Sunday, February 15, 2015

South Carolina Non-Profit Hospital Net Assets (Financial Strength) Up 51% Since 2008 Financial Meltdown ..... The Main Reason Health Insurance Premiums Are Now Fairly Reasonable on Health Insurance Exchange

From a review of the Electronic Municipal Market Access (EMMA), I found 7 Non-Profit Hospital Organizations all headquartered in the State of South Carolina 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 7 South Carolina 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

McLeod Health Florence SC  Dec 14      1,068
Sep 09         533 100%
Greenville Hospital System Greenville SC Sep 14     1,062
Sep 09         802 32%
Palmetto Health Columbia SC Sep 14        835
Sep 09         593 41%
Lexington County Health Services District West Columbia SC Sep 14        715
Sep 09         454 57%
Spartanburg Regional Healthcare System Spartanburg SC  Dec 14         598
Sep 09         487 23%
Self Regional Healthcare Greenwood SC Sep 14        493
Sep 09         305 62%
Anmed Health Anderson SC Sep 14        482
Sep 09         300 61%

Total all 7


      3,474 51%

As you can see from the above chart, the Total Net Assets (Financial Strength) of these 7 largest South Carolina Hospital Organizations totaled $5,253 mil at the most recently reported date, up a solid 51% from such Total Net Asset amounts of $3,474 mil at their fiscal year ends which included the 2008-09 US Financial Meltdown.

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