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You are Here: Home Page > 1995 Press Releases > New York State Hospital Revenues -- 1994  

New York State Hospital Revenues -- 1994

Albany, December 29, 1995 -- The annual report of 1994 hospital data submitted by the hospital industry was issued today by the State Health Department. Taken as a whole, the figures indicate that most hospitals in New York State had healthy bottom lines in 1994.

Of the 209 hospital corporations in the state, the vast majority -- nearly 95 percent -- are voluntary (not-for-profit). A small number of hospitals -- a total of ten -- are proprietary (for-profit) institutions. Overall, revenue for voluntary and proprietary hospitals in New York State grew by approximately 7.2 percent in 1994. Together, voluntary and proprietary hospitals showed a collective surplus of $240.6 million in 1994, almost double that of the previous year. On a revenue base of $23 billion, the 1994 surplus amounts to about one percent.

During the previous reporting year, voluntary and proprietary hospitals in New York State had overall net revenue totaling $130.4 million, on a revenue base of $22 billion.

Counting the nine major public hospital corporations in the state, 1994 saw a systemwide net gain of $101.8 million for New York's hospitals, or .03 percent of total revenue. Overall, the state's major public hospitals showed a net loss of $138.8 million in 1994, less than half of the previous year's deficit. By comparison, New York's major public hospitals lost a total of $329.3 million during the previous reporting year.

Financial reports are submitted to the Department annually by individual hospitals. The Department has adjusted the data to reflect certain accounting changes, and to ensure that facilities are comparably reported.

Following are highlights of the 1994 annual report of hospital data:

Voluntary and Proprietary Hospitals

• Long Island hospitals had a net surplus of $46.5 million in 1994. A total of 20 hospitals had a surplus and three lost money. St. Francis-Roslyn had the largest surplus ($6.76 million) and Central General Hospital in Plainview had the greatest loss ($4.36 million).
• New York City hospitals had an $80.7 million surplus in 1994. A total of 42 hospitals had a surplus and eight posted a loss. St. Vincent's-N.Y. had the largest surplus ($15.4 million) and St. Luke's-Roosevelt had the biggest loss ($12.5 million).
• Northern Metropolitan hospitals (covering the lower Hudson Valley) had a net surplus of $23.2 million in 1994. There were 29 hospitals that had a surplus and nine that lost money. Nyack Hospital had the largest surplus ($5.75 million) and Mercy Community Hospital in Port Jervis had the greatest loss ($2.41 million).
• Northeastern New York hospitals had a net surplus of $20.1 million in 1994. A total of 18 hospitals had a surplus and four posted a loss. Albany Medical Center Hospital had the largest surplus ($3.87 million) and Moses-Ludington Hospital in Ticonderoga had the greatest loss ($1.09 million).
• Utica area hospitals had a net surplus of $6.45 million in 1994. A total of 14 hospitals had a surplus and five lost money. Mary Imogene Bassett Hospital in Cooperstown had the largest surplus ($2.18 million) and Lewis County Hospital had the greatest loss ($987,136).
• Central New York hospitals had a net surplus of $15.8 million in 1994. There were ten hospitals that had a surplus and five that lost money. Tompkins Community Hospital in Ithaca had the largest surplus ($4.41 million) and Crouse-Irving hospital in Syracuse had the greatest loss ($1.33 million).
• Rochester-area hospitals had a net surplus of $30.5 million in 1994. There were 13 hospitals that had a surplus and one that lost money. Strong Memorial Hospital had the largest surplus ($11.9 million) and Soldiers and Sailors Hospital of Yates County lost money ($389,716).
• Western New York hospitals had a net surplus of $13.5 million in 1994. A total of 20 hospitals had a surplus and eight lost money. Buffalo's Millard Fillmore Hospital had the largest surplus ($3.48 million) and Olean General Hospital had the greatest loss ($1.51 million).
• Watertown area hospitals had a net surplus of $3.98 million in 1994. House of the Good Samaritan Hospital had the largest surplus ($3.83 million). No hospitals posted a loss.

Public Hospitals

• New York City's Health and Hospitals Corporation had a net loss of $142.6 million, and State University Hospital-Downstate lost $18.7 million.
• All other major public hospitals reported a surplus in 1994. SUNY Health Sciences Center on Long Island had the largest surplus ($12.6 million).