|mil $s||mil $s|
|Children's HealthCare Atlanta||Atlanta||GA||Sep 13||2,883||Dec 08||1,482||95%|
|Wellstar Health System||Marietta||GA||Dec 13||1,319||Jun 09||715||84%|
|Piedmont Health Care||Atlanta||GA||Dec 13||1,099||Jun 09||608||81%|
|Central Georgia Health System||Macon||GA||Mar 14||1,089||Sep 09||789||38%|
|Emory Healthcare||Atlanta||GA||Aug 13||753||Aug 09||570||32%|
|Phoebe Putney Health System||Albany||GA||Jan 14||677||Jul 09||481||41%|
|Northeast Georgia Health System||Gainesville||GA||Dec 13||660||Sep 09||307||115%|
|Archbold Medical Center||Thomasville||GA||Dec 13||484||Sep 09||364||33%|
|University Health (Richmond County)||Augusta||GA||Dec 12||481||Dec 08||317||52%|
|Gwinnett Hospital System||Duluth||GA||Dec 13||473||Jun 09||327||45%|
|Hamilton Health Care System||Dalton||GA||Sep 13||421||Sep 09||289||46%|
|Total all 11||10,339||6,249||65%|
As you can see from the above chart, the Total Net Assets (Financial Strength) of these 11 Georgia Non-Profit Hospital Organizations increased by a very impressive 65% to $10.339 bil for their average 4.34 years so far during the Obama Administration.
The lowest percentage of Net Asset growth of the 11 Hospitals was a very respectable up 32%.
Very positively impacting this very robust increase in the Net Assets (Financial Strength) of these 11 Georgia Hospital Organizations 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 very impressive increase in Net Assets (Financial Strength) of these 11 Georgia Non-Profit Hospital Organizations.
A remarkable thing is that these very robust increases in Net Assets (Financial Strength) of these Non-Profit Hospital Organizations occurred when these Non-Profit Hospitals were also playing very instrumental roles in the substantial annual percentage growth reduction of Total US Health Care Costs which occurred in each of the most recent three years under the ACA.
With such impressive Net Asset percentage increases of these 11 Georgia Hospitals, a key beneficiary of this will be Georgia citizens electing to buy health insurance on the Health Insurance Exchange. This strong Net Asset growth gives these Georgia Hospitals the financial flexibility to moderate their pricing for hospital procedures in their negotiations with health insurance companies which ultimately determines what insurance premium prices are set at by health insurance companies on the Health Insurance Exchange.
Georgia Struggling Hospitals
There are so many Georgia Hospitals outside the Atlanta area which are struggling financially, posting year after year of Operating Losses.
In addition, there are also some Safety Net Hospitals in the Atlanta area which are generating large Operating Losses year after year. To illustrate just one, from a review of their financial statements in EMMA, the Safety Net Hospital Grady Memorial Hospital registered Total Operating Losses of $248 mil for the 5 years ended December 2012.
But it's not just Grady which is really suffering financially.
From EMMA, I found 24 Georgia Non-Profit Hospital Organizations. Fourteen of these 24, or 58% of them, generated Operating Income as a Percentage of Total Operating Revenues of less than 1.0% in their most recent fiscal year, as you can see from the below chart. And 9 of these 24 Georgia Hospital Organizations posted Operating Losses in their most recent fiscal year.
|mils $s||mils $s||%|
|Georgia Hospital Organizations|
|Southern Regional Health||Riverdale||(20.6)||247||-8.3%||Jun 2013|
|Hosp Authority Wilkes County||Washington||(1.2)||15||-8.2%||Apr 2013|
|Dekalb Regional Health||Decatur||(27.0)||415||-6.5%||Jun 2013|
|Hosp Authority Liberty County||Hinesville||(2.2)||37||-5.9%||Nov 2011|
|Hosp Authority Fulton-DeKalb County (Grady Memorial Hosp)||Atlanta||(29.9)||705||-4.2%||Dec 2012|
|Columbus Regional Healthcare||Columbus||(17.5)||424||-4.1%||Jun 2013|
|Hosp Authority Valdosta & Lowndes County||Valdosta||(5.3)||293||-1.8%||Sep 2013|
|Memorial Health||Savannah||(5.9)||542||-1.1%||Dec 2013|
|Phoebe Putney Health System||Albany||(6.2)||669||-0.9%||Jul 2013|
|University Health Richmond County||Augusta||-||457||0.0%||Dec 2012|
|Central Georgia Health System||Macon||0.3||749||0.0%||Sep 2013|
|Piedmont HealthCare||Atlanta||1.2||1,597||0.1%||Jun 2013|
|Floyd Healthcare||Rome||2.0||328||0.6%||Jun 2013|
|Athens Regional Health||Athens||3.5||432||0.8%||Sep 2013|
|Total all 14||(108.8)||6,910||-1.6%|
When you have 58% of your Georgia Hospital Organizations with these huge Operating Losses or extremely modest Operating Income, the responsible thing to do is to deal with them and not ignore them. So far, the State of Georgia has irresponsibly decided to ignore them.
The best and only way to substantially strengthen the very poor Operating Results of these so many struggling Georgia Hospitals is for the State of Georgia to fully expand Medicaid. This action will dramatically improve the profits of every single Georgia Hospital.
A key side benefit here to Georgia citizens is that the resultant profit enhancements and thus Net Asset enhancements of all of these Georgia Hospitals due to Medicaid expansion will give these Georgia Hospitals the financial flexibility to moderate their pricing for hospital and other health care procedures in their negotiations with health insurance companies which ultimately determines what insurance premium prices are set at by health insurance companies on the Health Insurance Exchange.