Washington State Non-Profit Hospitals Net Assets Up 74% Under Obama and the Affordable Care Act

From a review of the Electronic Municipal Market Access (EMMA), I found 5 Non-Profit Hospital Organizations headquartered in the State of Washington with Net Assets at the most recent date reported of more than $400 mil each.  Below here are the Net Assets of these 5 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
Providence Health	Renton	WA	Jun 13	6,757		Dec 08	3,911	73%
Seattle Children's Healthcare	Seattle	WA	Jun 13	1,759		Sep 09	1,195	47%
PeaceHealth	Vancouver	WA	Jun 13	1,617		Jun 09	897	80%
MultiCare Health System	Tacoma	WA	Jun 13	1,475		Dec 08	650	127%
Southwest Washington Medical Ctr	Vancouver	WA	Dec12	423		Dec 08	257	65%
Total all 5				12,031			6,910	74%

As you can see from the above chart, the Total Net Assets of these 5 Washington State Non-Profit Hospital Organizations increased by an exceptional 74% to $12.031 bil during the Obama Administration.

For the most recent 4.5 years, MultiCare System generated Total Bottom Line Profits of $766 mil, which was a very high 11.7% of its Total Revenues over the same time period.  This 11.7% Bottom Line Profit Margin is substantially above the 9.6% Combined Bottom Line Profit Margin of the 30 prestigious Dow Industrial companies.

For the most recent 3.75 years, Seattle Children's Healthcare generated Total Bottom Line Profits of a $482 mil, which was an extremely high 14.3% of its Total Revenues over the same time period.

But the Washington headquartered Catholic Non-Profit Hospital Organizations weren't nearly as greedy.

For the most recent 4.5 years, the massive Providence Health generated Total Bottom Line Profits exclusive of economic gains from business combinations of a huge $1.672 bil, which was a very reasonable 4.2% of its Total Revenues over the same time period.

And for the most recent four years, PeaceHealth generated Total Bottom Line Profits of $173 mil, which was only 2.2% 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.