| Most | ||||||
| Most | Recent | Prior | ||||
| Recent | Year | Year | ||||
| Annual | Bottom | Bottom | ||||
| Fiscal | Line | Line | Increase | Increase | ||
| City | Year | Net | Net | (Decrease) | (Decrease) | |
| HQs | End | Income | Income | Amount | % | |
| mils $s | mils $s | mils $s | ||||
| Massachusetts Non-Profit Hospital Organizations | ||||||
| Partners HealthCare | Boston | Sep 2012 | 352 | 264 | 88 | 33% |
| Children's Med Ctr & Hospital | Boston | Sep 2012 | 101 | 89 | 12 | 13% |
| CareGroup HealthCare | Boston | Sep 2012 | 95 | 70 | 25 | 36% |
| Baystate Health | Springfield | Sep 2012 | 93 | 21 | 72 | 343% |
| Lahey Clinic Medical Center | Burlington | Sep 2012 | 55 | 60 | (5) | -8% |
| UMass Memorial HealthCare | Worchester | Sep 2012 | 53 | 30 | 23 | 77% |
| Cape Cod Healthcare | Hyannis | Sep 2012 | 53 | 40 | 13 | 33% |
| SouthCoast Health | New Medford | Sep 2012 | 35 | 32 | 3 | 9% |
| Covenant Health | Lexington | Dec 2012 | 30 | 25 | 5 | 20% |
| Dana-Farber Cancer | Boston | Sep 2012 | 23 | (8) | 31 | 388% |
| Boston Med Ctr & Affiliates | Boston | Sep 2012 | (7) | 77 | (84) | -109% |
| Total all 11 | 883 | 700 | 183 | 26% | ||
So that's very nice 26% Total Earnings Growth for annual fiscal year 2012 over 2011.
What about more recently?
Well, of the 11 Massachusetts Hospital Organizations, 10 of them have the same September fiscal year ends. So below here are the Bottom Line Profits in the most recently reported 9 Months ended June 30th interim periods of both of the most recent two years for each of these 10 Massachusetts Non-Profit Hospital Organizations:
| 9 Mos | 9 Mos | |||||
| Jun | Jun | |||||
| 2013 | 2012 | |||||
| Bottom | Bottom | |||||
| Line | Line | Increase | Increase | |||
| City | Net | Net | (Decrease) | (Decrease) | ||
| HQs | Income | Income | Amount | % | ||
| mils $s | mils $s | mils $s | ||||
| Massachusetts Non-Profit Hospital Organizations | ||||||
| Partners HealthCare | Boston | 287 | 319 | (32) | -10% | |
| Children's Med Ctr & Hospital | Boston | 242 | 72 | 170 | 236% | |
| CareGroup HealthCare | Boston | 108 | 62 | 46 | 74% | |
| Dana-Farber Cancer Parent Only | Boston | 44 | 18 | 26 | 144% | |
| Boston Med Ctr & Affiliates | Boston | 15 | 2 | 13 | 650% | |
| UMass Memorial HealthCare | Worchester | 49 | 11 | 38 | 345% | |
| SouthCoast Health | New Medford | 12 | 19 | (7) | -37% | |
| Lahey Clinic Medical Center | Burlington | 35 | 52 | (17) | -33% | |
| Baystate Medical Center | Springfield | 68 | 71 | (3) | -4% | |
| Cape Cod Healthcare | Hyannis | 22 | 53 | (31) | -58% | |
| Total all 10 | 882 | 679 | 203 | 30% | ||
Ahh, so very similar 30% Total Earnings Growth for the 9 Months Ended June 30, 2013.
I like this very nice Goldilocks Total Earnings Growth consistency in the most recent 1 and 3/4ths years. Even though the stock market has done wonders in adding to these Massachusetts Non-Profit Hospital Organizations' Bottom Line Profits, it appears that they have for the most part unselfishly shared some of this massive economic largesse with their hospital patients.
And this salient point is shown below. Here are the Bottom Line Profits, Total Operating Revenues and the related Profit Margin Percentages in the most recent audited fiscal year reported for each of these 11 Massachusetts Non-Profit Hospital Organizations:
| Bottom | |||||
| Line | Total | Profit | |||
| City | Net | Operating | Margin | ||
| HQs | Income | Revenues | % | ||
| mils $s | mils $s | ||||
| Massachusetts Non-Profit Hospital Organizations | |||||
| Partners HealthCare | Boston | 352 | 8,981 | 3.9% | |
| Children's Med Ctr & Subsidiaries | Boston | 229 | 1,769 | 12.9% | |
| CareGroup HealthCare | Boston | 95 | 2,449 | 3.9% | |
| Baystate Health | Springfield | 93 | 1,631 | 5.7% | |
| Lahey Clinic Medical Center | Burlington | 55 | 1,036 | 5.3% | |
| UMass Memorial HealthCare | Worchester | 53 | 2,224 | 2.4% | |
| Cape Cod Healthcare | Hyannis | 53 | 680 | 7.8% | |
| SouthCoast Health | New Medford | 35 | 790 | 4.4% | |
| Covenant Health | Lexington | 30 | 581 | 5.2% | |
| Dana-Farber Cancer | Boston | 23 | 993 | 2.3% | |
| Boston Med Ctr & Affiliates | Boston | (7) | 2,245 | -0.3% | |
| Total all 11 | 1,011 | 23,379 | 4.3% | ||
Yeah, that's a Total Profit Margin as a % of Total Operating Revenues of 4.3% in the 2012 annual fiscal year. And with the nice earnings growth in the most recent 9 months, the Total Profit Margin was 5.4% in the 9 months ended June 30, 2013.
This is precisely where the country should be under Obamacare.....Profit Margin % in the 4.3% to 5.4% range. Instead, all throughout the country, there are so many Non-Profit Hospital Systems with very high single-digit and even many double-digit Total Profit Margin Percentages. These Hospital Organizations are doing nothing to bend back the Total US Health Care Cost Curve. Instead of sharing their stock market and lower interest rate economic largesse with their hospital patients, they instead are selfishly padding their Bottom Line Profits and adding to their already massive treasure chest Investment Portfolio in Equity and Debt Instruments.
Granted in large part to the benefits of Obamacare, Total US Health Care Costs' annual increases have substantially moderated since 2010, but to take it to a completely different level and substantially reduce Total US Health Care Costs and also the US Debt load even more, the rest of the country's hospitals should follow the lead of the Massachusetts' Non-Profit Hospitals. With Romneycare and now Obamacare, they have had a longer time to get it right. They have made great strides in both more efficient and more effective health care delivery. And they also haven't been selfish in generating excess profits. They understand that they are Non-Profit Organizations, unlike so many other very greedy "Non-Profit" Hospital Organizations all throughout the country.
And yeah, the US Congress has done absolutely nothing to change this horrible situation. Instead, by their actions, they have encouraged and fostered it. Nearly all of them do whatever the much too strong Hospital Lobby requests, even though it severely harms economically both the hospital patient and the US Government Debt load.
And the worst offenders of all in this regard? Clearly all of the Medical Doctors in the US Congress. They claim they are strident US Deficit Hawks. But in reality, they are beholden to the Hospital Lobby. And they need to all be replaced by candidates who can understand a financial statement.
