Hospitals and health insurers in the Chicago area are showing strong and steady profitability, but statewide data show sharp consolidation trends as more hospitals join systems and some insurers gain greater market shares, according to an analysis of the Illinois healthcare market released by Allan Baumgarten of Research and Markets.
Here are 10 statistics to know about Illinois' healthcare market for providers and payors, as well as future expectations in light of the Patient Protection and Affordable Care Act.
1. Chicago-area hospital profit margins averaged 7.4 percent in both 2011 and 2010.
2. Hospitals in the area had net income of $1.54 billion, or 7.4 percent of the $20.8 billion in patient revenues.
3. Northwestern Memorial, University of Chicago and Advocate hospital systems were the Chicago region's most profitable.
4. Inpatient hospital utilization rates have been declining the past four years, falling 1.9 percent area-wide in 2011. The report notes this is especially problematic as systems have invested heavily in new facilities.
5. More hospitals across the state have joined systems, with the number of Chicago-area independent hospitals dropping from 40 to 28 in recent years.
6. In 2011, Illinois-based HMOs had $370.9 million in net income, 7.3 percent of their combined $5.06 billion in revenue.
7. HMO Illinois made up $300 million, or nearly 81 percent, of HMO income across the state, with Medicare plans also indicating strong profits.
8. HMO enrollment shrunk below 1.4 million, while Medicaid and Medicare plans are
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Here are 10 statistics to know about Illinois' healthcare market for providers and payors, as well as future expectations in light of the Patient Protection and Affordable Care Act.
1. Chicago-area hospital profit margins averaged 7.4 percent in both 2011 and 2010.
2. Hospitals in the area had net income of $1.54 billion, or 7.4 percent of the $20.8 billion in patient revenues.
3. Northwestern Memorial, University of Chicago and Advocate hospital systems were the Chicago region's most profitable.
4. Inpatient hospital utilization rates have been declining the past four years, falling 1.9 percent area-wide in 2011. The report notes this is especially problematic as systems have invested heavily in new facilities.
5. More hospitals across the state have joined systems, with the number of Chicago-area independent hospitals dropping from 40 to 28 in recent years.
6. In 2011, Illinois-based HMOs had $370.9 million in net income, 7.3 percent of their combined $5.06 billion in revenue.
7. HMO Illinois made up $300 million, or nearly 81 percent, of HMO income across the state, with Medicare plans also indicating strong profits.
8. HMO enrollment shrunk below 1.4 million, while Medicaid and Medicare plans are
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