More audited financial statements of nonprofit health systems from fiscal year 2013 continue to roll in, showing that many of the big players continue to perform reasonably well considering the shifts occurring in the marketplace.
Of a sample of 45 nonprofit health systems that recently wrapped up FY 2013, total revenue at a vast majority of organizations increased. However, operating income was mostly down from 2012, though not necessarily to a crippling degree.
Overall, a little more than half of the observed health systems (23) posted a profit margin of at least 3 percent, despite lagging volumes and rising expenses. As noted from October, many health systems also have been able to improve their overall financial standing due to sizable investment gains, while others have begun to reap the benefits of consolidation, according to analysis of the financial statements.
Here are three primary financial figures for each of 45 health systems that recently posted consolidated statements from their 2013 fiscal years.
Note: Data comes directly from financial statements posted on the Municipal Securities Rulemaking Board's EMMA. The listed health systems posted their statements within the past couple months (with a FY end date of either Sept. 30, 2013, or Dec. 31, 2013), and they also have at least $500 million in total revenue. Systems 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.
Kaiser Permanente (Oakland, Calif.)
FY 2013 revenue: $53.1 billion — 5.9 percent increase from 2012
FY 2013 operating profit: $1.8 billion — 5.6 percent increase from 2012
FY 2013 total profit: $2.7 billion — 3.4 percent increase from 2012
Providence Health & Services (Renton, Wash.)
FY 2013 revenue: $11.1 billion — 5 percent increase from 2012
FY 2013 operating profit: $37.7 million — 81.5 percent decrease from 2012
FY 2013 total profit: $253.3 million — 79.2 percent decrease from 2012
Partners HealthCare (Boston)
FY 2013 revenue: $10.3 billion — 15.2 percent increase from 2012
FY 2013 operating profit: $157.6 million — 17.4 percent decrease from 2012
FY 2013 total profit: $600 million — 70.3 percent increase from 2012
Sutter Health (Sacramento, Calif.)
FY 2013 revenue: $9.6 billion — 0.9 percent increase from 2012
FY 2013 operating loss: $22 million — recorded $549 million operating profit in 2012
FY 2013 total profit: $300 million — 59.2 percent decrease from 2012
Mayo Clinic (Rochester, Minn.)
FY 2013 revenue: $9.4 billion — 6.5 percent increase from 2012
FY 2013 operating profit: $612.1 million — 87.2 percent increase from 2012
FY 2013 total profit: $1.2 billion — 37.9 percent increase from 2012
Adventist Health System (Altamonte Springs, Fla.)
FY 2013 revenue: $7.6 billion — 3.4 percent increase from 2012
FY 2013 operating profit: $500.4 million — 2.4 percent decrease from 2012
FY 2013 total profit: $578.8 million — 14.6 percent increase from 2012
Cleveland Clinic
FY 2013 revenue: $6.5 billion — 4.3 percent increase from 2012
FY 2013 operating profit: $294 million — 87.2 percent increase from 2012
FY 2013 total profit: $900 million — 46.7 percent increase from 2012
Indiana University Health (Indianapolis)
FY 2013 revenue: $5.2 billion — 5.9 percent decrease from 2012
FY 2013 operating profit: $323.6 million — 41 percent decrease from 2012
FY 2013 total profit: $448 million — 31.2 percent decrease from 2012
Banner Health (Phoenix)
FY 2013 revenue: $5.1 billion — 4.5 percent increase from 2012
FY 2013 operating profit: $254.1 million — 12.2 percent decrease from 2012
FY 2013 total profit: $815.5 million — 39.8 percent increase from 2012
Intermountain Healthcare (Salt Lake City)
FY 2013 revenue: $5 billion — 7.3 percent increase from 2012
FY 2013 operating profit: $394.9 million — 5.4 percent decrease from 2012
FY 2013 total profit: $766.3 million — 20.5 percent increase from 2012
Advocate Health Care (Downers Grove, Ill.)
FY 2013 revenue: $4.9 billion — 7.4 percent increase from 2012
FY 2013 operating profit: $300.2 million — 0.6 percent increase from 2012
FY 2013 total profit: $765.3 million — 13.9 percent increase from 2012
BJC HealthCare (St. Louis)
FY 2013 revenue: $3.9 billion — 1.5 percent increase from 2012
FY 2013 operating profit: $146 million — 10.3 percent decrease from 2012
FY 2013 total profit: $490.5 million — 35.5 percent increase from 2012
Novant Health (Charlotte, N.C.)
