Three Connecticut hospitals that are the target of Yale New Haven (Conn.) Health either have negative or near negative days' cash on hand, according to a September 2023 report.
The hospitals — Waterbury Hospital and two others operated by Eastern Connecticut Health Network, Manchester Memorial and Vernon-based Rockville Hospital — are currently owned by Los Angeles-based for-profit operator Prospect Medical. Yale New Haven officials have expressed increasing concern about the financial state of the three hospitals, threatening the completion of any potential acquisition.
The State of Connecticut Office of Health Strategy annual report backed such concerns up. Here are some financial comparisons between the three hospitals, according to the report data, which covers the fiscal year ending Sept. 30, 2022.
Days' cash on hand:
Waterbury Hospital: -2
Rockville Hospital: 1
Manchester Memorial: -7
State median: 74
Operating income (loss):
Waterbury Hospital: ($9.2 million)
Rockville Hospital: ($561,000)
Manchester Memorial: $8.8 million
Operating margin:
Waterbury Hospital: -3.7%
Rockville Hospital: -1.5%
Manchester Memorial: 4.1%
State median: -1.3%