Sunday, February 15, 2015

Ohio Non-Profit Hospital Net Assets (Financial Strength) Up 114% 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 14 Non-Profit Hospital Organizations all headquartered in the State of Ohio 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 14 Ohio 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

Cleveland Clinic Health System Cleveland OH Sep 14     6,741
Dec 08      2,715 148%
OhioHealth Columbus OH Sep 14     3,359
Jun 09      1,259 167%
Mercy Health Cincinnati OH Sep 14     3,223
Dec 08      1,614 100%
Cincinnati Children's Hospital Medical Ctr Cincinnati OH  Dec 14      2,488
Jun 09      1,140 118%
Nationwide Children's Hospital Columbus OH Sep 14     1,977
Dec 08         761 160%
University Hospitals Health System Cleveland OH Sep 14     1,924
Dec 08      1,078 78%
ProMedica Health Care Toledo OH Sep 14     1,668
Dec 08      1,042 60%
Premier Health Partners Dayton OH  Dec 14      1,619
Dec 08      1,111 46%
Ohio State Univ Wexner Med Ctr Columbus OH Jun 14     1,066
Jun 09         555 92%
Summa Health System Akron OH Sep 14        958
Dec 08         407 135%
Kettering Health Network Dayton OH Sep 14        904
Dec 08         340 166%
UC Health (Cincinnati) Cincinnati OH Sep 14        703
Jun 09         415 69%
Children's Hospital Med Center Akron Akron OH  Dec 14         615
Dec 08         247 149%
Christ Hospital Health Network Cincinnati OH  Dec 14         533
Jun 09         317 68%

Total all 14


     13,001 114%

As you can see from the above chart, the Total Net Assets (Financial Strength) of these 14 largest Ohio Hospital Organizations totaled a massive $27,778 mil, up a huge 114% from such Total Net Asset amounts of $13,001 mil at their fiscal year ends which included the 2008-09 US Financial Meltdown.

With such a very impressive Ohio Hospital Net Asset percentage increase, a key beneficiary of this will be Ohio 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 Ohio 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.