Mississippi Non-Profit Hospitals Net Assets Up 15% Under Obama and the Affordable Care Act

From a review of the Electronic Municipal Market Access (EMMA), I found 5 Non-Profit Hospital Organizations headquartered in the State of Mississippi with Net Assets (i.e. Financial Strength or Total Assets minus Total Liabilities) at the most recent date of more than $300 mil each.  Below here are the Net Assets of these 5 at both the most recent reported date and also at the Fiscal Year End (FYE) closest to the beginning of the Obama Administration:

						FYE	Balance	Net
				Most		Balance	Sheet	Assets
			Most	Recent		Sheet	Net	%
			Recent	Balance		Date	Assets	Change
			Balance	Sheet		Beginning	Beginning	During
	City	State	Sheet	Net		Obama	Obama	Obama
Hospital Organization	HQs	HQs	Date	Assets		Admin	Admin	Admin
				mil $s			mil $s
North Mississippi Health Services	Tupelo	MS	Sep 13	759		Sep 09	670	13%
University Mississippi Medical Center	Jackson	MS	Jun 12	688		Jun 09	630	9%
Forest County General Hospital	Hattiesburg	MS	Dec 13	393		Sep 09	293	34%
Mississippi Baptist Health System	Jackson	MS	Nov 13	365		Aug 09	312	17%
Memorial Hospital	Gulfport	MS	Sep 13	318		Sep 09	292	9%
Total of all 5				2,523			2,197	15%

As you can see from the above chart, the Total Net Assets (Financial Strength) of these 5 Mississippi Non-Profit Hospital Organizations increased by 15% for their short 3.90 years during the Obama Administration.

It should be pointed out that the University Mississippi Medical Center has not reported its June 30, 2013 Net Asset amount yet.  But then for the 3 years ended June 30, 2012, its Net Asset growth was a very modest 9%.

I've reviewed all of the US States and Mississippi's Total Net Asset growth during the Obama Administration is much lower than that of any other State.

Mississippi Struggling Hospitals

From a review of EMMA, I found 10 Mississippi Hospital Organizations with more than $10 mil of Total Revenues in their most recent fiscal year.  6 of the 10 had Operating Losses, which totaled $238 mil, which was a massively high negative 9.2% of their Total Operating Revenues of $2,584 mil, as you can see in the below chart:

					Most
					Recent
				Operating	Annual
		Operating	Total	Income	Fiscal
	City	Income	Operating	(Loss)	Year
	HQs	(Loss)	Revenues	Margin	End
		mils $s	mils $s	%
Mississippi Non-Profit Hospital Organizations
University Mississippi Medical Center	Jackson	(163.4)	836	-19.5%	Jun 12
North Mississippi Health Services	Tupelo	(46.7)	735	-6.4%	Sep 13
Mississippi Baptist Health Systems	Jackson	(22.7)	417	-5.4%	Aug 13
Singing River Health	Pascagoula	(2.3)	380	-0.6%	Sep 12
King's Daughters Medical Center	Brookhaven	(2.2)	71	-3.1%	Sep 13
Southwest Mississippi Regional Medical Center	McComb	(1.1)	145	-0.8%	Sep 13
Total all 6		(238.4)	2,584.0	-9.2%

When you have these kinds of huge Operating Losses, the responsible thing to do is to deal with them and not ignore them.  So far, the State of Mississippi has decided to ignore them.

The best and only way to substantially strengthen these struggling Mississippi Hospitals is for the State of Mississippi to fully expand Medicaid.

A key side benefit here to Mississippi citizens is that the resultant profit enhancements and thus Net Asset enhancements of all Mississippi Hospitals due to Medicaid expansion will give them 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.