Thursday, March 30, 2017

Large majority of CT hospitals and health systems making money

Last year, 23 of CT’s 28 hospitals and half the 20 health systems made money last year. Collectively, CT’s 28 hospitals’ net margins (profits) totaled $877,878,858 last year. The biggest total winners were Dempsey/UConn at $286 million and Yale-New Haven netting $160 million. Waterbury Hospital lost the most money -- $16.5 million or 7.6% of revenue. As a percent of revenue, Dempsey was also the biggest winner at 43.3% of revenue as profit/margin. Sharon Hospital lost the most as a percent of revenue (-35.5%), but most of that was non-operating revenue losses. CT’s 20 health systems collectively netted slightly more than hospitals at $910, 016,203. Biggest winners were Yale-New Haven (again) netting $150 million and Hartford at $207 million. Yale (12.5%) and Dempsey (11.2%) also led health systems in profits/margin as a percent of revenue. Waterbury again lost the most at $31 million total, and Sharon lost the most as a percent of revenue at -30.7% but again, that was mainly due to non-operating expenses. More financial data on CT hospitals and health systems is available here.