West Virginia Non-Profit Hospitals Net Assets Up 79% Under Obama and the Affordable Care Act

From a review of the Electronic Municipal Market Access (EMMA), I found two Non-Profit Hospital Organizations headquartered in the State of West Virginia with Net Assets at the most recent date reported of more than $400 mil each.  Below here are the Net Assets of these two 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
West Virginia United Health System	Fairmont	WV	Jun 13	1,002		Dec 08	608	65%
CAMC Health System	Charleston	WV	Jun 13	462		Dec 08	211	119%
Total of both				1,464			819	79%

As you can see from the above chart, the Total Net Assets of these 2 West Virginia Non-Profit Hospital Organizations increased by an exceptional 79% to $1.464 bil during the Obama Administration.  West Virginia citizens should feel very proud of these two fine West Virginia Health Care Systems.

For the most recent 4.5 years, Fairmont-based Wes Virginia United Health System generated Total Bottom Line Profits of $280 mil, which was a very reasonable 5.4% 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.