Friday, December 13, 2013

South Carolina 14 Smallest Hospitals With Less Than 50 Beds Post Total Losses of $10.7 Mil

In an earlier recent post South Carolina Smaller Non-Profit Hospital Bottom Line Losses Show Need For Medicaid Expansion , I found 19 Non-Profit Hospital Organizations headquartered in the State of South Carolina with Total Operating Revenues of more than $10 mil each in the most recent fiscal year.

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