Nevada hospital profits increase 14.7 percent

Wednesday, Dec. 15, 1999 | 10:39 a.m.

SUN CAPITAL BUREAU

CARSON CITY -- Valley Hospital Medical Center in Las Vegas posted $23.1 million in profits last fiscal year to become the most profitable hospital in Nevada.

At the other end, Nye Regional Medical Center in Tonopah reported the biggest loss, $2.6 million.

The figures were released by the state Division of Health Care Financing and Policy, which reported Tuesday that hospital profits statewide jumped 14.7 percent to $63.2 million, compared to $55.1 million in the prior fiscal year. That averaged to $57 profit per day per patient.

The figures come from hospital reports to the state.

The division said the $23.1 million earned by Valley was 17.2 percent higher than the previous fiscal year. Profits at Desert Springs Hospital fell 64.2 percent to $2.1 million. The number of outpatients dropped at Desert Springs while the amount of bad debt rose.

Sunrise Hospital & Medical Center, the state's largest hospital, had profits of $8.9 million, down from $16.5 million in fiscal year 1998. University Medical Center, operated by Clark County, posted profits of $7.4 million, down 4.8 percent.

Washoe Medical Center in Reno recorded profits of $3.9 million, up 199 percent and St. Mary's Regional Medical Center had profits of $3.6 million, up 100.3 percent.

Profits at small urban hospitals were $17.3 million. But Summerlin Hospital Medical Center in Clark County posted a $1.9 million loss.

Profits at the small urban hospitals in Clark County were $1.3 million at St. Rose Dominican Hospital in Henderson; $3.9 million at MountainView Hospital in Clark County; $9.4 million at Lake Mead Hospital and $467,594 at the Boulder City Hospital.

At the ten rural hospitals, there was a loss of $3.1 million.