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. 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. Outside Influences
Environmental
Harsh weather and natural disasters
Economic
People unable to afford health care costs
Political
Medicare and Medicaid changes
6. Changes in Services
Outpatientservices are accounting for
more revenue
Inpatientservices are accounting for
less revenue
Becoming a national trend
many potential causes
7. Services
Inpatient
All major specialties offered, with few
exceptions
Outpatient
Primary care, laboratory, radiology
All major specialists
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. 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. 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. Payer Mix
Government
Commercial
50%
Insurance
42%
(S. Sloane, personal communication, April 11, 2013)
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. Cost Cutting Measures
Lean program
Captive Liability Insurance Company
Medicare Shared Savings Program
14. Financial Stability
Challenges due to economic and
political factors
Despite challenges, strong financial
growth
Strong
ratings from financial rating
companies
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
Notas do Editor
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”
