One of these 12 North Carolina Non-Profit Hospitals.....the huge Carolina's Health Care System.... still hasn't published its December 2013 financial statements yet and thus I only included for 2013 below its 9 months ended September 30, 2013 operating data. When it publishes its December 2013 financial statements, I'll then update the amounts included in the chart below.
These 12 North Carolina Non-Profit Hospital Organizations generated Total Bottom Line Net Income of a superb 10.0% of Total Operating Revenues in 2013 and of a similar superb 9.0% in the most recent 4 years combined.
The main contributor to these outstanding operating results was the huge renown Duke University Health System which posted a Net Income Margin of 18.9% for the most recent 4 years combined and of 17.3% in 2013.
The only problem with these exceptional operating results was that instead of taking the high road and responsibly reducing their Patient Service Pricing, these North Carolina 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 12 North Carolina Non-Profit Hospital Organizations for 2013, for 2012 and for the most recent 4 years combined:
|Most||2013||2012||2010-13||4 Year||4 Year|
|North Carolina Hospital Organ||City HQs||End||Income||Revenues||Margin||Income||Revenues||Margin||Income||Revenues||Margin|
|mil $s||mil $s||%||mil $s||mil $s||%||mil $s||mil $s||%|
|Cone Health||Greensboro||Sep 13||263||1,140||23.1%||83||1,023||8.1%||435||3,901||11.2%|
|Duke University Health System||Durham||Jun 13||440||2,539||17.3%||173||2,478||7.0%||1,778||9,407||18.9%|
|CaroMont Health||Gastonia||Jun 13||66||484||13.6%||13||489||2.7%||238||1,885||12.6%|
|Univ North Carolina Hosps||Chapel Hill||Jun 13||152||1,212||12.5%||121||1,185||10.2%||619||4,399||14.1%|
|Mission Health System||Asheville||Sep 13||132||1,233||10.7%||81||1,054||7.7%||341||4,111||8.3%|
|Novant Health||Winston-Salem||Dec 13||273||3,593||7.6%||274||3,555||7.7%||710||13,616||5.2%|
|Vidant Health||Greenville||Sep 13||120||1,601||7.5%||136||1,551||8.8%||354||5,651||6.3%|
|New Hanover Regional Med Ctr||Wilmington||Sep 13||53||718||7.4%||41||667||6.1%||158||2,676||5.9%|
|Rex Healthcare||Raleigh||Jun 13||46||731||6.3%||50||707||7.1%||219||2,638||8.3%|
|FirstHealth of the Carolinas||Pinehurst||Sep 13||31||565||5.5%||28||524||5.3%||94||2,023||4.6%|
|Carolinas Health Care System||Charlotte||Dec 13||181||3,412||5.3%||375||4,194||8.9%||1,016||14,669||6.9%|
|Cape Fear Valley Health System||Fayetteville||Sep 13||32||657||4.9%||45||674||6.7%||118||2,558||4.6%|
|Total all 12||1,789||17,885||10.0%||1,420||18,101||7.8%||6,080||67,534||9.0%|
There is a very positive aspect to these excessively high Bottom Line Profits in the most recent 4 years of these North Carolina Non-Profit Hospital Organizations. These incredibly high Profits are getting added to the Net Assets (Financial Strength) of these North Carolina Hospital Organizations.
Thus a key beneficiary of this should be North Carolina 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 North Carolina 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 these large North Carolina Non-Profit Hospital Organizations in the past 4 years, 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.
Details to come.