35 Nonprofit Health Systems That Recently Posted FY 2013 Financials

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For many nonprofit health systems, the 2013 fiscal year ended June 30. Several observations can be gleaned from their annual financial statements.

For example, of a sample of 35 nonprofit health systems that recently wrapped up FY 2013, total revenue at most organizations generally increased. However, operating income was mostly down from 2012. For the nine health systems that posted gains in operating income, labor spend and supply expenses were managed more efficiently year-over-year.

Overall, 33 of the 35 observed health systems posted a total profit in FY 2013 despite the slowdown in operating income. Many health systems have seen marked improvements in their investment gains, and others have begun to reap the financial benefits of consolidation, according to analysis of the financial statements.

Here are three primary data points for each of 35 health systems that recently posted consolidated financial statements from their 2013 fiscal years.

Note: Data comes directly from financial statements posted on the Municipal Securities Rulemaking Board's EMMA. Health systems listed posted their statements within the past month and have at least $400 million in total revenue. They 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.

Dignity Health (San Francisco)
FY 2013 revenue: $10.41 billion — 9.6 percent increase from 2012
FY 2013 operating profit: $284 million — 361 percent increase from 2012
FY 2013 total profit: $811.9 million — 502 percent increase from 2012

Trinity Health (Livonia, Mich.)
FY 2013 revenue: $8.98 billion — 6 percent increase from 2012
FY 2013 operating profit: $304.8 million — 12.9 percent increase from 2012
FY 2013 total profit: $655.9 million — 82.8 percent increase from 2012

The Johns Hopkins Health System (Baltimore)
FY 2013 revenue: $4.96 billion — 6.8 percent increase from 2012
FY 2013 operating profit: $175.8 million — 15.7 percent decrease from 2012
FY 2013 total profit: $339 million — recorded $22 million total loss in 2012

Christus Health (Irving, Texas)
FY 2013 revenue: $3.7 billion — 2.9 percent increase from 2012
FY 2013 operating profit: $73.1 million — 35.1 percent increase from 2012
FY 2013 total profit: $142.5 million — recorded $54 million total loss in 2012

Memorial Hermann Health System (Houston)
FY 2013 revenue: $3.58 billion — 6.8 percent increase from 2012
FY 2013 operating profit: $165.9 million — 14.6 percent decrease from 2012
FY 2013 total profit: $142.6 million — 12.3 percent increase from 2012

Bon Secours Health System (Marriottsville, Md.)
FY 2013 revenue: $3.36 billion — 4.7 percent increase from 2012
FY 2013 operating profit: $123.9 million — 5 percent increase from 2012
FY 2013 total profit: $170.9 million — 48.7 percent increase from 2012

Sanford Health (Sioux Falls, S.D.)
FY 2013 revenue: $3.11 billion — 23.4 percent increase from 2012
FY 2013 operating profit: $30.8 million — 61.1 percent decrease from 2012
FY 2013 total profit: $133.6 million — 46.2 percent increase from 2012

Jefferson Health System (Philadelphia)
FY 2013 revenue: $3.05 billion — 1 percent increase from 2012
FY 2013 operating profit: $238.9 million — 7.3 percent increase from 2012
FY 2013 total profit: $304.3 million — 30.8 percent increase from 2012

University of Maryland Medical System (Baltimore)
FY 2013 revenue: $2.57 billion — 8.5 percent increase from 2012
FY 2013 operating loss: $13.8 million — recorded $71.7 million operating profit in 2012
FY 2013 total profit: $84.2 million — recorded $23 million total loss in 2012

Duke University Health System (Durham, N.C.)
FY 2013 revenue: $2.54 billion — 2.5 percent increase from 2012
FY 2013 operating profit: $184.1 million — 28 percent decrease from 2012
FY 2013 total profit: $439.9 million — 155 percent increase from 2012

OhioHealth (Columbus)
FY 2013 revenue: $2.53 billion — 6.6 percent increase from 2012
FY 2013 operating profit: $215.2 million — 6.1 percent decrease from 2012
FY 2013 total profit: $380.5 million — 63.2 percent increase from 2012

PeaceHealth (Vancouver, Wash.)
FY 2013 revenue: $2.2 billion — 0.7 percent decrease from 2012
FY 2013 operating profit: $9.8 million — 71.5 percent decrease from 2012
FY 2013 total profit: $96.4 million — recorded $43.3 million total loss in 2012

MemorialCare Health System (Fountain Valley, Calif.)
FY 2013 revenue: $2.09 billion — 16.4 percent increase from 2012
FY 2013 operating profit: $138.9 million — 69.1 percent increase from 2012
FY 2013 total profit: $198.3 million — 145 percent increase from 2012

Hospital Sisters Health System (Springfield, Ill.)
FY 2013 revenue: $2 billion — 4 percent increase from 2012
FY 2013 operating profit: $21.6 million — 7,310 percent increase from 2012
FY 2013 total profit: $167.9 million — recorded $11.9 million total loss in 2012

Wake Forest Baptist Medical Center (Winston-Salem, N.C.)
FY 2013 revenue: $1.9 billion — 2.9 percent decrease from 2012
FY 2013 operating loss: $56.6 million — recorded $45.8 million operating profit in 2012
FY 2013 total loss: $4.5 million — recorded $88.7 million total profit in 2012

Wheaton Franciscan Healthcare (Glendale, Wis.)
FY 2013 revenue: $1.76 billion — 2.3 percent increase from 2012
FY 2013 operating profit: $39.5 million — 9.4 percent decrease from 2012
FY 2013 total profit: $68.6 million — 64.5 percent increase from 2012

