Saint V's, UMass Memorial most profitable in early 2016
All but two acute care hospitals in Central Massachusetts reported year-over-year profits for the first three months of 2016, according to a report from a state agency that tracks hospital financials.
According to June data from the Massachusetts Center for Health Information and Analysis, Saint Vincent Hospital -- a teaching hospital -- posted a year-over-year profit of $15.9 million, the largest of any Central Massachusetts hospital. That gain is consistent with the report’s finding that teaching hospitals were the state’s most profitable by a much larger margin than they were even last year. Saint Vincent also reported net assets of $402.2 million, according to the report.
UMass Memorial Medical Center, the only academic medical center in Central Massachusetts, posted the area’s second largest profit of $14.1 million, with net assets of $278 million. Overall, the state’s six academic medical centers made up its least profitable cohort, according to CHIA.
The remaining hospitals in Central Massachusetts are classified as community-disproportionate share hospitals, with the exception of MetroWest Medical Center, which is classified as a community hospital. Most of these hospitals reported more modest profits, with two reporting slight losses.
Here are the Central Massachusetts community-DSH hospital profits or losses and net assets for the first three months of 2016, according to CHIA:
- Harrington Hospital, $6.9 million gain, $64.4 million in net assets;
- UMass Memorial - HealthAlliance Hospital, $3.1 million gain, $159 million in assets;
- UMass Memorial - Marlborough Hospital, $2.5 million gain, $34.7 million in net assets;
- Heywood Hospital, $2.1 million gain, $53.4 million in net assets;
- Nashoba Valley Medical Center, $0.6 million gain, $3.2 million in net assets;
- Athol Memorial Hospital, $0.5 million loss, $2.2 million in net assets;
- UMass Memorial - Clinton Hospital, $0.8 million loss, $16.3 million in net assets.
UMass Memorial Medical Center and Saint Vincent Hospital also both meet the DSH criteria, according to the report.
The region’s lone community hospital without a DSH distinction, MetroWest Medical Center, reported a profit of $5.8 million and -$57.4 million in net assets.
WBJ Web Partners
Most Recent
Most Recent
0 Comments