WSJ focused on the huge profits reported by non-profit healthcare systems – Nonprofit Hospitals, Once For the Poor, Strike It Rich.
Riding gains from investment portfolios and enjoying the pricing power that came from a decade of mergers, many nonprofit hospitals have seen earnings soar in recent years. The combined net income of the 50 largest nonprofit hospitals jumped nearly eight-fold to $4.27 billion between 2001 and 2006, according to a Wall Street Journal analysis of data from the American Hospital Directory. AHD, an information-service company, compiles data that hospitals report to the federal government.
Ascension Health, owner of our Sacred Heart, has a treasure chest of $7.4 billion.
The AHD reports – Baptist profits $10,570,363; Gulf Breeze $3,727,674; Jay $1,757,257; Sacred Heart $29,189,637; Santa Rosa Medical Center $6,535,399.
West Florida Hospital: Lost $15,896,998
Gross Patient Revenue
Gulf Breeze $164,589,380
Total Baptist Health Care System: $888,516,921
Sacred Heart $928,798,398 – Clearly Sacred Heart dominates market share.
Santa Rosa Medical Center $212,723,774
West Florida Hospital $664,202,588
BTW: These total receipts $2.7 billion – just for patient care – exceed defense spending in Escambia and Santa Rosa counties by more than $400 million.