Saturday, February 7, 2015

US Hospital Net Assets (Financial Strength) Have More Than Doubled (Up 112%) Since 2008 Financial Meltdown ..... The Main Reason Health Insurance Premiums Are So Reasonable on Federal and State Health Insurance Exchanges Now and Why They Should Be Coming Down Much Further in the Future

Since the February 15, 2015 deadline for signups for the US Federal and the many US State Heath Insurance Exchanges is only 8 days away, I think it would be helpful to analyze just how financially successful US Hospitals have been.

The single clearly most relevant measure of the financial strength of a US Hospital Organization is its level of Net Assets ..... or the Excess of its Total Hospital Organization's Assets Over its Total Hospital Liabilities.

From a thorough review of the Electronic Municipal Market Access (EMMA) and of SEC filings, I found 165 US Hospital Organizations which had Total Net Assets of either more than $1 bil or less than a negative $1 bil on either the most recent date or on the fiscal year end date which included the 2008-09 US financial meltdown.

These 165 largest US Hospital Organization had Total Net Assets of $448.931 bil at the most recent date their financial statements disclosed them, which was a 112% increase from such comparable $211.382 bil amount at their fiscal year ends which included the 2008-09 US Financial Meltdown.

It should be pointed out that the majority of the below most recent Net Asset amounts are at September 30, 2014.  When the final December 31, 2014 Net Asset amounts are disclosed, the above 112% increase will turn out to be much higher.

None of the University of California Medical Schools are included below since they had huge Accounting Change Adjustments to Net Assets made in the most recent fiscal year but with no disclosure of their impact on Net Assets in the 2008-09 Financial Meltdown fiscal year end.

Below here are the Net Asset amounts at these two dates for these 165 largest US Hospital Organizations, with the US States being presented in alphabetical order:






