Nevada acute-care hospitals posted a profit margin of 2.8 percent in 2012 after reporting statewide net losses in each of the previous four years, according to a report from the Nevada Department of Health and Human Services.
The report, which comes from the department's Division of Health Care Financing and Policy, showed that Nevada hospitals earned more than $131.9 million on $4.7 billion in revenue. In 2008, state hospitals posted a cumulative margin of -0.81 percent, and that margin stayed in the red each year until 2012.
Nevada's most profitable hospital was Northeastern Nevada Regional Hospital in Elko, which posted more than $41 million in profit last year. Brentwood, Tenn.-based LifePoint Hospitals owns NNRH. Saint Mary's Regional Medical Center in Reno, which was sold to Ontario, Calif.-based Prime Healthcare Services by San Francisco-based Dignity Health, posted the biggest loss of any Nevada hospital in 2012 at $64.7 million.
Two other large for-profit hospital operators have a strong hold in Nevada. King of Prussia, Pa.-based Universal Health Services operates six acute-care hospitals in the state, while Nashville, Tenn.-based Hospital Corporation of America owns three.
More Articles on Hospital Finance:
Pennsylvania Hospitals Post 5.6% Operating Margin in 2012
35 Nonprofit Health Systems That Recently Posted FY 2013 Financials
S&P: Financial Profiles of Lower-Rated, Small Hospitals Will Weaken