Thursday, October 16, 2014

Missouri Non-Profit Hospitals Net Assets Up 103% Under Obama and the Affordable Care Act

From a review of the Electronic Municipal Market Access (EMMA), I found 11 Non-Profit Hospital Organizations headquartered in the State of Missouri 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 11 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 Recent
Balance Sheet Assets

Recent Balance
Sheet Net %

Balance Sheet
Date Assets Change
City State Sheet Net
Beginning Beginning During
Hospital Organization HQs HQs Date Assets
Obama Obama Obama

mil $s
Admin Admin Admin

mil $s
Ascension Health Edmundson MO Jun 14      18,975
Jun 09        8,275 129%
BJC Healthcare St Louis MO Jun 14        5,399
Dec 08        2,705 100%
Mercy Health Chesterfield MO Jun 14        3,370
Jun 09        2,118 59%
SSM Health Care St Louis MO Jun 14        2,083
Dec 08           933 123%
St Luke's Health System Kansas City MO Jun 14        1,134
Dec 08           703 61%
Children's Mercy Hospitals Kansas City MO Jun 14        1,082
Jun 09           668 62%
CoxHealth Springfield MO Jun 14           696
Sep 09           456 53%
University Missouri Health Care Columbia MO Jun 14           580
Jun 09           365 59%
North Kansas City Hospital Kansas City MO Sep 13           556
Jun 09           452 23%
Saint Francis Medical Center Cape Girardeau MO Jun 14           523
Jun 09           274 91%
Heartland Regional Medical Center St Joseph MO Jun 14           486
Jun 09           214 127%

Total all 11


      17,163 103%

As you can see from the above chart, the Total Net Assets (Financial Strength) of these 11 Missouri Non-Profit Hospital Organizations increased by a phenomenal 103% to a massive $34.884 bil so far during the Obama Administration, driven by huge Ascension Health's Net Asset Increase of $10.7 bil or up 129%.

Very positively impacting this spectacular increase in the Net Assets (Financial Strength) of these 11 Missouri 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 very robust increase in Net Assets (Financial Strength) of these 11 Missouri 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 impressive Net Asset percentage increases of these 11 Missouri Hospitals, a key beneficiary of this has been and will continue to be Missouri citizens electing to buy health insurance on the Health Insurance Exchange. And since the giant Ascension Health, which has increased its Net Assets by $10.7 bil or by 129% during the Obama Administration, has Hospitals located all over the US, citizens in many US States electing to buy health insurance on the Health Insurance Exchange will also be key beneficiaries. This strong Net Asset growth gives these Missouri 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.