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You are Here: Home Page > 1997 Press Releases > New York State Hospital Revenues  

New York State Hospital Revenues

Albany, Jan. 13 1996 – The annual report of 1995 fiscal data submitted by the hospital industry was issued today by the State Health Department. An improved overall performance indicates that most hospitals are well–positioned to take advantage of opportunities presented by the Health Care Reform Act (HCRA).

HCRA, which took effect January 1, ends state rate–setting for most payors, meaning hospitals will now negotiate for reimbursement in a competitive environment. This marketplace reform will ultimately improve hospital bottom lines and increase access to high quality health care.

Of the 247 hospital corporations referenced in the report, most nearly 95 percent are voluntary (not–for–profit). A small number of hospitals a total of 12 are proprietary (for–profit) institutions. Overall, revenue for voluntary and proprietary hospitals in New York State grew by approximately five percent in 1995. Together, voluntary and proprietary hospitals showed a collective profit or in the case of non–profit institutions a surplus of $461 million in 1995, almost double that of the previous year. On a revenue base of $24 billion, the 1995 surplus amounts to almost two percent.

During the previous reporting year, voluntary and proprietary hospitals had an overall net revenue totaling $236 million, on a revenue base of $23 billion.

Counting the nine major public hospital corporations in the state, 1995 saw a systemwide net gain of $364.6 million for New York's hospitals, or 1.2 percent of total revenue. Overall, the state's major public hospitals reduced their deficits by 31 percent.

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 1995 annual report of hospital data:

Voluntary and Proprietary Hospitals

• Long Island hospitals had a net surplus of $68.1 million in 1995. A total of 16 hospitals had a surplus and seven lost money. South Nassau Community Hospital had the largest surplus, $22.2 million, and Brunswick Hospital Center had the greatest loss ($9.2 million).
• New York City hospitals had an $196.3 million surplus in 1995. A total of 33 hospitals had a surplus and eighteen posted a loss. New York Hospital had the largest surplus, $57.6 million, and New York University Hospital had the biggest loss ($21 million).
• Northern Metropolitan hospitals (covering the lower Hudson Valley) had a net surplus of $35.2 million in 1995. There were 27 hospitals that had a surplus and nine that lost money. Nyack Hospital had the largest surplus, $5.6 million, and New Rochelle Hospital in Port Jervis had the greatest loss ($10.3 million).
• Northeastern New York hospitals had a net surplus of $43 million in 1995. A total of 17 hospitals had a surplus and four posted a loss. Albany Medical Center Hospital had the largest surplus, $13.6 million, and Moses–Ludington Hospital in Ticonderoga had the greatest loss ($1.6 million).
• Utica area hospitals had a net surplus of $24.4 million in 1995. A total of 18 hospitals had a surplus and two lost money. Mary Imogene Bassett Hospital in Cooperstown had the largest surplus, $4.9 million, and Oneida City Hospital had the greatest loss ($383,005).
• Central New York hospitals had a net surplus of $33 million in 1995. There were 13 hospitals with a surplus and two that lost money. Cayuga (formerly Tompkins Community Hospital in Ithaca) had the largest surplus, $6.6 million, and Ira Davenport Hospital in Syracuse had the greatest loss ($584,465).
• Rochester–area hospitals had a net surplus of $34.1 million in 1995. There were 9 hospitals that had a surplus and three that lost money. Strong Memorial Hospital had the largest surplus, $18.2 million, and Newark–Wayne Hospital had the greatest loss ($5.3 million).
• Western New York hospitals had a net surplus of $23.3 million in 1995. A total of 20 hospitals had a surplus and five lost money. Buffalo's Millard Fillmore Hospital had the largest surplus, $8.8 million, and Mercy Hospital had the greatest loss ($3.9 million).
• Watertown area hospitals had a net surplus of $3.6 million in 1995. Samaritan Medical Center (formerly House of the Good Samaritan Hospital) had the largest surplus, $2.6 million. No hospitals posted a loss.

Public Hospitals

• New York City's Health and Hospitals Corporation had a net loss of $147 million.
• All other major public hospitals reported a surplus in 1995. University Hospital at Stony Brook had the largest surplus, $27.9 million.