Net Net







Assets Assets






FYE FYE %






Balance Balance Increase






Sheet Sheet Since




Most
Date Date FYE



Most Recent
Including Including Including



Recent Balance
2008-09 2008-09 2008-09



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




mil $s
mil $s








UAB Health System Birmingham AL Dec 14        1,076
Sep 09         744 45%
HealthSouth (Publicly-held Co) Birmingham AL Sep 14           593
Dec 08      (1,087) 155%
Banner Health Phoenix AZ Sep 14        4,629
Dec 08      1,669 177%
Catholic Health Initiatives Inverness CO Sep 14        9,275
Jun 09      5,505 68%
SCL Health Systems Denver CO Sep 14        2,328
Dec 08      2,263 3%
U Colorado Health Ft. Collins CO Sep 14        2,171 Feb 09      1,172 85%
Children's Hospital Colorado Aurora CO Sep 14        1,333
Dec 08         678 97%
DaVita Healthcare Partners (Publicly-held Co) Denver CO Sep 14         5,151
Dec 08       1,827 182%
Envision Healthcare (Publicly-held Co) Greenwood Village CO Sep 14         1,715
Dec 08          539 218%
Kaiser Permanente Oakland CA Sep 14      25,909
Dec 08    11,431 127%
Sutter Health Sacramento CA Sep 14        8,520
Dec 08      4,298 98%
Dignity Health San Francisco CA Sep 14        7,081
Jun 09      3,622 95%
St Joseph Health System Orange CA Sep 14        5,259
Jun 09      2,076 153%
Scripps Health San Diego CA Sep 14        2,958
Sep 09      1,354 118%
Cedars-Sinai Medical Center West Hollywood CA  Jun 14         3,051
Jun 09      1,517 101%
Stanford Health Care Stanford CA Nov 14        2,742
Aug 09         807 240%
City of Hope Duarte CA Sep 14        2,317
Sep 09      1,211 91%
Sharp HealthCare San Diego CA Sep 14        2,245
Sep 09         806 179%
Packard Children's Hospital Stanford Palo Alto CA Nov 14        1,907
Aug 09      1,068 79%
Memorial Health Services Oblig Group Fountain Valley CA Sep 14        1,713
Jun 09         769 123%
Adventist Health West Roseville CA Sep 14        1,601
Dec 08         969 65%
John Muir Health Walnut Creek CA Sep 14        1,491
Dec 08         756 97%
Children's Hospital Los Angeles Los Angeles CA Sep 14        1,072
Jun 09         758 41%
Cottage Health System Santa Barbara CA Sep 14        1,286
Dec 08         675 91%
El Camino Hhealthcare District Mountain View CA Jun 14        1,103
Jun 09         685 61%
Hartford Healthcare Hartford CT Jun 14        1,745
Sep 09         661 164%
Yale-New Haven Health Services New Haven CT Sep 14        1,867
Sep 09         588 218%
MedStar Health Columbia MD Sep 14        1,478
Jun 09         647 128%
Christiana Care Health Services Wilmington DE Dec 14        1,877
Jun 09         881 113%
Adventist Health System Altamonte Springs FL Sep 14        6,906
Dec 08      3,407 103%
BayCare Health System Clearwater FL Sep 14        3,786
Dec 08      1,523 149%
Baptist Health South Florida Coral Gables FL Sep 14        3,087
Sep 09      1,571 96%
Baptist Health System Jacksonville FL Dec 14        1,613
Sep 09         687 135%
Nemours Foundation Jacksonville FL Dec 13        1,100
Dec 08         744 48%
South Broward Hospital District Hollywood FL Oct 14        1,706
Apr 09      1,011 69%
Orlando Health Orlando FL Dec 14        1,438
Sep 09         875 64%
Mednax (Publicly-held Co) Sunrise FL Dec 14        2,266
Dec 08         965 135%
Health Management Associates (Publicly-held Co) Naples FL Sep 13        1,008
Dec 08         286 252%
Children's HealthCare Atlanta Atlanta GA Sep 14        3,453
Dec 08      1,482 133%
Wellstar Health System Marietta GA Sep 14        1,283
Jun 09         715 79%
Piedmont Healthcare Atlanta GA Sep 14        1,131
Jun 09         608 86%
Navicent Health Macon GA Dec 14        1,134
Sep 09         789 44%
Queens Health System Honololulu HI Sep 14        1,356
Jun 09         548 147%
UnityPoint Health Des Moines IA Sep 14        2,893
Dec 08      1,067 171%
University Iowa Hospitals & Clinics Iowa City IA Jun 13        1,172
Jun 09         969 21%
Advocate Health Care Network Oak Brook IL Sep 14        5,468
Dec 08      1,842 197%
Northwestern Memorial Health Care Chicago IL Nov 14        5,437
Aug 09      1,642 231%
Hospital Sisters Health System Springfield IL Sep 14        2,526
Jun 09      1,697 49%
NorthShore University Health System Evanston IL Dec 14        2,229
Sep 09      1,443 54%
Rush University Medical Center Chicago IL Sep 14        1,964
Jun 09      1,073 83%
Cadence Health Winfield IL Aug 14        1,916
Jun 09         879 118%
Children's Memorial Chicago Med Center Chicago IL Nov 14        1,581
Aug 09      1,051 50%
University Chicago Medical Center Chicago IL Sep 14        1,337
Jun 09         823 62%
OSF Healthcare System Peoria IL Sep 14        1,065
Sep 09         684 56%
Presence Health Chicago IL Sep 14        1,075 Jun 09         444 142%
Indiana University Health Indianapolis IN Sep 14        4,662
Dec 08      1,434 225%
St Vincent Health Indianapolis IN Jun 14        3,505 Jun 09      1,561 125%
