Wednesday, October 15, 2014

New York Non-Profit Hospitals Net Assets Up 127% 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 New York 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

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

Memorial Sloan-Kettering Cancer Center New York NY  Jun 14      5,341
Dec 08        3,224 66%
New York and Presbyterian Hospital New York NY  Jun 14      4,961
Dec 08        2,333 113%
North Shore Long Island Jewish Health Great Neck NY  Jun 14      3,143
Dec 08           614 412%
Mount Sinai Hospital New York NY  Jun 14      1,247
Dec 08           477 161%
NYU Hospitals Center New York NY May 14     1,196
Aug 09           401 198%
Icahn School Medicine Mount Sinai New York NY  Dec 13      1,129
Dec 08           765 48%
Catholic Health Services Long Island Rockville Centre NY  Jun 14      1,050
Dec 08           561 87%
Montefiore Medical Center New York NY  Jun 14         953
Dec 08           320 198%
St. Peters Health Partners Albany NY  Jun 13         776
Dec 08           158 391%
Hospital for Special Surgery New York NY  Jun 14         671
Dec 08           269 149%
Albany Medical Center Albany NY  Dec 13         466
Dec 08           113 312%

Total all 11


       9,235 127%

As you can see from the above chart, the Total Net Assets (Financial Strength) of these 11 New York Non-Profit Hospital Organizations increased by a spectacular 127% to $20.933 bil so far during the Obama Administration.

Eight of the 11 had their Total Net Assets more than double during the Obama Administration so far.

The lowest percentage increase of the 11 was a robust 48%.

Very positively impacting this massive increase in the Net Assets (Financial Strength) of these 11 New York 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 11 New York 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 11 New York Hospitals, a key beneficiary of this has been and will continue to be New York citizens electing to buy health insurance on the Health Insurance Exchange.  This exceptional Net Asset growth gives these New York 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.