Financial Stability for Hospitals in Connecticut

by Max Friedman 

NIMH_Clinical_CenterThe Affordable Care Act has expanded health insurance coverage to thousands of Connecticut residents through an expanded Medicaid program (HUSKY) and subsidies for the purchase of private insurance. This has enabled more people to receive the care they need at hospitals around the state.

However, many hospitals claim that state funding cuts and tax increases are imperiling their ability to aid their communities.

So what are the facts?

Connecticut Mirror’s Arielle Levin Becker and Alvin Chang wrote an article last week examining nine aspects from the hospitals’ 2014 Financial Stability Reports. This data covers the federal 2014 Fiscal Year, which ran from October 1, 2013, to September 30, 2014.

In a series of graphs, readers can explore how Connecticut hospitals have performed on a variety of financial measures from 2009 to 2014.

Some highlights include:

  • Hospitals’ financial margins have improved, but some hospitals are still struggling.
  • The rise in outpatient hospital visits coupled with a drop in inpatient procedures.
  • Fewer patients are uninsured, but more now have HUSKY and other coverage that pays lower rates to hospitals.
  • The cost of uncompensated care has dropped overall, but has risen in some facilities.

This information is vital as various hospital systems merge and change service levels across the state.

We’ll be watching for the latest financial data due to be reported in the next few weeks.

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