Analysis of Concord                      HospitalDana L. HappelSaint XavierUniversity
Outline Overview Outside   Influences Services Revenue,    Expenses, and Payers Cost   Cutting Measures Financial   ...
Overview of Concord           Hospital Regional   acute care hospital Located   in Concord, New Hampshire Non-profit 2...
Mission and Vision        Be            a charitable organization               38 million dollars in charity services i...
Outside Influences Environmental   Harsh weather and natural disasters Economic   People unable to afford health care ...
Changes in Services Outpatientservices are accounting for  more revenue Inpatientservices are accounting for  less reven...
Services Inpatient   All major specialties offered, with few   exceptions Outpatient   Primary care, laboratory, radio...
Changes in Services                         500                         450 Revenue (in millions)                         ...
Revenue and Expenses    Revenue      Sources: Patient services, non-operating      2012 fiscal year total: 426 million ...
Financial Strengths 20    million dollars in gains over     expenses 24        million dollar growth in assets Increase...
Payer Mix                                                      Government                              Commercial         ...
Payer Characteristics    Government:      Medicare and Medicaid        pay lower rates    Commercial                   i...
Cost Cutting Measures Lean   program Captive   Liability Insurance Company Medicare   Shared Savings Program
Financial Stability Challenges   due to economic and political factors Despite   challenges, strong financial growth St...
References   Concord Hospital. (2012). Community benefits reporting    form. Retrieved    from:http://www.concordhospital...
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  • This presentation is an analysis of Concord Hospital with a specific focus on its financial status and stability
  • This presentation will discuss an overview of Concord Hospital along with its mission and values, factors influencing Concord Hospitals well-being, services offered by the hospital, information on revenue and expenses, payer mix and how that mix affects Concord Hospital, what steps the hospital has taken to cut costs, and the overall financial stability of Concord Hospital.
  • Concord Hospital is a regional acute care hospital located on 114 acres of land in Concord, NH which is the state capital. It is a non profit hospital committed to serving the general population of Concord and the 25 surrounding towns. This hospital have 238 staffed beds and employs over 2600 people.
  • The concord hospital mission statement says “Concord Hospital is a charitable organization which exists to meet the health needs of individuals within the communities it serves.” The mission statement also states that the hospital provides services to all people without reference to specific characteristics. Concord Hospital has gone above and beyond its mission by providing over 38 million dollars in charity services including free health care, prescription assistance, and scholarships. The hospital works to meet the needs of the community by performing a comprehensive needs assessment every five years and developing a community benefit plan each year to meet those needs.
  • “The Hospital remained at the A2 and A rating levels from Moody’s and Fitch respectively, with a continued stable outlook”
  • D.happel concord hospitalpresentation_04-11-2013

    1. 1. Analysis of Concord HospitalDana L. HappelSaint XavierUniversity
    2. 2. Outline Overview Outside Influences Services Revenue, Expenses, and Payers Cost Cutting Measures Financial Stability
    3. 3. Overview of Concord Hospital Regional acute care hospital Located in Concord, New Hampshire Non-profit 238 staffed beds Serves general population in 25 surrounding towns
    4. 4. Mission and Vision  Be a charitable organization  38 million dollars in charity services in 2012  Meet the needs of the community  Comprehensive community needs assessment every 5 years  Community benefit plan made yearly(Community Benefits Reporting Form, 2013)
    5. 5. Outside Influences Environmental  Harsh weather and natural disasters Economic  People unable to afford health care costs Political  Medicare and Medicaid changes
    6. 6. Changes in Services Outpatientservices are accounting for more revenue Inpatientservices are accounting for less revenue Becoming a national trend  many potential causes
    7. 7. Services Inpatient  All major specialties offered, with few exceptions Outpatient  Primary care, laboratory, radiology  All major specialists
    8. 8. Changes in Services 500 450 Revenue (in millions) 400 350 300 250 200 2011 150 2012 100 50 0 Inpatient Outpatient Type of Revenue(Baker, Newman & Noyes, 2012)
    9. 9. Revenue and Expenses Revenue  Sources: Patient services, non-operating  2012 fiscal year total: 426 million dollars Expenses  Sources: employee costs, purchasing, tax  2012 fiscal year total: 405 million(Baker, Newman & Noyes, 2012)
    10. 10. Financial Strengths 20 million dollars in gains over expenses 24 million dollar growth in assets Increase in funds for charitable care(Baker, Newman & Noyes, 2012)
    11. 11. Payer Mix Government Commercial 50% Insurance 42%(S. Sloane, personal communication, April 11, 2013)
    12. 12. Payer Characteristics  Government: Medicare and Medicaid pay lower rates  Commercial insurance: Tend to pay higher rates  Self-pay: 88% unable to pay(Baker, Newman & Noyes, 2012)
    13. 13. Cost Cutting Measures Lean program Captive Liability Insurance Company Medicare Shared Savings Program
    14. 14. Financial Stability Challenges due to economic and political factors Despite challenges, strong financial growth Strong ratings from financial rating companies
    15. 15. References Concord Hospital. (2012). Community benefits reporting form. Retrieved from:http://www.concordhospital.org/news/community.php Baker, Newman, & Noyes. (2012). Concord Hospital, inc. and subsidiaries: audited consolidated financial statements and additional information. Retrieved from:http://www.concordhospital.org/news/news.php?shownews=tr ue&id=901&artid=901&arttype=1
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