U.S. Not-For-Profit Health Care System Fiscal 2010 Median Ratios Improved, But The Longer-Term Outlook Is Uncertain Due To Reform Aug 11

Standard & Poors, August 2011

Abstract
U.S. not-for-profit health care systems improved their performance, continuing a recovery since mid-2009 after a very challenging period. Standard & Poor's Ratings Services' analysis of health systems' fiscal 2010 median ratios shows a broad improvement across most metrics and rating levels, including gains in unrestricted liquidity, excess income, and overall cash flow. Median operating margins were generally stable, although there was some inconsistency across rating levels. The median trends highlight management's continued focus on improving the balance sheet and, to the extent possible, the income statement, to generate increased flexibility in preparation for expected changes in health care delivery and financing in the next few years. (Watch the related CreditMatters TV segment, "U.S. Not-For-Profit Health Care Ratios Reveal Industry Improvement,...

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Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.

- Scottsdale Healthcare
- Orlando Hlth
- South Broward Hosp Dist
- St. Luke's Health System
- NorthShore Univ Hlth Sys
- Parkview Hlth Sys Oblig Grp
- Adventist Hlth Sys/Sunbelt Obligated Grp
- Baptist Hlth Sys, Inc. of Jacksonville
- William Beaumont Hosp
- Fairview Hlth Svcs
- St. Barnabas Corp
- University Hospitals Hlth Sys, Inc.
- Kettering Hlth Network Obligated Grp
- Cleveland Clinic Hlth Sys
- St. Francis Hlth Sys
- St. John Hlth Sys
- Crozer Chester Med Ctr
- Sanford
- West Tennessee Healthcare
- Methodist Le Bonheur Healthcare & Affiliates
- Intermountain Hlth Care
- Inova Hlth Sys Foundn
- Froedtert Hlth
- Baylor Hlth Care Sys
- Moses Cone Mem Hosp
- Resurrection Hlth Care
- Baystate Med Ctr
- INTEGRIS Baptist Med Ctr Oblig Grp
- St. Joseph Hlth Sys
- North Shore Long Island Jewish Hlth Sys
- Adventist Hlth Sys/West
- Wake Forest Baptist Oblig Grp
- Bon Secours Hlth Sys, Inc.
- University of Maryland Med Sys
- FirstHealth of the Carolinas
- Hospital Sisters Services, Inc.
- St. Elizabeth Med Ctr
- Memorial Hlth Svcs
- The Health Care Auth for Baptist Hlth
- North Broward Hospital District
- Mayo Clinic
- Catholic Health Partners
- Methodist Hosp of Houston
- Piedmont Healthcare Inc
- Nebraska Methodist Hlth Sys
- Henry Ford Hlth Sys
- Greenville Hosp Sys Brd of Trustees
- SSM Hlth Care Sys
- Lee Mem Hlth Sys
- Dignity Hlth
- Dartmouth-Hitchcock Oblig Grp
- Sharp Healthcare
- Mercy Health
- MidMichigan Hlth
- Univ Hlth Sys of Eastern Carolina, Inc.
- Carilion Clinic Obligated Grp
- Novant Hlth, Inc.
- Hawaii Pacific Hlth
- Baptist Mem Hlth Care Corp
- Kaiser Permanente
- Univ of North Carolina Hosps
- Presbyterian Hlthcare Svcs
- OSF Hlthcare Sys
- Scripps Hlth
- BJC HealthCare
- Baptist Hlth South Florida
- WellStar Hlth Sys
- Via Christi Hlth
- Advocate Hlth Care Network
- Indiana Univ Hlth Oblig Grp
- Baptist Hlth
- Lifespan Oblig Grp
- Univ of Pittsburgh Med Ctr
- Catholic Health Initiatives
- Sutter Hlth
- Jefferson Hlth Sys
- Catholic Health East
- Memorial Hermann Health Care System
- Franciscan Missionaries of Our Lady Hlth Sys
- Provena Health System
- Spectrum Hlth Sys
- Heritage Vy Hlth Sys
- Mission Hlth Inc
- Southern Illinois Healthcare Enterprises
- Infirmary Hlth Sys Inc
- PeaceHealth
- CareAlliance Hlth Svcs, Inc.
- Allina Hosp & Clinics
- MedStar Hlth, Inc.
- UMass Mem Hlth Care Inc
- CHRISTUS Hlth
- Palmetto Hlth
- Essentia Hlth Obligated Grp
- Catholic Hlth Svcs of Long Island
- Covenant Hlth Sys Obligated Grp
- ProMedica Hlthcare Oblig Grp
- Banner Hlth
- Virtua Hlth, Inc.
- Ascension Health Alliance
- Avera Hlth
- Mountain States Hlth Alliance
- West Penn Allegheny Hlth Sys
- Norton Healthcare
- Wellmont Hlth Sys
- OhioHealth
- Covenant Hlth
- Saint Luke's Hlth Sys, Inc.
- MaineHealth
- Cottage Hlth Sys
- MultiCare Hlth Sys
- Daughters of Charity Hlth Sys
- Community Hlth Network
- Health Quest Sys, Inc.
- Valley Hlth Sys Obligated Grp
- MCG Hlth, Inc.
- Archbold Med Ctr
- Park Nicollet Hlth Svcs
- Legacy Hlth
- Meridian Hlth Sys
- Temple University Health System
- Providence Hlth & Svcs
- HealthEast Care Sys
- Scott & White Mem Hosp & Scott Sherwood & Brindley Foundn
- Sisters of Charity of Leavenworth Hlth Sys
- Sentara Healthcare
- University of Pennsylvania Hlth Sys

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