Being at the tail-end of investment grade could pose some borrowing problems for hospitals and health systems, but there are still many opportunities to improve balance sheets and establish sound financing plans.
Moody's Investors Service has 10 levels of investment-grade long-term ratings, ranging from a high of "Aaa" down to "Baa3." Many small hospitals and health systems sit within the three subcategories of "Baa" ratings: "Baa1," "Baa2" and "Baa3."
Here are 39 statistics on various hospital metrics from Moody's. Note: All data are medians from 2011 and are for only the three subcategories of "Baa" ratings. Moody's data reflects standalone hospitals and single-state health systems in its portfolio.
Hospitals rated "Baa1"
Sample size: 47
Maintained beds: 331
Outpatient surgeries: 9,151
Net patient revenue: $506.3 million
Total operating revenue: $519.5 million
Excess of revenue over expenses: $22.4 million
Net fixed assets: $212.4 million
Operating margin: 1.7 percent
Operating cash flow margin: 7.9 percent
Days cash on hand: 133
Accounts receivable: 45 days
Debt-to-capitalization: 47.7 percent
Average age of plant: 11.1 years
Hospitals rated "Baa2"
Sample size: 42
Maintained beds: 245
Outpatient surgeries: 7,345
Net patient revenue: $261.6 million
Total operating revenue: $280.8 million
Excess of revenue over expenses: $7.3 million
Net fixed assets: $156.2 million
Operating margin: 1.5 percent
Operating cash flow margin: 8.8 percent
Days cash on hand: 124.9
Accounts receivable: 43.1 days
Debt-to-capitalization: 50.4 percent
Average age of plant: 11.2 years
Hospitals rated "Baa3"
Sample size: 20
Maintained beds: 208
Outpatient surgeries: 6,108
Net patient revenue: $221.9 million
Total operating revenue: $246.6 million
Excess of revenue over expenses: $8.5 million
Net fixed assets: $113.8 million
Operating margin: 1.6 percent
Operating cash flow margin: 8.4 percent
Days cash on hand: 108.5
Accounts receivable: 41.9 days
Debt-to-capitalization: 49.4 percent
Average age of plant: 10.4 years
Moody's Investors Service has 10 levels of investment-grade long-term ratings, ranging from a high of "Aaa" down to "Baa3." Many small hospitals and health systems sit within the three subcategories of "Baa" ratings: "Baa1," "Baa2" and "Baa3."
Here are 39 statistics on various hospital metrics from Moody's. Note: All data are medians from 2011 and are for only the three subcategories of "Baa" ratings. Moody's data reflects standalone hospitals and single-state health systems in its portfolio.
Hospitals rated "Baa1"
Sample size: 47
Maintained beds: 331
Outpatient surgeries: 9,151
Net patient revenue: $506.3 million
Total operating revenue: $519.5 million
Excess of revenue over expenses: $22.4 million
Net fixed assets: $212.4 million
Operating margin: 1.7 percent
Operating cash flow margin: 7.9 percent
Days cash on hand: 133
Accounts receivable: 45 days
Debt-to-capitalization: 47.7 percent
Average age of plant: 11.1 years
Hospitals rated "Baa2"
Sample size: 42
Maintained beds: 245
Outpatient surgeries: 7,345
Net patient revenue: $261.6 million
Total operating revenue: $280.8 million
Excess of revenue over expenses: $7.3 million
Net fixed assets: $156.2 million
Operating margin: 1.5 percent
Operating cash flow margin: 8.8 percent
Days cash on hand: 124.9
Accounts receivable: 43.1 days
Debt-to-capitalization: 50.4 percent
Average age of plant: 11.2 years
Hospitals rated "Baa3"
Sample size: 20
Maintained beds: 208
Outpatient surgeries: 6,108
Net patient revenue: $221.9 million
Total operating revenue: $246.6 million
Excess of revenue over expenses: $8.5 million
Net fixed assets: $113.8 million
Operating margin: 1.6 percent
Operating cash flow margin: 8.4 percent
Days cash on hand: 108.5
Accounts receivable: 41.9 days
Debt-to-capitalization: 49.4 percent
Average age of plant: 10.4 years
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