How are Rhode Island hospitals doing financially?

11 of 12 Rhode Island hospitals (92%) reported a loss on patient care in their latest full-year Medicare cost report, compared with 55% nationwide. The median operating margin was -14.7%, lower than the U.S. median of -1.6%. The operating margin leaves out donations, investment income and grants, so some of these hospitals still end the year in the black.

Rhode Island hospitals reported $49.9 million in charity care (the cost of free or discounted care for patients who qualify) in their latest full-year reports. The largest amounts came from Rhode Island Hospital ($23.8 million), Miriam Hospital ($9.0 million), Women and Infants Hospital of Rhode Island ($3.8 million), Kent County Memorial Hospital ($3.7 million), Roger Williams Medical Center ($3.0 million).

Rhode Island ranks 48 of 50 states by the median operating margin of its hospitals (1 = highest). A larger share of its hospitals lost money on patient care than the U.S. as a whole (92% vs 55%).

Rhode Island Hospital in Providence reported the most net patient revenue: $1.6 billion in its latest full-year cost report, with 650 beds and an operating margin of -25.7%.

It is how much a hospital keeps from patient care after paying its operating costs, as a share of its patient revenue. A margin of 5% means the hospital kept 5 cents of every dollar it earned from patients; a negative margin means patient care cost more than it brought in. It excludes donations, investment income and grants.