Modern Healthcare - - Regional News -

Nash Health Care Sys­tems recorded slightly lower op­er­at­ing earn­ings in 2009, but saw its in­vest­ment in­come re­bound from a loss in 2008 to post a bet­ter over­all per­for­mance, ac­cord­ing to its fi­nan­cial dis­clo­sure to bond­hold­ers for 2009. Nash re­ported in­come from op­er­a­tions of nearly $10 mil­lion in 2009 com­pared with op­er­at­ing in­come of $10.3 mil­lion in 2008. Net pa­tient ser­vice rev­enue in­creased 1.6% to $195.9 mil­lion. To­tal rev­enue was $200.9 mil­lion, also up 1.6% from 2008. The cost of un­com­pen­sated care (the sum of char­ity care and bad-debt ex­pense) rose 6.7%, to $38.8 mil­lion. The 310-bed hos­pi­tal serves a mar­ket with an un­em­ploy­ment rate of 13.9% as of De­cem­ber 2009, ac­cord­ing to the fi­nan­cial dis­clo­sure. In­vest­ment in­come in 2009 was $17.2 mil­lion af­ter a loss of $7.9 mil­lion in 2008. Nash also recorded a $1 mil­lion loss in 2008 for ter­mi­nat­ing an in­ter­est rate swap af­ter it con­verted its auc­tion-rate bonds to fixe­drate bonds be­cause of the freeze-up in auc­tion-rate mar­kets in Fe­bru­ary 2008 (Feb. 25, 2008, p. 6)

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