For many nonprofit health systems, the 2013 fiscal year ended June 30. Several observations can be gleaned from their annual financial statements.
For example, of a sample of 35 nonprofit health systems that recently wrapped up FY 2013, total revenue at most organizations generally increased. However, operating income was mostly down from 2012. For the nine health systems that posted gains in operating income, labor spend and supply expenses were managed more efficiently year-over-year.
Overall, 33 of the 35 observed health systems posted a total profit in FY 2013 despite the slowdown in operating income. Many health systems have seen marked improvements in their investment gains, and others have begun to reap the financial benefits of consolidation, according to analysis of the financial statements.
Here are three primary data points for each of 35 health systems that recently posted consolidated financial statements from their 2013 fiscal years.
Note: Data comes directly from financial statements posted on the Municipal Securities Rulemaking Board's EMMA. Health systems listed posted their statements within the past month and have at least $400 million in total revenue. They are listed by highest to lowest total revenue. Total profit/loss figures are based on the health system's excess of revenue over/under expenses, which generally includes investment gains/losses, income taxes and debt/interest rate swaps. Total profit/loss figures are not the health system's increase/decrease in unrestricted net assets, which include pension plan funds and other variables.
Dignity Health (San Francisco)
FY 2013 revenue: $10.41 billion — 9.6 percent increase from 2012
FY 2013 operating profit: $284 million — 361 percent increase from 2012
FY 2013 total profit: $811.9 million — 502 percent increase from 2012
Trinity Health (Livonia, Mich.)
FY 2013 revenue: $8.98 billion — 6 percent increase from 2012
FY 2013 operating profit: $304.8 million — 12.9 percent increase from 2012
FY 2013 total profit: $655.9 million — 82.8 percent increase from 2012
The Johns Hopkins Health System (Baltimore)
FY 2013 revenue: $4.96 billion — 6.8 percent increase from 2012
FY 2013 operating profit: $175.8 million — 15.7 percent decrease from 2012
FY 2013 total profit: $339 million — recorded $22 million total loss in 2012
Christus Health (Irving, Texas)
FY 2013 revenue: $3.7 billion — 2.9 percent increase from 2012
FY 2013 operating profit: $73.1 million — 35.1 percent increase from 2012
FY 2013 total profit: $142.5 million — recorded $54 million total loss in 2012
Memorial Hermann Health System (Houston)
FY 2013 revenue: $3.58 billion — 6.8 percent increase from 2012
FY 2013 operating profit: $165.9 million — 14.6 percent decrease from 2012
FY 2013 total profit: $142.6 million — 12.3 percent increase from 2012
Bon Secours Health System (Marriottsville, Md.)
FY 2013 revenue: $3.36 billion — 4.7 percent increase from 2012
FY 2013 operating profit: $123.9 million — 5 percent increase from 2012
FY 2013 total profit: $170.9 million — 48.7 percent increase from 2012
Sanford Health (Sioux Falls, S.D.)
FY 2013 revenue: $3.11 billion — 23.4 percent increase from 2012
FY 2013 operating profit: $30.8 million — 61.1 percent decrease from 2012
FY 2013 total profit: $133.6 million — 46.2 percent increase from 2012
Jefferson Health System (Philadelphia)
FY 2013 revenue: $3.05 billion — 1 percent increase from 2012
FY 2013 operating profit: $238.9 million — 7.3 percent increase from 2012
FY 2013 total profit: $304.3 million — 30.8 percent increase from 2012
University of Maryland Medical System (Baltimore)
FY 2013 revenue: $2.57 billion — 8.5 percent increase from 2012
FY 2013 operating loss: $13.8 million — recorded $71.7 million operating profit in 2012
FY 2013 total profit: $84.2 million — recorded $23 million total loss in 2012
Duke University Health System (Durham, N.C.)
FY 2013 revenue: $2.54 billion — 2.5 percent increase from 2012
FY 2013 operating profit: $184.1 million — 28 percent decrease from 2012
FY 2013 total profit: $439.9 million — 155 percent increase from 2012
OhioHealth (Columbus)
FY 2013 revenue: $2.53 billion — 6.6 percent increase from 2012
FY 2013 operating profit: $215.2 million — 6.1 percent decrease from 2012
FY 2013 total profit: $380.5 million — 63.2 percent increase from 2012
PeaceHealth (Vancouver, Wash.)
FY 2013 revenue: $2.2 billion — 0.7 percent decrease from 2012
FY 2013 operating profit: $9.8 million — 71.5 percent decrease from 2012
FY 2013 total profit: $96.4 million — recorded $43.3 million total loss in 2012
MemorialCare Health System (Fountain Valley, Calif.)
FY 2013 revenue: $2.09 billion — 16.4 percent increase from 2012
FY 2013 operating profit: $138.9 million — 69.1 percent increase from 2012
FY 2013 total profit: $198.3 million — 145 percent increase from 2012
Hospital Sisters Health System (Springfield, Ill.)
FY 2013 revenue: $2 billion — 4 percent increase from 2012
FY 2013 operating profit: $21.6 million — 7,310 percent increase from 2012
FY 2013 total profit: $167.9 million — recorded $11.9 million total loss in 2012
Wake Forest Baptist Medical Center (Winston-Salem, N.C.)
FY 2013 revenue: $1.9 billion — 2.9 percent decrease from 2012
FY 2013 operating loss: $56.6 million — recorded $45.8 million operating profit in 2012
FY 2013 total loss: $4.5 million — recorded $88.7 million total profit in 2012
Wheaton Franciscan Healthcare (Glendale, Wis.)
