South Carolina Non-Profit Hospitals Net Assets Up 35% Under Obama and the Affordable Care Act

From a review of the Electronic Municipal Market Access (EMMA), I found 6 Non-Profit Hospital Organizations headquartered in the State of South Carolina with Net Assets at the most recent date reported of more than $400 mil each.  Below here are the Net Assets of these 6 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
Greenville Hospital System	Greenville	SC	Jun 13	968		Sep 09	802	21%
McLeod Health	Florence	SC	Jun 13	864		Sep 09	533	62%
Palmetto Health	Columbia	SC	Jun 13	807		Sep 09	593	36%
Lexington County Hlth Svcs District	West Columbia	SC	Sep 12	607		Sep 09	454	34%
Spartanburg Regional Healthcare System	Spartanburg	SC	Jun 13	551		Sep 09	487	13%
Self Regional Healthcare	Greenwood	SC	Jun 13	498		Sep 09	305	63%
Total all 6				4,295			3,174	35%

As you can see from the above chart, the Total Net Assets of these 6 South Carolina Non-Profit Hospital Organizations increased by 35% to $4.295 bil during the Obama Administration.

For the most recent 3.75 years, McLeod Health generated Total Bottom Line Profits of $310 mil, which was a very high 12.5% of its Total Revenues over the same time period.  This 12.5% Bottom Line Profit Margin exceeds that of all 30 Dow Industrial companies combined of 9.6% in the most recent year.  Is this right?  Not even close to being right.

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.