgh||Sep||13,932||Sep 09||10,970||27%|
|Rush Memorial Hospital||Rushville||Dec||12,599||Dec 08||11,121||13%|
|Pulaski Memorial Hospital||Winamac||Sep||11,349||Sep 09||10,386||9%|
|Deaconess Women's Hospital||Newburgh||Dec||10,090||Dec 08||6,766||49%|
|Physicians Medical Center||New Albany||Dec||8,375||Dec 08||(251)||NM|
|Rehabilitation Hospital Indiana||Indianapolis||Dec||4,603||Dec 08||1,838||150%|
|Total all 33||3,038,596||2,425,238||25%|