Ohio Non-Profit Hospitals Net Assets Up 93% Under Obama and the Affordable Care Act

From a review of the Electronic Municipal Market Access (EMMA), I found 15 Non-Profit Hospital Organizations headquartered in the State of Ohio with Net Assets (i.e. Financial Strength or Total Assets minus Total Liabilities) at the most recent date of more than $400 mil each.  Below here are the Net Assets of these 15 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
Cleveland Clinic Health System	Cleveland	OH	Dec 13	6,208		Dec 08	2,715	129%
OhioHealth	Columbus	OH	Dec 13	2,925		Jun 09	1,259	132%
Catholic Health Partners	Cincinnati	OH	Dec 13	3,097		Dec 08	1,614	92%
Cincinnati Children's Hospital Med Ctr	Cincinnati	OH	Mar 14	2,234		Jun 09	1,140	96%
Premier Health Partners	Dayton	OH	Dec 13	1,715		Dec 08	1,111	54%
Nationwide Children's Hospital	Columbus	OH	Sep 13	1,644		Dec 08	761	116%
ProMedica Health Care	Toledo	OH	Dec 13	1,614		Dec 08	1,042	55%
University Hospitals Health System	Cleveland	OH	Dec 13	1,649		Dec 08	1,078	53%
Mount Carmel Health	Columbus	OH	Jun 13	1,238		Jun 09	850	46%
Ohio State Univ Wexner Med Ctr	Columbus	OH	Jun 13	924		Jun 09	555	66%
Summa Health System	Akron	OH	Dec 13	874		Dec 08	407	115%
Kettering Health Network	Dayton	OH	Mar 14	826		Dec 08	340	143%
UC Health (Cincinnati)	Cincinnati	OH	Dec 13	675		Jun 09	415	63%
Children's Hospital Med Center Akron	Akron	OH	Dec 13	573		Dec 08	247	132%
Christ Hospital Health Network	Cincinnati	OH	Dec 13	478		Jun 09	317	51%
Total all 15				26,674			13,851	93%

As you can see from the above chart, the Total Net Assets (Financial Strength) of these 15 Ohio Non-Profit Hospital Organizations increased by a spectacular 93% to $26.674 bil during their average 4.70 years so far of the Obama Administration.

The lowest percentage increase of the 15 was a robust 46%.

In just the past 6 months, this Total Net Asset increase grew substantially from 65% to 93%.  The main driver here was Cleveland Clinic's giant $816 mil increase in Net Assets from $5.392 bil at June 30, 2013 to $6.208 bil at December 31, 2013.

Very positively impacting this massive increase in the Net Assets (Financial Strength) of these 15 Ohio 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 15 Ohio 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 15 Ohio Hospitals, a key beneficiary of this will be Ohio citizens electing to buy health insurance on the Health Insurance Exchange.  This exceptional Net Asset growth gives these Ohio 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.  

Ohio State University

A very late find was the Ohio State University (OSU) Wexner Medical Center.

Ohio State University is a Non-Profit Governmental Entity and thus so is its OSU Wexner Medical Center.

Below here are the Total Operating Revenues and Total Operating Expenses of OSU Wexner Medical Center for each of the most recent 3 Fiscal Years (FYs), which is all that I could find on EMMA:

OSU Wexner Medical Center				Total
				Three
	FY 2013	FY 2012	FY 2011	FYs
	mil $s	mil $s	mil $s	mil $s
Operating Revenues	2,029	1,913	1,706	5,648
Operating Expenses	1,814	1,738	1,553	5,105
=Operating Income	215	175	153	543
Operating Income as % of Operating Revenues	10.6%	9.1%	9.0%	9.6%

 
Whoa, this is pretty crazy for a Non-Profit Governmental Hospital to generate Health Care Operating Income as a Percentage of the Related Operating Revenues for the most recent 3 years of an excessively high 9.6%, which is pretty much equivalent to the Total Bottom Line Profit Margin of the 30 pristine Dow Industrials.  It tells you why the US has a huge Health Care Cost problem and it also tells you that the Hospital and Other Health Care Patients and the Businesses and the US Government covering them are all getting ripped off by OSU Wexner Medical Center's exorbitant pricing of hospital and other health care procedures.

OSU Wexner Medical Center's Net Assets have increased by 66% during the Obama Administration through June 30, 2013, going from $555 mil at June 30, 2009 to $924 mil at June 30, 2013. 

Which takes me finally to a very positive aspect of the extremely high OSU Wexner Medical Center Operating Profits as well as the resultant massive build-up of the Net Assets of the OSU Wexner Medical Center.

With such substantial Total Net Assets dollar and percentage increases of the OSU Wexner Medical Center, one of the key beneficiaries of this will be Ohio citizens electing to buy health insurance on the Health Insurance Exchange.  This exceptional Net Asset growth gives the OSU Wexner Medical Center 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.