Franciscan Alliance Mishawaka IN Sep 14        2,703
Dec 08      1,463 85%
Parkview Health System Fort Wayne IN Sep 14        1,231
Dec 08         543 127%
Beacon Health System South Bend IN Sep 14        1,125
Dec 08         341 230%
Community Health Network Indianapolis IN Sep 14        1,173
Dec 08         482 143%
Baptist Healthcare System Louisville KY Nov 14        1,697
Aug 09      1,036 64%
Franciscan Missionaries Our Lady Health Baton Rouge LA Sep 14        1,377
Jun 09         830 66%
Partners Healthcare System Boston MA Sep 14        6,943
Sep 09      4,975 40%
Boston Childrens Hospital Boston MA Sep 14        4,784
Sep 09      2,516 90%
CareGroup Healthcare System Boston MA Sep 14        1,718
Sep 09         978 76%
Dana-Farber Cancer Institute Boston MA Jun 14        1,306
Sep 09         836 56%
BMC Health System Boston MA Sep 14        1,472
Sep 09      1,026 43%
Johns Hopkins Health System Baltimore MD Sep 14        3,751
Jun 09      1,273 195%
University Maryland Medical System Baltimore MD Sep 14        1,629
Jun 09         904 80%
Bon Secours Health System Baltimore MD Nov 14        1,331
Aug 09         703 89%
CHE Trinity Health Livonia MI Sep 14      10,767
Mar 09      6,008 79%
Spectrum Health System Grand Rapids MI Sep 14        2,322
Jun 09      1,128 106%
Henry Ford Health System Detroit MI Sep 14        1,586
Dec 08      1,053 51%
Beaumont Health System Royal Oak MI Sep 14        1,266
Dec 08         787 61%
McLaren Health Care Flint MI Sep 14        1,424
Sep 09         682 109%
Mayo Clinic Rochester MN Sep 14        8,371
Dec 08      2,326 260%
HealthPartners Bloomington MN Sep 14        2,375
Dec 08         503 372%
Allina Health System Minneapolis MN Sep 14        2,134
Dec 08         804 165%
Fairview Health Services Minneapolis MN Sep 14        1,687
Dec 08         732 130%
Ascension Health Edmundson MO Sep 14      18,831
Jun 09      8,275 128%
BJC Healthcare St Louis MO Sep 14        5,468
Dec 08      2,705 102%
Mercy Health Chesterfield MO Sep 14        3,327
Jun 09      2,118 57%
SSM Health Care St Louis MO Sep 14        2,131
Dec 08         933 128%
St Luke's Health System Kansas City MO Sep 14        1,155
Dec 08         703 64%
Children's Mercy Hospitals Kansas City MO Sep 14        1,108
Jun 09         668 66%
Carolinas Health Care System Charlotte NC Sep 14        4,278
Dec 08      2,340 83%
Duke University Health System Durham NC Sep 14        3,054
Jun 09      1,392 119%
Novant Health Winston-Salem NC Sep 14        2,679
Dec 08      1,557 72%
Cone Health Greensboro NC  Dec 14         1,496
Sep 09         894 67%
Mission Health System Asheville NC  Dec 14         1,427
Sep 09         882 62%
University North Carolina Hospitals Chapel Hill NC  Dec 14         1,338
Jun 09         911 47%
North Carolina Baptist Hospital Winston-Salem NC Sep 14        1,008
Jun 09         715 41%
Vidant Health Greenville NC Sep 14        1,014
Sep 09         587 73%
Virtua Health Marlton NJ Sep 14        1,233
Dec 08         566 118%
AHS (Atlantic Health System) Hospital Morristown NJ Sep 14        1,351
Dec 08         510 165%
Presbyterian Healthcare Services Albuquerque NM Sep 14        1,897
Dec 08         706 169%
New York and Presbyterian Hospital New York NY Sep 14        5,075
Dec 08      2,333 118%
Memorial Sloan-Kettering Cancer Center New York NY Sep 14        5,339
Dec 08      3,224 66%
North Shore Long Island Jewish Health Great Neck NY Sep 14        3,134
Dec 08         614 410%
Mount Sinai Hospital New York NY Sep 14        1,265
Dec 08         477 165%
NYU Hospitals Center New York NY Nov 14        1,612
Aug 09         401 302%
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%
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%
Premier Health Partners Dayton OH Sep 14        1,730
Dec 08      1,111 56%
Nationwide Children's Hospital Columbus OH Sep 14        1,977
Dec 08         761 160%
ProMedica Health Care Toledo OH Sep 14        1,668
Dec 08      1,042 60%
University Hospitals Health System Cleveland OH Sep 14        1,924
Dec 08      1,078 78%
Ohio State Univ Wexner Med Ctr Columbus OH Jun 14        1,066
Jun 09         555 92%
Saint Francis Health System Tulsa OK  Dec 14         1,890
Jun 09         946 100%
Integris Health Oklahoma City OK  Dec 14         1,196
Jun 09         774 55%
Univ Oklahoma Health Sciences Ctr Oklahoma City OK Jun 14        1,002
Jun 09         717 40%
Oregon Health & Science University Portland OR Sep 14        2,376
Jun 09      1,570 51%
Legacy Health System Portland OR Sep 14        1,193
Mar 09         618 93%
UPMC Pittsburgh PA  Dec 14         5,430
Jun 09      2,756 97%
Children's Hospital Philadelphia Philadelphia PA Sep 14        3,465
Jun 09      1,938 79%
University Penn Health System Philadelphia PA Sep 14        2,639
Jun 09      1,163 127%
Main Line Health Paoli PA  Dec 14         2,359
Jun 09      1,346 75%
Geisinger Health System Danville PA Sep 14        2,527
Jun 09         901 180%
