Friday, Sept. 24, 2004 | 11:29 a.m.
CARSON CITY -- Profit among Nevada hospitals soared to $98.5 million last year, an increase of 98.8 percent over 2002, the state reported today.
The state Division of Health Care Financing and Policy said profit in Clark County hospitals rose to $54.9 million, up from $5.4 million in the previous year. A major factor was a reduction in losses by county-operated University Medical Center in Las Vegas where losses fell from $38.4 million in 2002 to $2.9 million in 2003.
HCA Inc.-owned Sunrise Hospital Medical Center in Las Vegas, the largest hospital in the state that has in past years led the state in hospital profit, fell to fourth place this year.
The report said the most profitable hospital was Henderson-based St. Rose Dominican Hospitals - Siena Campus, which recorded $17.9 million in the black. The nonprofit Washoe Medical Center in Reno reported $17.4 million in revenue over expenses.
Besides University Medical Center, only one other of the so-called "Big Six" hospitals in Nevada reported a losing year. That was Saint Mary's Regional Medical Center in Reno at $1.9 million.
Universal Health Services Inc.-owned Valley Hospital Medical Center in Las Vegas reported profit of $15.1 million, while its sister hospital Desert Springs was in the black $1.1 million. Sunrise posted $14.6 million.
While Catholic Healthcare West-owned St. Rose Dominican Hospitals - Siena Campus reported a profit of $17.9 million, its sister hospital St. Rose Dominican Hospitals - Rose de Lima Campus had a $3 million loss.
The division said Universal Health Services-owned Summerlin Hospital Medical Center in Las Vegas earned $10.9 million; Boulder City Hospital had a loss of $552,839; the former Tenet Healthcare Corp.-owned Lake Mead Hospital Medical Center, now known as North Vista Hospital under IASIS Healthcare Corp., lost $5.5 million; HCA-owned MountainView Hospital was $9.4 million to the good. Universal Health's newest hospital, Spring Valley Hospital Medical Center, reported a $2.1 million loss. Spring Valley opened Oct. 3.
The report said the average amount hospitals collected from patients and their insurers rose 6 percent statewide to $1,864 per day. In Clark County, operating revenue per patient day increased 7.7 percent to $1,782.
The division said hospital profits in Washoe County-Carson City fell from $42.8 million in 2002 to $36.5 million in 2003.
In a breakdown, the agency said the Siena campus of St. Rose earned an average of $243 per day per patient but the sister campus lost $59 per day per campus.
University Medical Center reported it lost $14 per day per patient; Valley Hospital earned a $131 per day per patient; Sunrise reported a $64 in earnings per day per patient and Desert Springs had a $15 per day per patient profit.
The report said Boulder City Hospital lost $57 per day per patient; Lake Mead lost $103 per day per patient; Mountain View earned $114 per day per patient; Spring Valley reported a loss of $367 per day per patient and Summerlin had a $130 per day per patient profit.
Sunrise was the largest hospital in the state, billing $1.5 billion, followed by University Medical Center at $1.087 billion.
The 10 hospitals in rural Nevada earned a combined $7 million in profit. But the hospitals in Battle Mountain, Pioche, Winnemucca, Hawthorne, Tonopah and Lovelock all reported a loss. The biggest moneymaker in rural Nevada was Northeastern Nevada Regional Hospital in Elko that had a $9.1 million profit.
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