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Financial Health of California Hospitals

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Abstract:

The health of California's hospitals is better than it was in the 1990s, although there is a wide gap between those that are doing well and those that are not. Over one-third of California general acute hospitals have very strong operating margins and good bond ratings. But the financial health of almost half of the facilities qualifies them for junk bond status at best. This affects their ability to borrow funds to modernize, which can impact the quality of care they provide. This graphic snapshot focuses on the financial health of California's 355 general acute care hospitals, including data on how they are owned, how they are used, who pays for hospital care, and their relative financial strength. The snapshot provides an overview of the major findings of the full report Financial Health of California Hospitals, produced by PricewaterhouseCoopers. Some key findings of this study include:

*Over 60% of California hospitals are affiliated with multi-hospital systems. *Most California hospitals are nonprofit entities, representing 67% of all hospital beds in the state. *California's hospital resources are used more efficiently, with fewer emergency department visits, hospital admissions, and days of hospital care per 1,000 population than the U.S. average. *Large numbers of Medicare and Medi-Cal patients served generally have a negative impact on a hospital's performance because these payments don't cover the cost of providing care. Private insurance generally pays more than the cost of care to offset the loss.