Health Care Financials

[Gregory Matthews]

The October 14, 2006 edition of the ROCKY MOUNTAIN NEWS published an article on the health care financials of Denver Metro area hospitals. It contains some interesting information.

University of Colorado Hospital: A single hospital which in FY” 2005 lost 8.1 million dollars.

Children’s Hospital: A single hospital, which in FY 2005 lost 50 million dollars. In FY 2006, the legislature gave it a 2.75 million dollar grant.

Denver Health: This is a public hospital which provides a lot of charity medical care, and receives income from Denver and the State of Colorado. It has other profit making, health-care related sources of income.

Exempla: This is a three hospital chain, which in had reduced income in FY 2006 over what it had in FY 2005.

Centura: This is a 12 hospital chain which also includes 8 senior living facilities, and other health-care related sources of income. In FY 2006, net income rose 36 per-cent over FY 2005, and patient revenue rose 8 per-cent over FY 2005. Part of the FY 2006 increase was due to increased earnings form the stock market. Centura includes facilities that are Seventh-day Adventist Church as well as those that are Roman Catholic.

Net Patient Revenue: The total income from patient care services. It does not include income from other sources such as investment income, and the parking lot.

Net Income: The money either lost, or gained.

University of Colorado:

Fiscal year ended 6/2006.

Net Patient Revenue: 524 million dollars

Net Income: 40 million dollars

Net Operating Margin: 7.3 per-cent, 1.1 per-cent the previous year

Children’s Hospital:

Fiscal year ended 12/2005.

Net Patient Revenue: 340 million dollars

Net Income: 19 million dollars

Denver Health:

Fiscal year ended 12/2005.

Net patient Revenue: 214 million dollars

Net Income: 1 million dollars

Exempla:

Fiscal year ended 12/2005.

Net Patient Revenue: 774 million dollars

Net Income: 47 million dollars

Net Operating Margin: 4.9 per-cent and 8 per-cent the previous year

Centura:

Fiscal year ended 6/2006.

Net Patient Revenue: 1.4 billion dollars (yes, billion)

Net Income: 148 million dollars

Refused to release other figures.

Health-One: Refused to release financial figures.

It is believed to have had a Net Income of 221 million dollars in the current fiscal year up from 194 million dollars in the previous fiscal year.

Health care is big business, and complex—GM.

[Naomi]

Little wonder so many people suffer so much financial loss when faced with a serious illness.

Thanks Gregory for sharing this informaiton