hospital finances

Hospital Profits Remain Strong, While Charity Care Levels Drop

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Legislators intend to look at the financial status of nonprofit hospitals in 2017, given their heightened financial performance and continued decline in charity care.

The operating margins at Oregon hospitals continued their upward spiral following an analysis of second quarter financial reports obtained by The Lund Report.

Hospital Finances: A Look Inside Adventist Health, Catholic Health Initiatives, CHE Trinity Health

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These hospital systems have a relatively small presence in Oregon compared to their national expansion, yet are a major force in the state’s economy

Some of the nation’s biggest healthcare companies have relatively small footprints in Oregon.

Hospital Finances: St. Charles Faces Budget Squeeze

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Health system cuts costs, plans construction, in response to Affordable Care Act pressures

These are tumultuous times for St. Charles Health System. The nonprofit is losing its CEO and slashing its budget, and at the same time preparing to spend millions on new construction to upgrade some of the state’s smallest hospitals.

Samaritan Health Services Reported Net Loss in 2012

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During the same time span, the assets of its five hospitals grew by 3.1 percent, reaching $34.8 million.

How well are Oregon’s hospitals meeting local needs? Are they making smart decisions about their money? Today, The Lund Report runs the fourth in a series of stories exploring hospitals across the state.

This project begins with a review of more than 50 hospitals licensed to operate in Oregon. These stories look at profit margins, hospital size and reach, and touch briefly on executive compensation. Part 1 profiled Providence Health System’s eight hospitals. Part 2 examined Legacy Health’s four Oregon hospitals. Part 3 visited with hospitals owned by four small chains: Kaiser, Asante Tuality and Salem Health. Today, we dig in to Samaritan Health Services. Click on the accompanying Excel spreadsheets for a look at the data collected: a breakdown of Samaritan's finances and a list of what Samaritan top brass were paid in 2012.

After examining the details of every Oregon-licensed hospital, The Lund Report will follow up with stories that dive deep into the facts we’ve uncovered. We’ll ask about profits, compensation and the cost of caring for the poor.

Finances of Tuality, Salem, Kaiser Permanente and Asante Networks Revealed

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This analysis by The Lund Report not only shows the salaries of the top executives at these hospitals, but also takes a detailed look into the profit, net patient revenue, reported charity care, available beds and emergency room visits.

Non-profit hospitals across the state have a mission to serve their community, but an analysis by The Lund Report revealed that many of their CEOs are doing quite well for themselves, too. Across the spectrum of Tuality, Salem , Kaiser Permanente and Asante networks, hospital CEOs were well rewarded for their work.

Dr. Ashish Jha, professor of health policy and management at the Harvard School of Public Health, recently completed a study of executive compensation at every nonprofit hospital in the country. He found that typical CEOs earn between $400,000 and $500,000 –more at large institutions, or if they oversee more than one hospital, and less if they work in rural areas. Jha’s research looked at total reported compensation, a figure that includes actual pay as well as benefits like retirement plans and other benefits that executives don’t bring home.

Nearly $1 Million in Bonuses paid to Legacy Health Executives in 2012

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Legacy Health logo
Its four hospitals in Oregon collected $1.1 billion in net patient revenue in 2012 and employed 11,400 people. Dr. George J. Brown, its CEO, took home the highest bonus, $255,586.

The bonuses are back. After offering almost no bonuses in 2011, Oregon-based Legacy Health brought back incentive pay for its executives in 2012, paying out more than $881,000 to its 13 highest paid executives on staff.

That’s just one of the findings in this latest installment of The Lund Report’s ongoing review of Oregon hospitals.

Which Oregon Hospital is Among the Most Expensive?

The Lund Report
Sky Lakes Medical Center, the only hospital in Klamath Falls which could make its prices higher, particularly for the uninsured

July 24, 2013 -- Sky Lakes Medical Center is one of the most expensive hospitals for the state’s uninsured, according to a Lund Report examination of recently released Medicare billing data.

For-Profit Hospitals Skimp on Charity Care

The Lund Report
Overall, spending on care for the poor dropped statewide while enrollment climbed in the Oregon Health Plan

 

April 26, 2013 – Oregon's two for-profit hospitals are among the stingiest hospitals in the state when it comes to providing care for the poor.

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