Ohio Non-Profit Hospitals Net Assets Up 65% Under Obama and the Affordable Care Act

From a review of the Electronic Municipal Market Access (EMMA), I found 14 Non-Profit Hospital Organizations headquartered in the State of Ohio with Net Assets at the most recent date reported of more than $400 mil each.  Below here are the Net Assets of these 14 at both the most recent reported date and also at the beginning of the Obama Administration:

						2008	2008	Obama
				Most		or	or	ACA
			Most	Recent		2009	2009	and
			Recent	Balance		FYE	Balance	US Fed
			Balance	Sheet		Balance	Sheet	Bump
	City	State	Sheet	Net		Sheet	Net	%
Hospital Organization	HQs	HQs	Date	Assets		Date	Assets	Change
				mil $s			mil $s
Cleveland Clinic Health System	Cleveland	OH	Jun 13	5,392		Dec 08	2,715	99%
Catholic Health Partners	Cincinnati	OH	Jun 13	2,636		Dec 08	1,614	63%
OhioHealth	Columbus	OH	Mar 13	2,547		Jun 09	1,259	102%
Nationwide Children's Hospital	Columbus	OH	Jun 13	1,572		Dec 08	761	107%
ProMedica Health Care	Toledo	OH	Jun 13	1,485		Dec 08	1,042	43%
Children's Hospital Cincinnati	Cincinnati	OH	Jun 12	1,476		Jun 09	1,140	29%
University Hospitals Health System	Cleveland	OH	Jun 13	1,454		Dec 08	1,078	35%
Premier Health Partners	Dayton	OH	Dec12	1,409		Dec 08	1,111	27%
MedAmerica Health Systems	Dayton	OH	Jun 13	756		Dec 08	585	29%
Kettering Health Network	Dayton	OH	Jun 13	699		Dec 08	340	106%
Summa Health System	Akron	OH	Jun 13	618		Dec 08	407	52%
UC Health (Cincinnati)	Cincinnati	OH	Mar 13	529		Jun 09	415	27%
Children's Hospital Med Center Akron	Akron	OH	Jun 13	435		Dec 08	247	76%
Christ Hospital Health Network	Cincinnati	OH	Jun 13	430		Jun 10	289	49%
Total all 14				21,438			13,003	65%

As you can see from the above chart, the Total Net Assets of these 14 Ohio Non-Profit Hospital Organizations increased by a very robust 65% to $21.438 bil during the Obama Administration.

In the most recent 4.5 years, Cleveland Clinic generated Total Non-Operating Investment Income of $1.360 mil, which comprised a huge 54% of its Total Bottom Line Profits (Excess of Revenues over Expenses) of $2.523 bil.

This Cleveland Clinic's Total Bottom Line Profit of $2.523 bil was an extremely high 11.3% of its Total Revenues over the same time span.  This 11.3% Profit Margin exceeds that generated by more than half of the 30 Dow Industrials companies.  The Combined Bottom Line Profit Margin of the 30 prestigious Dow Industrial companies was a much lower 9.6% in the most recent year.  Does it make any sense for a Non-Profit Organization to be doing so much better on the profit front than the very best Corporations in the private sector?  Absolutely not.

In the most recent 3.75 years, Columbus-based OhioHealth generated Total Bottom Line Profits exclusive of economic gains from business acquisitions of $1.306 bil, which was an off-the-charts 15.2% of its Total Revenues over the same time span.  This 15.2% Profit Margin exceeds that of more than two-thirds of the pristine 30 Dow Industrials.  This is just one illustration of why US health costs are so much out of control.  And all Republicans in the US Congress want to bend back the Total US Health Care Cost Curve by substantially reducing the Medicare Benefits that the middle and lower classes receive.  Give me a break!  Get the excessive profits out of the Non-Profit Hospital Organizations.

But it's not just OhioHealth and Cleveland Clinic generating these incredibly excessive profits.

Toledo-based ProMedica Health Care generated Total Bottom Line Profits of $832 mil for the most recent 4.5 years combined, which was an exceptionally high 14.4% of its Total Revenues over the same time period.

We have all of these so-called Deficit Hawks in the US Congress and they see nothing wrong with shutting down the US Government and also imposing these massive across-the-board sequester cost cuts, both for the sake of Deficit Reduction, and at the same time they also see nothing wrong with so many US Non-Profit Hospital Organization generating Bottom Line Profit Margins far in excess of the country's very best companies in the private sector.  It clearly tells you why the US Congress as a whole now has an approval rating of only 5%.  And they care more about the Hospitals in their States than they do the people in their States.

Columbus-based Nationwide Children's Hospital generated Total Bottom Line Profits of $758 mil, which was an extremely high 12.9% of its Total Revenues over the same time period.

In the most recent 4.5 years, Cincinnati-based Catholic Health Partners generated Total Bottom Line Profits of $977 mil, which was 6.0% of its Total Revenues over the same time span.

And lastly, for the most recent 4.5 years,  Cleveland-based University Hospitals Health System generated Total Bottom Line Profits of $410 mil, which was a reasonable 4.4% 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.