83% of Connecticut Hospitals Had Positive Margins in 2012

In fiscal year 2012, 25 of Connecticut's 30 hospitals, or 82 percent, reported a positive total margin, according to a September report from the Connecticut Office of Health Care Access.

The OHCA analyzed FY 2012 financial data from the state's 30 acute-care hospitals as part of its annual hospital financial report. Here are some of the key takeaways from the report:

•    Connecticut acute-care hospitals posted cumulative operating profit of $513.6 million in 2012, a 69 percent increase from 2011.

•    The average total margin across all hospitals in 2012 was 6.6 percent, compared with 3.6 percent the year before. The OHCA attributed the positive financial results to "continued improvement in financial operational performance" and "a rebound in investment performance."

•    The most profitable hospital in Connecticut last year was Bridgeport-based St. Vincent's Medical Center, an affiliate of St. Louis-based Ascension Health. Its total margin was 18.9 percent. The next closest was Backus Hospital in Norwich with a total margin of 13 percent.

•    The least profitable hospital in Connecticut last year was New Milford Hospital, posting a total margin of -7.83 percent. In March, New Milford shut down its family birthing center. In July, its parent organization, Western Connecticut Health Network, cut 116 jobs.

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