A new analysis of Pennsylvania hospitals' financial health reveals many of the state's general acute care facilities experienced positive operating and total margins in fiscal year 2015.
However, 49 Pennsylvania hospitals reported a negative operating margin in FY 2015, and 46 lost money overall.
The analysis, released Thursday by the Pennsylvania Health Care Cost Containment Council, looked at 170 licensed general acute care hospitals in Pennsylvania that operated during at least some portion of FY 2015. There were 171 general acute care hospitals operating during the prior year. Westfield Hospital in Allentown, Pa., closed between reporting periods.
Here are eight key points from the analysis.
1. The statewide total margin realized by general acute care hospitals in Pennsylvania decreased by 0.01 percentage points, from 5.66 percent to 5.65 percent during FY 2015. The statewide operating margin increased 1.21 percentage points, from 4.25 percent to 5.46 percent.
2. The statewide operating income for Pennsylvania general acute care hospitals increased 34.7 percent, from $1.7 billion in FY 2014 to $2.3 billion in FY 2015.
3. The analysis also found that the statewide total number of patient days declined for the eighth consecutive year at Pennsylvania general acute care hospitals, from 8.35 million in FY 2014 to 8.22 million in FY 2015.
4. Statewide inpatient revenue at Pennsylvania general acute care hospitals increased 4 percent during FY 2015, from $20.8 billion in FY 2014 to $21.6 billion in FY 2015.
5. Operating revenue at Pennsylvania general acute care hospitals increased 5 percent year over year to $42.5 billion in FY 2015. Operating expenses climbed to $40.2 billion in FY 2015, up 3.7 percent from the year prior.
6. Of the $40.2 billion in statewide net patient revenue, 53.7 percent was derived from inpatient care.
7. Pennsylvania general acute care hospitals reported 38.6 million outpatient visits in FY 2015, a 2.5 percent increase from the year prior.
8. Outpatient revenue at Pennsylvania general acute care hospitals increased 6 percent during FY 2015, rising to $18.4 billion.
More articles on finance and revenue cycle management:
Children's Medical Center Dallas chooses CallidusCloud's RCM suite
Joliet Radiological contracts with McKesson for RCM services
Mosaic Life Care approves $16.9M in debt forgiveness