|mil $s||mil $s|
|Franciscan Missionaries Our Lady Health||Baton Rouge||LA||Jun 14||1,407||Jun 09||830||70%|
|Willis-Knighton Medical Center||Shreveport||LA||Sep 13||726||Sep 09||430||69%|
|Ochsner Health System||Jefferson||LA||Jun 14||615||Dec 08||321||92%|
|LSU Health Care Services Division||Baton Rouge||LA||Jun 13||453||Jun 09||132||243%|
|Total all 4||3,201||1,713||87%|
As you can see from the above chart, the Total Net Assets (Financial Strength) of these 4 Louisiana Non-Profit Hospital Organizations increased by a very impressive 87% to $3.201 bil so far during the Obama Administration.
And all 4 of them are doing just great from a Financial Strength standpoint, with the lowest Net Asset growth of the 4 being a very robust 69%.
Very positively impacting this very robust increase in the Net Assets (Financial Strength) of these 4 Louisiana Hospital Organizations 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 impressive increase in Net Assets (Financial Strength) of these 4 Louisiana 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 very solid Net Asset percentage increases of these 4 Louisiana Hospitals, a key beneficiary of this has been and will continue to be Louisiana citizens electing to buy health insurance on the Health Insurance Exchange. This very robust Net Asset growth gives these Louisiana 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.
Which takes us to the Louisiana Governmental Public Hospitals, so many of which continue to lose tons of money.
From their financial statements in EMMA, below here are the 11 Louisiana Hospital Organizations which generated Operating Losses in their most recent fiscal year:
|mils $s||mils $s||%|
|Louisiana Non-Profit Hospital Organizations|
|LSU Health Care Services Division||Baton Rouge||(224.1)||521||-43.0%||Jun 13|
|LSU Health Sciences Center||New Orleans||(132.1)||362||-36.5%||Jun 13|
|Schumpert Highland Hospital and Health*||Shreveport||(70.0)||219||-32.0%||Jun 13|
|LSU Health Sciences Center||Shreveport||(114.4)||599||-19.1%||Jun 13|
|St. Charles Parish Hosp District||Luling||(5.2)||30||-17.3%||Jul 12|
|Lafourche Parish Hosp District||Galliano||(3.7)||27||-13.8%||Jun 13|
|Coushatta Health*||Coushatta||(0.9)||12||-7.5%||Jun 13|
|Jefferson Parish Hosp District #2 East||Metairie||(14.1)||366||-3.9%||Dec 12|
|Patrick Hospital*||Lake Charles||(3.6)||119||-3.0%||Jun 13|
|Tangipahoa Parish Hosp District||Hammond||(8.1)||277||-2.9%||Jun 13|
|Ochsner Health||Jefferson||(35.0)||1,842||-1.9%||Dec 12|
|Total all 11||(611.2)||4,374||-14.0%|
* Part of Christus Health
When you have these kinds of massive Operating Losses, the responsible thing to do is to deal with them and not ignore them. So far, the State of Louisiana has decided to ignore them.
These massive losses are effectively being funded by Louisiana citizens and businesses.
The best and only way to substantially strengthen these struggling Louisiana Governmental Public Hospitals and relieve Louisiana citizens and businesses from funding these massive losses is for the State of Louisiana to fully expand Medicaid.
A key side benefit here to Louisiana citizens is that the resultant profit enhancements and thus Net Asset enhancements of these Louisiana Governmental Public Hospitals as well as all Louisiana 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.