Despite NARH Closure, Report Shows Mass. Hospital Profits Up
A new report says the overall profitability of Massachusetts hospitals improved last year, but 11 of the 64 still lost money. This comes after North Adams Regional Hospital closed March 28. It's parent company, Northern Berkshire Healthcare, cited years of financial struggles.
The 2013 fiscal year report released Wednesday by the Center for Health Information and Analysis said the total margin of Massachusetts hospitals — the percentage of revenues exceeding expenses — climbed to 4.1 percent in the period ending Sept. 30, up from 3.8 percent a year earlier.
The Boston Globe reports that at the state's six academic medical centers, the margin increased to 4.6 percent from 3.6 percent.
But at 23 hospitals that serve a disproportionate number of Medicaid and Medicare patients, the margin fell to 3.6 percent from 5.6 percent.
The state's most profitable hospital was Boston Children's. The largest loss, $20.3 million, was posted by Salem's North Shore Medical Center. North Adams Regional Hospital made nearly $2.5 million.