Tennessee Non-Profit Hospitals Net Assets Up 50% 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 Tennessee 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
St Jude Children's Research Hospital	Memphis	TN	Mar 13	2,979		Jun 09	1,907	56%
Baptist Memorial Health Care	Memphis	TN	Jun 13	1,839		Sep 09	1,501	23%
Methodist Le Bonheur Healthcare	Memphis	TN	Jun 13	969		Dec 08	451	115%
Covenant Health	Knoxville	TN	Jun 13	913		Dec 08	614	49%
Mountain States Health Alliance	Johnson City	TN	Jun 13	681		Jun 09	450	51%
Wellmont Health System	Kingsport	TN	Mar 13	514		Jun 09	325	58%
Total all 6				7,895			5,248	50%

As you can see from the above chart, the Total Net Assets of these 6 Tennessee Non-Profit Hospital Organizations increased by a robust 50% to $7.895 bil during the Obama Administration.

For the most recent 4.5 years, Methodist Le Bonheur Healthcare generated Total Bottom Line Profits of $489 mil, which was a high 8.3% of its Total Revenues over the same time period. 

Vanderbilt University Hospitals and Clinics did not report its Net Assets.  It did report its Bottom Line Profits for the two fiscal years ended June 30, 2011 and 2010, which totaled $218 mil and was 6.4% of its Total Revenues over those same two years. 

For the most recent 3.75 years, Memphis-based Baptist Memorial Health Care generated Total Bottom Line Profits of $263 mil, which was a reasonable 4.2% of its Total Revenues over the same time period.

For the most recent 4.5 years, Knoxville-based Covenant Hospitals generated Total Bottom Line Profits of $175 mil, which was a reasonable 3.8% 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.