FY 2013 revenue: $1.76 billion — 2.3 percent increase from 2012
FY 2013 operating profit: $39.5 million — 9.4 percent decrease from 2012
FY 2013 total profit: $68.6 million — 64.5 percent increase from 2012
Essentia Health (Duluth, Minn.)
FY 2013 revenue: $1.65 billion — 6.6 percent increase from 2012
FY 2013 operating profit: $29.4 million — 10.6 percent decrease from 2012
FY 2013 total profit: $93.3 million — 554 percent increase from 2012
Lehigh Valley Health Network (Allentown, Pa.)
FY 2013 revenue: $1.56 billion — 3.1 percent increase from 2012
FY 2013 operating profit: $33 million — 60.2 percent decrease from 2012
FY 2013 total profit: $59.9 million — 54.8 percent decrease from 2012
West Penn Allegheny Health System (Pittsburgh)
FY 2013 revenue: $1.49 billion — 0.3 percent increase from 2012
FY 2013 operating loss: $153.1 million — 33.3 percent increase from 2012
FY 2013 total loss: $137.6 million — 62.3 percent increase from 2012
Temple University Health System (Philadelphia)
FY 2013 revenue: $1.36 billion — 37 percent increase from 2012
FY 2013 operating loss: $18.2 million — 22.3 percent increase from 2012
FY 2013 total profit: $8.1 million — 16.3 percent increase from 2012
Integris Health (Oklahoma City)
FY 2013 revenue: $1.33 billion — 0.5 percent decrease from 2012
FY 2013 operating profit: $41.3 million — 6.9 percent decrease from 2012
FY 2013 total profit: $97.4 million — 86.1 percent increase from 2012
University of Cincinnati Health
FY 2013 revenue: $1.21 billion — 4.4 percent increase from 2012
FY 2013 operating loss: $8 million — recorded $32.8 million operating profit in 2012
FY 2013 total profit: $26.3 million — 84 percent decrease from 2012
Hawaii Pacific Health (Honolulu)
FY 2013 revenue: $1.02 billion — 13 percent increase from 2012
FY 2013 operating profit: $92.1 million — 31 percent increase from 2012
FY 2013 total profit: $110.2 million — 50.8 percent increase from 2012
CentraCare Health (St. Cloud, Minn.)
FY 2013 revenue: $938.1 million — 8.8 percent increase from 2012
FY 2013 operating profit: $47.1 million — 5.8 percent decrease from 2012
FY 2013 total profit: $146 million — 1,210 percent increase from 2012
Reading (Pa.) Health System
FY 2013 revenue: $913 million — 4.6 percent increase from 2012
FY 2013 operating profit: $20.8 million — 39.6 percent decrease from 2012
FY 2013 total profit: $109.5 million — 741 percent increase from 2012
Wellmont Health System (Kingsport, Tenn.)
FY 2013 revenue: $798.2 million — 1.2 percent increase from 2012
FY 2013 operating profit: $12.9 million — 42.4 percent decrease from 2012
FY 2013 total profit: $31.4 million — 21.2 percent decrease from 2012
The Christ Hospital Health Network (Cincinnati)
FY 2013 revenue: $761.5 million — 11.8 percent increase from 2012
FY 2013 operating profit: $19.3 million — 14.2 percent increase from 2012
FY 2013 total profit: $11.3 million — 6 percent increase from 2012
Rex Healthcare (Raleigh, N.C.)
FY 2013 revenue: $731.4 million — 3.5 percent increase from 2012
FY 2013 operating profit: $45.2 million — 13.2 percent decrease from 2012
FY 2013 total profit: $46 million — 8.4 percent decrease from 2012
Anne Arundel Health System (Annapolis, Md.)
FY 2013 revenue: $572.4 million — 3.1 percent increase from 2012
FY 2013 operating profit: $2.8 million — 73.7 percent decrease from 2012
FY 2013 total profit: $43 million — recorded $35.1 million total loss in 2012
Genesis Health System (Davenport, Iowa)
FY 2013 revenue: $552.5 million — 4.1 percent increase from 2012
FY 2013 operating profit: $17.3 million — 50 percent increase from 2012
FY 2013 total profit: $38.8 million — 166 percent increase from 2012
Northern Arizona Healthcare (Flagstaff)
FY 2013 revenue: $535 million — 3.4 percent increase from 2012
FY 2013 operating profit: $30 million — 39.5 percent decrease from 2012
FY 2013 total profit: $31.4 million — 21.2 percent decrease from 2012
Conemaugh Health System (Johnstown, Pa.)
FY 2013 revenue: $515.7 million — 1.2 percent increase from 2012
FY 2013 operating profit: $11.2 million — 32.5 percent decrease from 2012
FY 2013 total profit: $33.1 million — 31.2 percent increase from 2012
Bayhealth (Dover, Del.)
FY 2013 revenue: $482.4 million — 7 percent increase from 2012
FY 2013 operating profit: $38.3 million — 0.2 percent decrease from 2012
FY 2013 total profit: $73.9 million — 70.7 percent increase from 2012
Owensboro (Ky.) Health
FY 2013 revenue: $428.8 million — 2 percent increase from 2012
FY 2013 operating loss: $20.2 million — recorded $25.7 million operating profit in 2012
FY 2013 total profit: $47,000 — 99.8 percent decrease from 2012
MaineGeneral Health (Augusta)
FY 2013 revenue: $423.3 million — 1.4 percent increase from 2012
FY 2013 operating profit: $10.6 million — 28 percent decrease from 2012
FY 2013 total profit: $15.7 million — recorded $2.2 million total loss in 2012
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