|mil $s||mil $s|
|New York and Presbyterian Hospital||New York||NY||Dec 13||4,792||Dec 08||2,333||105%|
|Memorial Sloan-Kettering Cancer Center||New York||NY||Dec 13||5,144||Dec 08||3,224||60%|
|North Shore Long Island Jewish Health||Great Neck||NY||Dec 13||2,989||Dec 08||614||387%|
|Mount Sinai Hospital||New York||NY||Dec 13||1,226||Dec 08||477||157%|
|NYU Hospitals Center||New York||NY||Feb 14||1,167||Aug 09||401||191%|
|Icahn School Medicine Mount Sinai||New York||NY||Dec 13||1,129||Dec 08||765||48%|
|Catholic Health Services Long Island||Rockville Centre||NY||Dec 13||1,025||Dec 08||561||83%|
|Montefiore Medical Center||New York||NY||Dec 13||896||Dec 08||320||180%|
|St. Peters Health Partners||Albany||NY||Jun 13||776||Dec 08||158||391%|
|Hospital for Special Surgery||New York||NY||Dec 13||629||Dec 08||269||134%|
|Albany Medical Center||Albany||NY||Dec 13||466||Dec 08||113||312%|
|Total all 11||20,239||9,235||119%|
As you can see from the above chart, the Total Net Assets (Financial Strength) of these 11 New York Non-Profit Hospital Organizations increased by a spectacular 119% to $20.239 bil during their average 4.91 years so far of the Obama Administration.
Eight of the 11 had their Total Net Assets more than double during the Obama Administration so far.
The lowest percentage increase of the 11 was a robust 48%.
Very positively impacting this massive increase in the Net Assets (Financial Strength) of these 11 New York Hospitals 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 huge increase in Net Assets (Financial Strength) of these 11 New York 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 spectacular Net Asset percentage increases of these 11 New York Hospitals, a key beneficiary of this will be New York citizens electing to buy health insurance on the Health Insurance Exchange. This exceptional Net Asset growth gives these New York 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.
State University of New York (SUNY)
None of the above amounts have anything to do with the State University of New York (SUNY) Hospitals and Clinics. SUNY is a Non-Profit Governmental Entity and thus so is its Hospitals and Clinics.
Below here are the Total Operating Revenues and Total Operating Expenses of the SUNY Hospitals and Clinics for the most recent 4 years:
|SUNY Hospitals and Clinics|
|FY 2013||FY 2012||FY 2011||FY 2010||FYs|
|mil $s||mil $s||mil $s||mil $s||mil $s|
|Hospital and Clinic Revenues||2,539||2,459||2,012||1,877||8,887|
|Hospital and Clinic Expenses||2,674||2,652||2,301||2,227||9,854|
|=Hospital Operating Loss||(135)||(193)||(289)||(350)||(967)|
So, SUNY Hospitals and Clinics had Total Losses of $967 mil for the most recent 4 years.
New York City Health & Hospitals Corp
The City of New York is a Non-Profit Governmental Entity and thus so is its New York City Health & Hospitals Corp, which is a Component of the City of New York.
New York City Health & Hospitals Corp is just huge with 11 hospitals and 70 primary care sites.
Since it is a safety net hospital and is so huge, it has accumulated massive losses. Below here are these losses for each of the most recent 3 years:
New York City Health & Hospitals Corp
|June||mils $s||mils $s||mils $s|
|3 Year Total||(1,607)||(1,884)||17,956|
Yeah, those are $1.884 bil Total Bottom Line Losses for the most recent 3 fiscal years.
Other Struggling New York Hospitals
In addition to New York City Health & Hospitals Corp and SUNY Hospitals & Clinics, here are 6 more New York Hospital Organizations with annual Total Operating Revenues above $1 bil and with Total Operating Income as a Percentage of Total Operating Revenues of 1.5% or less in their most recent fiscal year:
|New York Hospital Organization||City HQs||Year||Income||Operating||Margin|
|mil $s||mil $s|
|St. Luke's Roosevelt Hospital||New York||Dec 2012||9.6||1,199||0.8%|
|Catholic Health Services Long Island||Rockville Centre||Dec 2013||18.9||2,096||0.9%|
|Albany Medical Center||Albany||Dec 2013||9.6||1,014||0.9%|
|Winthrop University Hospital Association||Mineola||Dec 2013||13.2||1,117||1.2%|
|Kaleida Health Buffalo||Buffalo||Dec 2012||15.6||1,222||1.3%|
|North Shore Long Island Jewish Health||Great Neck||Dec 2012||97.9||6,702||1.5%|
But the very positive aspect to this is that the State of New York has fully expanded Medicaid. So with the resultant massive inflow of Patient Revenues from Medicaid expansion, New York City Health & Hospitals Corp and SUNY Hospitals & Clinics should both be able to make a major dent in reducing their massive losses and perhaps even turn these massive losses into profits. And the New York Hospitals with very modest Operating Income should be able to generate much more robust Operating Profits.
One of the key beneficiaries of this very healthy improvement in Operating Income and thus also in the Total Net Assets of New York City Health & Hospitals Corp, SUNY Hospitals & Clinics and other struggling New York Hospitals will be New York citizens electing to buy health insurance on the Health Insurance Exchange. This exceptional Net Asset growth due to Medicaid expansion gives New York City Health & Hospitals Corp as well as all New York 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.