Prov­i­dence gets boost from Med­i­caid ex­pan­sion

Modern Healthcare - - REGIONAL NEWS - —Beth Kutscher

Prov­i­dence Health & Ser­vices saw op­er­at­ing mar­gin gains last year as it treated more pa­tients and re­duced its bad debt, par­tic­u­larly in states that ex­panded their Med­i­caid pro­grams.

The Ren­ton, Wash.-based provider op­er­ates in five states, three of which ex­panded Med­i­caid el­i­gi­bil­ity. Its hos­pi­tals saw a 26% in­crease in Med­i­caid pa­tients over­all, and gross rev­enue from Med­i­caid in­creased 47% in Wash­ing­ton and 52% in Ore­gon.

Although the cost of un­paid care for Med­i­caid ben­e­fi­cia­ries rose to $444 mil­lion in 2014, up from $404 mil­lion the pre­vi­ous year, the sys­tem pro­vided less char­ity care. The sys­tem said char­ity care fell to $205.6 mil­lion in 2014 ver­sus $312.8 mil­lion in the pre­vi­ous year. In to­tal, Prov­i­dence posted an op­er­at­ing sur­plus of $219.2 mil­lion on rev­enue of $12.5 bil­lion for 2014, com­pared with an op­er­at­ing sur­plus of $37.7 mil­lion on $11.1 bil­lion in rev­enue the pre­vi­ous year.

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