FY 2013 revenue: $3.6 billion — 1.1 percent increase from 2012
FY 2013 operating profit: $109.8 million — 40.6 percent decrease from 2012
FY 2013 total profit: $273 million — 0.2 percent decrease from 2012
Allina Health (Minneapolis)
FY 2013 revenue: $3.4 billion — 4.3 percent increase from 2012
FY 2013 operating profit: $133.4 million — 4.2 percent increase from 2012
FY 2013 total profit: $326.5 million — 62.8 percent increase from 2012
BayCare Health System (Clearwater, Fla.)
FY 2013 revenue: $2.6 billion — 5.9 percent increase from 2012
FY 2013 operating profit: $184.2 million — 7.5 percent decrease from 2012
FY 2013 total profit: $631.8 million — 49.5 percent increase from 2012
Inova Health System (Falls Church, Va.)
FY 2013 revenue: $2.5 billion — 7.5 percent increase from 2012
FY 2013 operating profit: $131.8 million — 35.9 percent decrease from 2012
FY 2013 total profit: $662.5 million — 82.5 percent increase from 2012
McLaren Health Care (Flint, Mich.)
FY 2013 revenue: $2.5 billion — 11.9 percent increase from 2012
FY 2013 operating profit: $65.5 million — 9 percent increase from 2012
FY 2013 total profit: $185.5 million — 23.8 percent decrease from 2012
Hartford (Conn.) HealthCare
FY 2013 revenue: $2.1 billion — 1.8 percent increase from 2012
FY 2013 operating loss: $34.8 million — recorded $60.6 million operating profit in 2012
FY 2013 total profit: $346.3 million — 168 percent increase from 2012
Catholic Health Services of Long Island (Rockville Centre, N.Y.)
FY 2013 revenue: $2.1 billion — 1.9 percent increase from 2012
FY 2013 operating profit: $18.9 million — 64.1 percent decrease from 2012
FY 2013 total profit: $44.6 million — 16.3 percent decrease from 2012
Baptist Memorial Health Care (Memphis, Tenn.)
FY 2013 revenue: $1.9 billion — 3.3 percent increase from 2012
FY 2013 operating loss: $70.9 million — 56.6 percent increase from 2012
FY 2013 total profit: $20.5 million — 54.4 percent decrease from 2012
Beth Israel Deaconess Medical Center (Boston)
FY 2013 revenue: $1.9 billion — 3.8 percent increase from 2012
FY 2013 operating profit: $51.5 million — 60.1 percent increase from 2012
FY 2013 total profit: $109.5 million — 2.8 percent decrease from 2012
NorthShore University HealthSystem (Evanston, Ill.)
FY 2013 revenue: $1.8 billion — 3.4 percent increase from 2012
FY 2013 operating profit: $60.5 million — 27.1 percent decrease from 2012
FY 2013 total profit: $126 million — 34.4 percent decrease from 2012
Baystate Health (Springfield, Mass.)
FY 2013 revenue: $1.7 billion — 5.1 percent increase from 2012
FY 2013 operating profit: $50.2 million — 7.6 percent increase from 2012
FY 2013 total profit: $71.5 million — 22.7 percent decrease from 2012
Lifespan (Providence, R.I.)
FY 2013 revenue: $1.7 billion — 3.7 percent increase from 2012
FY 2013 operating loss: $19.3 million — recorded $17.9 million operating profit in 2012
FY 2013 total profit: $17 million — 59 percent decrease from 2012
Fletcher Allen Health Care (Burlington, Vt.)
FY 2013 revenue: $1.5 billion — 31.3 percent increase from 2012
FY 2013 operating profit: $43.8 million — 50.6 percent increase from 2012
FY 2013 total profit: $142.4 million — 35.6 percent increase from 2012
St. Luke's Health System (Boise, Idaho)
FY 2013 revenue: $1.4 billion — 7.8 percent increase from 2012
FY 2013 operating profit: $15.2 million — 77.4 percent decrease from 2012
FY 2013 total profit: $19.6 million — 72.9 percent decrease from 2012
Carilion Clinic (Roanoke, Va.)
FY 2013 revenue: $1.4 billion — 8.3 percent increase from 2012
FY 2013 operating profit: $20.3 million — 51.4 percent increase from 2012
FY 2013 total profit: $143 million — 102 percent increase from 2012
Meridian Health (Neptune, N.J.)
FY 2013 revenue: $1.4 billion — 2.6 percent increase from 2012
FY 2013 operating profit: $61.5 million — 16.6 percent increase from 2012
FY 2013 total profit: $120.4 million — 86.1 percent increase from 2012
Lee Memorial Health System (Fort Myers, Fla.)
FY 2013 revenue: $1.3 billion — 3.6 percent increase from 2012
FY 2013 operating profit: $63.5 million — 39.9 percent increase from 2012
FY 2013 total profit: $119.9 million — 64.8 percent increase from 2012
CoxHealth (Springfield, Mo.)