Essentia Health (Duluth, Minn.)
FY 2013 revenue: $1.65 billion — 6.6 percent increase from 2012
FY 2013 operating profit: $29.4 million — 10.6 percent decrease from 2012
FY 2013 total profit: $93.3 million — 554 percent increase from 2012

Lehigh Valley Health Network (Allentown, Pa.)
FY 2013 revenue: $1.56 billion — 3.1 percent increase from 2012
FY 2013 operating profit: $33 million — 60.2 percent decrease from 2012
FY 2013 total profit: $59.9 million — 54.8 percent decrease from 2012

West Penn Allegheny Health System (Pittsburgh)
FY 2013 revenue: $1.49 billion — 0.3 percent increase from 2012
FY 2013 operating loss: $153.1 million — 33.3 percent increase from 2012
FY 2013 total loss: $137.6 million — 62.3 percent increase from 2012

Temple University Health System (Philadelphia)
FY 2013 revenue: $1.36 billion — 37 percent increase from 2012
FY 2013 operating loss: $18.2 million — 22.3 percent increase from 2012
FY 2013 total profit: $8.1 million — 16.3 percent increase from 2012

Integris Health (Oklahoma City)
FY 2013 revenue: $1.33 billion — 0.5 percent decrease from 2012
FY 2013 operating profit: $41.3 million — 6.9 percent decrease from 2012
FY 2013 total profit: $97.4 million — 86.1 percent increase from 2012

University of Cincinnati Health
FY 2013 revenue: $1.21 billion — 4.4 percent increase from 2012
FY 2013 operating loss: $8 million — recorded $32.8 million operating profit in 2012
FY 2013 total profit: $26.3 million — 84 percent decrease from 2012

Hawaii Pacific Health (Honolulu)
FY 2013 revenue: $1.02 billion — 13 percent increase from 2012
FY 2013 operating profit: $92.1 million — 31 percent increase from 2012
FY 2013 total profit: $110.2 million — 50.8 percent increase from 2012

CentraCare Health (St. Cloud, Minn.)
FY 2013 revenue: $938.1 million — 8.8 percent increase from 2012
FY 2013 operating profit: $47.1 million — 5.8 percent decrease from 2012
FY 2013 total profit: $146 million — 1,210 percent increase from 2012

Reading (Pa.) Health System
FY 2013 revenue: $913 million — 4.6 percent increase from 2012
FY 2013 operating profit: $20.8 million — 39.6 percent decrease from 2012
FY 2013 total profit: $109.5 million — 741 percent increase from 2012

Wellmont Health System (Kingsport, Tenn.)
FY 2013 revenue: $798.2 million — 1.2 percent increase from 2012
FY 2013 operating profit: $12.9 million — 42.4 percent decrease from 2012
FY 2013 total profit: $31.4 million — 21.2 percent decrease from 2012

The Christ Hospital Health Network (Cincinnati)
FY 2013 revenue: $761.5 million — 11.8 percent increase from 2012
FY 2013 operating profit: $19.3 million — 14.2 percent increase from 2012
FY 2013 total profit: $11.3 million — 6 percent increase from 2012

Rex Healthcare (Raleigh, N.C.)
FY 2013 revenue: $731.4 million — 3.5 percent increase from 2012
FY 2013 operating profit: $45.2 million — 13.2 percent decrease from 2012
FY 2013 total profit: $46 million — 8.4 percent decrease from 2012

Anne Arundel Health System (Annapolis, Md.)
FY 2013 revenue: $572.4 million — 3.1 percent increase from 2012
FY 2013 operating profit: $2.8 million — 73.7 percent decrease from 2012
FY 2013 total profit: $43 million — recorded $35.1 million total loss in 2012

Genesis Health System (Davenport, Iowa)
FY 2013 revenue: $552.5 million — 4.1 percent increase from 2012
FY 2013 operating profit: $17.3 million — 50 percent increase from 2012
FY 2013 total profit: $38.8 million — 166 percent increase from 2012

Northern Arizona Healthcare (Flagstaff)
FY 2013 revenue: $535 million — 3.4 percent increase from 2012
FY 2013 operating profit: $30 million — 39.5 percent decrease from 2012
FY 2013 total profit: $31.4 million — 21.2 percent decrease from 2012

Conemaugh Health System (Johnstown, Pa.)
FY 2013 revenue: $515.7 million — 1.2 percent increase from 2012
FY 2013 operating profit: $11.2 million — 32.5 percent decrease from 2012
FY 2013 total profit: $33.1 million — 31.2 percent increase from 2012

Bayhealth (Dover, Del.)
FY 2013 revenue: $482.4 million — 7 percent increase from 2012
FY 2013 operating profit: $38.3 million — 0.2 percent decrease from 2012
FY 2013 total profit: $73.9 million — 70.7 percent increase from 2012

Owensboro (Ky.) Health
FY 2013 revenue: $428.8 million — 2 percent increase from 2012
FY 2013 operating loss: $20.2 million — recorded $25.7 million operating profit in 2012
FY 2013 total profit: $47,000 — 99.8 percent decrease from 2012

MaineGeneral Health (Augusta)
FY 2013 revenue: $423.3 million — 1.4 percent increase from 2012
FY 2013 operating profit: $10.6 million — 28 percent decrease from 2012
FY 2013 total profit: $15.7 million — recorded $2.2 million total loss in 2012

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