On a Bottom Line Profits basis, here is a summary of the most recent audited annual earnings results of these 19 South Carolina Non-Profit Hospital Organizations by Net Asset size:
Net Assets > $600 Mil.......Total Bottom Line Income as % of Total Revenues..8.1%
Net Assets $100-600 Mil...Total Bottom Line Income as % of Total Revenues..7.0%
Net Assets < $100 Mil.......Total Bottom Line Loss as % of Total Revenues......(1.8)%
In this post, I reviewed the South Carolina Dept of Health and Human Services website and discovered relevant information regarding its 60 individual Hospitals. The most recent year this information was presented was for 2011.
The 20 Hospitals with the most number of hospital beds generated Total Profits of a very robust $537.3 mil in 2011, the middle 20 generated Total Profits of a much lower $73.3 mil, and the bottom 20 in number of hospital beds generated a substantially lower Total Profits of $25.5 mil in 2011.
And even more to the point, there were 14 individual South Carolina Hospitals with fewer than 50 beds. These would probably all be small rural South Carolina Hospitals. These 14 small rural South Carolina individual Hospitals posted Total Losses of $10.7 mil in 2011. The main driver of these huge losses here were the high percentage of uninsured and underinsured residents in these small rural South Carolina communities, with the resultant abnormally high levels of both Total Bad Debt Earnings Charges and Uncompensated Charity Care Earnings Charges relative to Net Patient Revenues.
The best way to provide the needed financial boost to these small rural South Carolina Hospitals is to simply Expand Medicaid in South Carolina. This will substantially reduce two Hospital Operating Statement Earnings Charges.....Provisions for Bad Debts and Uncompensated Charity Care Costs.
The larger South Carolina Hospitals are doing just fine.....but clearly not the smallest ones.
From the South Carolina Dept of Health and Human Services website, below here are the number of beds and Profits or Losses of each of these 60 South Carolina individual Hospitals in 2011, sorted by number of beds:
| 2011 | ||
| Number | 2011 | |
| Of | Profit | |
| South Carolina Hospital | Beds | (Loss) |
| $000s | ||
| Greenville | 824 | 14,374 |
| MUSC | 712 | 23,794 |
| Palmetto Richland | 664 | 16,688 |
| McLeod | 565 | 34,779 |
| Spartanburg | 455 | 31,443 |
| CHS Florence | 407 | 19,002 |
| Trident | 390 | 70,598 |
| Palmetto Baptist | 386 | 1,446 |
| AnMed | 379 | (45,680) |
| Roper | 368 | 56,177 |
| Lexington | 357 | 53,525 |
| Self | 350 | 55,757 |
| St. Francis Hospital | 338 | 65,730 |
| Sisters of Charity (Providence) | 314 | (1,694) |
| Piedmont | 288 | 15,266 |
| The Regional Medical Center | 286 | 4,102 |
| Aiken | 230 | 17,250 |
| Tuomey | 229 | 9,573 |
| Grand Strand | 219 | 55,734 |
| St. Francis Xavier | 204 | 39,430 |
| Beaufort | 195 | 8,931 |
| Springs | 186 | (1,359) |
| Mary Black | 183 | 9,908 |
| Conway | 168 | 13,769 |
| Waccamaw | 167 | 10,651 |
| East Cooper | 140 | 9,052 |
| Colleton | 131 | (742) |
| Georgetown | 131 | 8,032 |
| Oconee | 127 | 1,804 |
| Upstate Carolina | 125 | (8,165) |
| Kershaw | 119 | 3,341 |
| Loris | 118 | (12,014) |
| Carolina Pines | 116 | 11,179 |
| Wallace Thomson | 107 | 805 |
| Marlboro Park | 102 | (4,784) |
| Marion | 94 | (1,048) |
| Hilton Head | 93 | 27,531 |
| Newberry | 90 | 528 |
| Baptist Easley | 89 | 7,782 |
| Roper Mt. Pleasant | 84 | (11,935) |
| Chester | 82 | 530 |
| Patewood | 78 | 23,246 |
| Laurens | 76 | (4,276) |
| McLeod Dillon | 63 | 2,848 |
| Chesterfield | 59 | 2,074 |
| Greer | 58 | 11,754 |
| Clarendon | 49 | (2,064) |
| Village | 48 | (1,519) |
| North Greenville | 45 | (7,940) |
| Hillcrest | 44 | 1,884 |
| Canon | 42 | (180) |
| Coastal Carolina | 41 | (853) |
| Hampton | 32 | 1,080 |
| Barnwell | 30 | (910) |
| Lake City | 28 | 659 |
| Abbeville | 25 | 447 |
| Allendale | 25 | (508) |
| Edgefield | 25 | 192 |
| Fairfield | 25 | (1,279) |
| Williamsburg | 25 | 265 |
| Total | 11,430 | 636,010 |