Lehigh Valley Health Network Allentown PA Sep 14        1,290
Jun 09         590 119%
Lancaster General Health Lancaster PA  Dec 14         1,108
Jun 09         622 78%
Universal Health Services (Publicly-held Co) King of Prussia PA Sep 14        3,657
Dec 08      1,771 106%
LifeSpan Providence RI Sep 14        1,453
Sep 09      1,225 19%
Greenville Hospital System Greenville SC Sep 14        1,062
Sep 09         802 32%
McLeod Health Florence SC Sep 14        1,045
Sep 09         533 96%
Sanford Health Sioux Falls SD Sep 14        2,044
Jun 09      1,242 65%
Avera Health Sioux Falls SD Sep 14        1,503
Jun 09         675 123%
St Jude Children's Research Hospital Memphis TN  Dec 14         3,592
Jun 09      1,907 88%
Baptist Memorial Health Care Memphis TN  Dec 14         1,632
Sep 09      1,501 9%
Methodist Le Bonheur Healthcare Memphis TN Sep 14        1,241
Dec 08         451 175%
Covenant Health Knoxville TN Sep 14        1,072
Dec 08         614 75%
Community Health Systems (Publicly-held Co) Franklin TN Sep 14        3,970
Dec 08      1,673 137%
LifePoint Hospitals (Publicly-held Co) Brentwood TN Sep 14        2,209
Dec 08      1,656 33%
Amsurg (Publicly-held Co) Nashville TN Sep 14        2,058
Dec 08         463 344%
HCA (Publicly-held Co) Nashville TN Dec 14      (6,498)
Dec 08     (9,260) 25%
Houston Methodist Houston TX Sep 14        4,826
Dec 08      2,375 103%
Texas Health Resources Arlington TX Sep 14        4,215
Dec 08      1,921 119%
Baylor Scott & White Health Dallas TX Sep 14        4,710
Jun 09      2,166 117%
Texas Children's Hospital Houston TX Sep 14        3,270
Sep 09      2,088 57%
Christus Health Irving TX Sep 14        2,782
Jun 09      2,119 31%
Memorial Hermann Healthcare System Houston TX Sep 14        2,634
Jun 09      1,509 75%
Cook Children's Health Fort Worth TX Sep 14        2,033
Sep 09         840 142%
Children's Medical Center of Dallas Dallas TX Sep 14        1,839
Dec 08         821 124%
Methodist Health System Dallas TX Jun 14        1,236
Sep 09         627 97%
Baylor College of Medicine Houston TX Dec 14        1,197
Jun 09         965 24%
Dallas County Hospital (Parkland) Dallas TX Jun 14        1,359
Sep 09         962 41%
IHC Health Services Salt Lake City UT Sep 14        5,658
Dec 08      1,582 258%
Inova Health System Falls Church VA Sep 14        4,429
Dec 08      1,885 135%
Sentara HealthCare Norfolk VA Sep 14        3,966
Dec 08      1,489 166%
Virginia Commonwealth Univ Health Richmond VA Sep 14        1,686
Jun 09         756 123%
Providence Health Renton WA Sep 14        8,178
Dec 08      3,911 109%
Seattle Children's Healthcare Seattle WA Sep 14        2,161
Sep 09      1,195 81%
MultiCare Health System Tacoma WA Sep 14        1,943
Dec 08         650 199%
PeaceHealth Vancouver WA Sep 14        1,795
Jun 09         897 100%
Froedtert Health Milwaukee WI Sep 14        1,556
Jun 09         824 89%
Medical College Wisconsin Milwaukee WI Sep 14        1,339
Jun 09         808 66%
Ministry Health Care Milwaukee WI Sep 14        1,197
Sep 09         730 64%
Children's Hospital and Health System Milwaukee WI Sep 14        1,173
Dec 08         460 155%
Aurora Health Care Milwaukee WI Sep 14        1,745
Dec 08         546 220%
Wheaton Franciscan Health Glendale WI Sep 14        1,071
Jun 09         704 52%
West Virginia United Health System Fairmont WV Sep 14        1,084
Dec 08         608 78%









Total all 165


    448,931

   211,382 112%

The single number that will determine by far more than any other one number just how successful the Affordable Care Act (ACA) will turn out to be in the long run is the Hospital Net Asset (Financial Strength) amount and its change over time.  This Hospital Net Asset number and its change over time has already driven and will continue to drive how expensive health insurance premiums will be, including insurance premiums on the both the US Federal and the many US State Health Insurance Exchanges under the ACA.  And this Hospital Net Asset number and its change over time has already driven and will also continue to drive the Total US Health Care Cost Curve.

As you can see from the above chart, the Total Net Assets (Financial Strength) of these 165 largest US Hospital Organizations totaled a huge $448.9 bil, up a massive 112% from such Total Net Asset amounts of $211.4 bil at their fiscal year ends which included the 2008-09 US Financial Meltdown.  This is a very good sign for just how successful the ACA has been so far and also how very successful it will turn out to be in the long run.

With such incredibly impressive Hospital Net Asset percentage increases all throughout the US, a key beneficiary of this will be US citizens who have elected or will be electing to buy health insurance on the US Federal and US States Health Insurance Exchanges.  This superb Net Asset growth has given and will continue to give these US 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 Exchanges.