Tue November 23, 2010
Profitability gap between network and independent hospitals remains
By Megan Hall
Providence, RI – Overall, 2009 was a better financial year for Rhode Island Hospitals, but independent medical centers are still struggling to survive. That's the prognosis from a new report by the Rhode Island Department of Health.
Between 2008 and 2009, net income for the state's hospitals increased by more than 120 percent, up from 3.5 million to nearly 8 million.
But the data doesn't offer good news for all of the state's medical centers. Every hospital that isn't associated with the Care New England or Lifespan Corporations lost money in 2009.
In fact, the report found that network hospitals fared much better than independent hospitals in every possible financial category.
Women and Infants Hospital, a member of Care New England, scored highest for the best overall financial performance. Landmark Medical Center, an independent hospital which is still in receivership, received the weakest overall score.
Take a look at the report here
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