These 5 Connecticut Non-Profit Hospital Organizations generated Total Bottom Line Net Income of an exceptional 9.9% of Total Operating Revenues in 2013, which even exceeded that of the 30 Dow Industrials combined.
The main contributor to these outstanding operating results in 2013 was Hartford Healthcare.
The only problem with these exceptional operating results in 2013 for some of these Connecticut Non-Profit Hospital Organizations was that instead of taking the high road and responsibly reducing their Patient Service Pricing, these Connecticut Non-Profit Hospital Organizations elected to retain these excessively high Bottom Line Profits, which also added to both their Net Assets and treasure chest of Investments in Stocks and Bonds.
Below are the Bottom Line Net Income and Total Operating Revenues for each of these 5 Connecticut Non-Profit Hospital Organizations for 2013:
|Connecticut Hospital Organ||City HQs||End||Income||Revenues||Margin|
|mil $s||mil $s||%|
|Hartford Healthcare||Hartford||Sep 13||346||2,128||16.3%|
|Greenwich Healthcare Services||Greenwich||Sep 13||28||333||8.4%|
|Yale-New Haven Hospital||New Haven||Sep 13||179||2,342||7.6%|
|Western Connecticut Health||Danbury||Sep 13||34||713||4.8%|
|Stamford Health System||Stamford||Sep 13||12||518||2.3%|
|Total all 5||599||6,034||9.9%|
There is a very positive aspect to these excessively high Bottom Line Profits of some of these Connecticut Non-Profit Hospital Organizations. These incredibly high Profits are getting added to the Net Assets (Financial Strength) of these Connecticut Hospital Organizations.
Thus a key beneficiary of this should be Connecticut citizens electing to buy health insurance on the Health Insurance Exchange. This exceptional Net Asset growth driven by these exceedingly high Bottom Line Profits gives these Connecticut Hospital Organizations 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.
And armed with audited financial data concerning the excessively high profits earned by some of these Connecticut Non-Profit Hospital Organizations, Health Insurance Companies should be able to do a much better job in representing their policy holders, including those getting Health Insurance on the Health Insurance Exchange.
And there's an added factor in Connecticut's case which should drive down Health Insurance Premiums on the Health Insurance Exchange even more. Connecticut passed full Medicaid expansion and there is an additional real beauty with full Medicaid expansion. It increases nearly every Hospital's profits so much that Hospitals just have to reduce their Hospital charges very substantially and they also will be much more reasonable in negotiating Hospital Charges with Health Insurance Companies. Thus it is only logical that this will also result in much lower Health Insurance Premiums on the Health Insurance Exchange.