RI reports on state's hospital performance
Patient Financial Services Weekly Advisor, July 16, 2004
The Rhode Island Department of Health on July 8 released The Health of RI's Hospitals (2003), which details the financial performance of Rhode Island's 13 community hospitals.
The report also compares the state's hospitals to others in the Northeast and across the country.
When compared to hospitals in other regions, Rhode Island's hospitals fared poorly on profitability, declined in net worth, and experienced lower liquidity during 2002 (the most recent year for which comparable data were available).
Its hospitals also financed their facilities with more debt and had less capacity to increase borrowings compared to other regions.
Yet the performance of all hospitals improved in 2003. Profit margins and net worth increased and collections improved. Overall borrowings were reduced, and the ability to service debt was enhanced.
The report ranked facilities in the state using a composite score of eight measures over three years.
To learn more, click here.
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