Sunday, February 15, 2015

Washington State Non-Profit Hospital Net Assets (Financial Strength) Up 98% Since 2008 Financial Meltdown ..... The Main Reason Health Insurance Premiums Are Now Reasonable on Health Insurance Exchange

From a review of the Electronic Municipal Market Access (EMMA), I found 8 Non-Profit Hospital Organizations all headquartered in the State of Washington 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 8 Washington State 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

Providence Health Renton WA Sep 14     8,178
Dec 08      3,911 109%
Seattle Children's Healthcare Seattle WA Dec 14     2,207
Sep 09      1,195 85%
MultiCare Health System Tacoma WA Dec 14     1,861
Dec 08         650 186%
PeaceHealth Vancouver WA Dec 14     1,827
Jun 09         897 104%
Univ Washington Med Center Seattle WA Jun 14        683
Jun 09         495 38%
Harborview Medical Center Seattle WA Jun 14        616
Jun 09         662 -7%
Overlake Hospital Association Bellevue WA Dec 14        443
Jun 09         199 123%
Virginia Mason Medical Center Seattle WA Dec 14        416
Dec 08         195 113%

Total all 8


      8,204 98%

As you can see from the above chart, the Total Net Assets (Financial Strength) of these 8 largest Washington State Hospital Organizations totaled $16,231 mil, up an impressive 98% from such Total Net Asset amounts of $8,204 mil at their fiscal year ends which included the 2008-09 US Financial Meltdown.

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