Several major hospitals and health systems in Ohio's Columbus metropolitan area have accrued roughly $3 billion in cash reserves, signaling strength in their ability to maintain a cash flow, according to a Columbus Dispatch report.
OhioHealth, which includes six hospitals throughout central Ohio, had roughly $1.9 billion in cash reserves at the end of fiscal year 2010, or about 365 days cash on hand, according to the report. The median days cash on hand among similarly sized institutions rated by Fitch Ratings was 215.
Nationwide Children's Hospital had roughly 188 days cash on hand ($551 million), while the Wexner Medical Center at The Ohio State University had much less at 66 days cash on hand ($285 million). However, all of the cash reserves figures are higher than previous years, as hospitals in the area are looking to boost their rainy day funds to offset uncertainties in Medicare and Medicaid reimbursements and the healthcare reform law, according to the report.
OhioHealth, which includes six hospitals throughout central Ohio, had roughly $1.9 billion in cash reserves at the end of fiscal year 2010, or about 365 days cash on hand, according to the report. The median days cash on hand among similarly sized institutions rated by Fitch Ratings was 215.
Nationwide Children's Hospital had roughly 188 days cash on hand ($551 million), while the Wexner Medical Center at The Ohio State University had much less at 66 days cash on hand ($285 million). However, all of the cash reserves figures are higher than previous years, as hospitals in the area are looking to boost their rainy day funds to offset uncertainties in Medicare and Medicaid reimbursements and the healthcare reform law, according to the report.
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