FY 2013 revenue: $1.2 billion — 13.4 percent increase from 2012
FY 2013 operating profit: $12 million — 53.9 percent decrease from 2012
FY 2013 total profit: $105.4 million — 56.4 percent increase from 2012
Oakwood Healthcare (Dearborn, Mich.)
FY 2013 revenue: $1.2 billion — 2.8 percent decrease from 2012
FY 2013 operating profit: $23.8 million — 11.6 percent increase from 2012
FY 2013 total profit: $65.7 million — 66.1 percent increase from 2012
Seattle Children's
FY 2013 revenue: $1 billion — 5.2 percent increase from 2012
FY 2013 operating profit: $128 million — 12.1 percent decrease from 2012
FY 2013 total profit: $186.7 million — 7.4 percent decrease from 2012
Boston Medical Center
FY 2013 revenue: $1 billion — 3.8 percent increase from 2012
FY 2013 operating profit: $7 million — 173 percent increase from 2012
FY 2013 total profit: $20 million — 127 percent increase from 2012
Westchester Medical Center (Valhalla, N.Y.)
FY 2013 revenue: $918.8 million — 2.8 percent increase from 2012
FY 2013 operating profit: $26.1 million — 33.7 percent increase from 2012
FY 2013 total profit: $6.3 million — 598 percent increase from 2012
Beacon Health System (South Bend, Ind.)
FY 2013 revenue: $820.9 million — 7.4 percent decrease from 2012
FY 2013 operating profit: $50.8 million — 57.7 percent decrease from 2012
FY 2013 total profit: $89.8 million — 50.7 percent decrease from 2012
Spartanburg (S.C.) Regional Healthcare System
FY 2013 revenue: $797.5 million — 6.7 percent increase from 2012
FY 2013 operating profit: $21.2 million — 8.7 percent increase from 2012
FY 2013 total profit: $18.3 million — 12.7 percent decrease from 2012
Saint Francis Care (Hartford, Conn.)
FY 2013 revenue: $784.1 million — 2 percent increase from 2012
FY 2013 operating profit: $10.5 million — 38.3 percent decrease from 2012
FY 2013 total profit: $32.7 million — 453 percent increase from 2012
Samaritan Health Services (Corvallis, Ore.)
FY 2013 revenue: $766.9 million — 5 percent increase from 2012
FY 2013 operating loss: $9.7 million — recorded $4.5 million operating profit in 2012
FY 2013 total loss: $4.7 million — recorded $13.5 million total profit in 2012
Memorial Health System (Springfield, Ill.)
FY 2013 revenue: $760 million — 0.7 percent increase from 2012
FY 2013 operating profit: $40.6 million — 23.7 percent decrease from 2012
FY 2013 total profit: $78.7 million — 15.5 percent decrease from 2012
ProHealth Care (Waukesha, Wis.)
FY 2013 revenue: $679.9 million — 1.6 percent increase from 2012
FY 2013 operating profit: $28.8 million — 13.4 percent decrease from 2012
FY 2013 total profit: $95.8 million — 14.6 percent increase from 2012
Cape Cod Healthcare (Hyannis, Mass.)
FY 2013 revenue: $673.7 million — 1 percent decrease from 2012
FY 2013 operating profit: $25.7 million — 42.8 percent decrease from 2012
FY 2013 total profit: $37.4 million — 29.3 percent decrease from 2012
University Health System (Knoxville, Tenn.)
FY 2013 revenue: $631.4 million — 9.9 percent increase from 2012
FY 2013 operating profit: $5 million — 31.6 percent increase from 2012
FY 2013 total profit: $8.9 million — 54.1 percent decrease from 2012
PIH Health (Whittier, Calif.)
FY 2013 revenue: $624.1 million — 6.8 percent increase from 2012
FY 2013 operating profit: $26.6 million — 18.9 percent decrease from 2012
FY 2013 total profit: $59.4 million — 71.3 percent increase from 2012
St. Charles Health System (Bend, Ore.)
FY 2013 revenue: $556.9 million — 10.3 percent decrease from 2012
FY 2013 operating profit: $11.9 million — 43 percent decrease from 2012
FY 2013 total profit: $72.3 million — 49.3 percent increase from 2012
Stormont-Vail HealthCare (Topeka, Kan.)
FY 2013 revenue: $519.1 million — 2.6 percent decrease from 2012
FY 2013 operating profit: $18.8 million — 43 percent decrease from 2012
FY 2013 total profit: $28.7 million — 49.7 percent decrease from 2012
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