For many nonprofit health systems, the 2013 fiscal year ended June 30. Several observations can be gleaned from their annual financial statements.
For example, of a sample of 35 nonprofit health systems that recently wrapped up FY 2013, total revenue at most organizations generally increased. However, operating income was mostly down from 2012. For the nine health systems that posted gains in operating income, labor spend and supply expenses were managed more efficiently year-over-year.
Overall, 33 of the 35 observed health systems posted a total profit in FY 2013 despite the slowdown in operating income. Many health systems have seen marked improvements in their investment gains, and others have begun to reap the financial benefits of consolidation, according to analysis of the financial statements.
Here are three primary data points for each of 35 health systems that recently posted consolidated financial statements from their 2013 fiscal years.
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Note: Data comes directly from financial statements posted on the Municipal Securities Rulemaking Board’s EMMA. Health systems listed posted their statements within the past month and have at least $400 million in total revenue. They are listed by highest to lowest total revenue. Total profit/loss figures are based on the health system’s excess of revenue over/under expenses, which generally includes investment gains/losses, income taxes and debt/interest rate swaps. Total profit/loss figures are not the health system’s increase/decrease in unrestricted net assets, which include pension plan funds and other variables.
Date: October 30, 2013