The report uses data from hospitals, such as annual financial statements, to highlight the financial health of Pennsylvania general acute care hospitals.
Here are four findings from the report.
1. Hospitals’ net patient revenue increased 4.4 percent during fiscal year 2016, according to the report. Overall, hospitals across the state saw net patient revenue of $42 billion in fiscal year 2016. This made up 95 percent of statewide hospital total operating revenue, researchers said.
2. Statewide, hospitals saw a decrease in the number of days the average bill remained in accounts receivable. The number of days dropped from 47 days in fiscal year 2015 to 45 days in fiscal year 2016.
3. The report found statewide operating income increased to $2.6 billion in fiscal year 2016, up from $2.3 billion the year prior. This led to an increase in the statewide average operating margin, from 5.44 percent in fiscal year 2015 to 5.94 percent in fiscal year 2016.
4. The statewide percentage of uncompensated care to net patient revenue continued to drop in fiscal year 2016. During fiscal year 2016, that percentage decreased to 2.01 percent, down from 2.43 percent the year prior. Researchers said the foregone dollar value for statewide uncompensated care has fallen from $975 million in fiscal year 2015 to $846 million in fiscal year 2016.
Read the full report here.
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