The Executive Summary states:
Overall, West Virginia hospitals remained relatively stable, reporting profits of $184.5 million or 4.4% of net patient revenue (NPR), up from $176.7 million (4.5% of NPR) in FY 2006.
Acute Care Hospitals
The total profit margin for the 35 general acute care hospitals increased by almost 1%, with profits of $165.7 million (4.4% of NPR), up from $123.8 million (3.5% of NPR) in the prior year.
Critical Access Hospitals (CAH)
As a group, the profitability for CAHs continued to improve for the fourth straight year. The aggregate profit was $5.8 million (2.3% of NPR). In FY 2006, profit was $4.3 million (1.8% of NPR).
Long-term Acute Care Hospitals (LTCH)
The two facilities in FY 2007 reported a profit of $1.5 million (5.9% of NPR), a decline from the FY 2006 profit of $3.3 million(12.4% of NPR).
The psychiatric hospitals had an aggregate loss of $8.3 million(35.8% of NPR), with the two state psychiatric hospitals losing $9.6 million combined and the two private hospitals earning profits of $1.3 million. The prior year’s overall loss was $702,000 (2.0% of NPR).
The five rehabilitation hospitals showed a return to more normal profit levels with aggregate profits of $19.8 million (22.1% of NPR). In FY 2006, these hospitals reported an aggregate profit of $46.0 million (51.7% of NPR) due to the sale of a facility.
The overall profit margin for the state’s 106 nursing homes increased by 1.5%. Aggregate profits of $44.8 million (6.5% of NPR) were reported, an increase over the $32.6 million (5.0% of NPR) reported in FY 2006.
Aggregate net patient revenue increased $38.6 million in FY 2007; expenses increased $25.1 million.
Overall, home health agencies reported total losses of $2.3 million on $84.1 million total revenue; 32 of the 66 agencies were profitable. Eleven home health agencies were acquired during FY 2007.
Hospice profits for the 19 agencies were $8.3 million, compared to $9.1 million in FY 2006.
Behavioral Health Facilities
Eighty-nine behavioral health providers reported aggregate profits of $15.1 million, 2.9% of total revenue; 57 of 89 facilities were profitable.
Methadone Treatment Facilities
The aggregate profit for the eight facilities was $6.1 million, 29.7% of total revenue.
Ambulatory Surgical Centers (ASC)
Eleven reporting certified ASCs had an aggregate profit of $5.2 million, 21.7% of total revenue.