Moody’s Investors Service has 10 levels of investment-grade long-term ratings, ranging from a high of “Aaa” down to “Baa3.” Many small hospitals and health systems sit within the three subcategories of “Baa” ratings: “Baa1,” “Baa2” and “Baa3.”
Here are 39 statistics on various hospital metrics from Moody’s. Note: All data are medians from 2011 and are for only the three subcategories of “Baa” ratings. Moody’s data reflects standalone hospitals and single-state health systems in its portfolio.
Hospitals rated “Baa1”
Sample size: 47
Maintained beds: 331
Outpatient surgeries: 9,151
Net patient revenue: $506.3 million
Total operating revenue: $519.5 million
Excess of revenue over expenses: $22.4 million
Net fixed assets: $212.4 million
Operating margin: 1.7 percent
Operating cash flow margin: 7.9 percent
Days cash on hand: 133
Accounts receivable: 45 days
Debt-to-capitalization: 47.7 percent
Average age of plant: 11.1 years
Hospitals rated “Baa2”
Sample size: 42
Maintained beds: 245
Outpatient surgeries: 7,345
Net patient revenue: $261.6 million
Total operating revenue: $280.8 million
Excess of revenue over expenses: $7.3 million
Net fixed assets: $156.2 million
Operating margin: 1.5 percent
Operating cash flow margin: 8.8 percent
Days cash on hand: 124.9
Accounts receivable: 43.1 days
Debt-to-capitalization: 50.4 percent
Average age of plant: 11.2 years
Hospitals rated “Baa3”
Sample size: 20
Maintained beds: 208
Outpatient surgeries: 6,108
Net patient revenue: $221.9 million
Total operating revenue: $246.6 million
Excess of revenue over expenses: $8.5 million
Net fixed assets: $113.8 million
Operating margin: 1.6 percent
Operating cash flow margin: 8.4 percent
Days cash on hand: 108.5
Accounts receivable: 41.9 days
Debt-to-capitalization: 49.4 percent
Average age of plant: 10.4 years
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