How are Virginia hospitals doing financially?

23 of 86 Virginia hospitals (27%) reported a loss on patient care in their latest full-year Medicare cost report, compared with 55% nationwide. The median operating margin was 7.7%, higher 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.

Virginia hospitals reported $707.5 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 Inova Fairfax Hospital ($87.7 million), University of Virginia Medical Center ($61.7 million), Medical College of Virginia Hospitals ($41.1 million), Sentara Norfolk General Hospital ($33.0 million), Cjw Medical Center ($27.6 million).

Virginia ranks 3 of 50 states by the median operating margin of its hospitals (1 = highest). A smaller share of its hospitals lost money on patient care than the U.S. as a whole (27% vs 55%).

Inova Fairfax Hospital in Falls Church reported the most net patient revenue: $3.1 billion in its latest full-year cost report, with 922 beds and an operating margin of 21.5%.

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.