11 Recent Stories on Hospital Finances

Here are 11 hospitals and health systems that have recently released information on their revenues, profits or losses from their most recent fiscal year.

1. Erlanger Medical Center in Chattanooga, Tenn., finished fiscal year 2011 with a profit of $5.35 million, down from last year's profit of $8.58 million.

2. For three straight years, University Medical Center of Southern Nevada in Las Vegas recorded an annual operating loss of more than $70 million.

3. Geisinger Health System, based in Danville, Pa., recently reported it made a profit of $180.9 million in fiscal year 2011, a 70 percent increase from the previous fiscal year.

4. University of Iowa Hospitals and Clinics is due to report revenues of more than $1 billion for fiscal year 2011.

5. University of Virginia Health System, based in Charlottesville, has reported a net income of $180.4 million for the last fiscal year, up 52.5 percent from the previous fiscal year.

6. Hospital Corporation of America's Medicare revenue growth in the second quarter of fiscal year 2011 fell short of expectations and a shift in volume from surgical to medical procedures, especially in the cardiovascular service line, was a leading factor in the low postings.

7. Dallas-based Tenet Healthcare softened estimates of its adjusted 2011 profit, saying a less favorable patient mix is leading to its increase in overall patient volumes.

8. For the first half of 2011, Port Angeles, Wash.-based Olympic Medical Center's net revenue was down 18 percent.

9. The Christ Hospital in Cincinnati has finally shown a profit, three years after becoming independent from the Health Alliance system in 2008.

10. Charleston (W.Va.) Area Medical Center's revenues are down roughly $6.5 million compared with last year, and Larry Hudson, the hospital's CFO, attributes the decline to the slow economy, Medicare's Part D prescription drug coverage program and advances in medical technology.

11. Milton (Mass.) Hospital has posted net patient service revenue of $48.3 million for the first nine months of FY 2011, down from $49.4 million for the same time period last year.

Related Articles on Hospital Finances:

Brooklyn Hospitals Struggle to Invest in Face of More Cuts
Hospital Savings Tip: Wipe Old Assets From Books
5 Significant Money-Saving Strategies for Hospital CFOs

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