Sunday, February 15, 2015

New York Non-Profit Hospital Net Assets (Financial Strength) Up 134% Since 2008 Financial Meltdown ..... The Main Reason Health Insurance Premiums Are Now So Reasonable on Health Insurance Exchange

From a review of the Electronic Municipal Market Access (EMMA), I found 11 Non-Profit Hospital Organizations all 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 reported of more than $400 mil each.

Below here are the Net Assets of these 11 New York Non-Profit Hospital Organizations at both the most recent reported date and also at the end of the Fiscal Year which included the late 2008 US Financial Meltdown:

Net Net

Assets Assets


Balance Balance Increase

Sheet Sheet Since

Date Date FYE

Most Recent
Including Including Including

Recent Balance
2008-09 2008-09 2008-09

Balance Sheet
City State Sheet Net
Financial Financial Financial
US Hospital Organization HQs HQs Date Assets
Meltdown Meltdown Meltdown

mil $s
mil $s

Memorial Sloan-Kettering Cancer Center New York NY Sep 14     5,339
Dec 08      3,224 66%
New York and Presbyterian Hospital New York NY Sep 14     5,075
Dec 08      2,333 118%
North Shore Long Island Jewish Health Great Neck NY Sep 14     3,134
Dec 08         614 410%
NYU Hospitals Center New York NY Nov 14     1,612
Aug 09         401 302%
Mount Sinai Hospital New York NY Sep 14     1,265
Dec 08         477 165%
Icahn School Medicine Mount Sinai New York NY  Dec 13      1,129
Dec 08         765 48%
Catholic Health Services Long Island Rockville Centre NY Sep 14     1,047
Dec 08         561 87%
Montefiore Medical Center New York NY Sep 14        945
Dec 08         320 195%
St. Peters Health Partners Albany NY  Dec 14         847
Dec 08         158 436%
Hospital for Special Surgery New York NY  Dec 14         702
Dec 08         269 161%
Albany Medical Center Albany NY  Dec 14         516
Dec 08         113 357%

Total all 11


      9,235 134%

As you can see from the above chart, the Total Net Assets (Financial Strength) of these 11 largest New York Hospital Organizations totaled a massive $21,611 mil, up a huge 134% from such Total Net Asset amounts of $9,235 mil at their fiscal year ends which included the 2008-09 US Financial Meltdown.

With such a very impressive New York Hospital Net Asset percentage increase, a key beneficiary of this will be New York citizens who have elected or will be electing to buy health insurance on the Health Insurance Exchange.  This superb Net Asset growth has given and will continue to give these New York Hospitals 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