How are Washington hospitals doing financially?

67 of 95 Washington hospitals (71%) reported a loss on patient care in their latest full-year Medicare cost report, compared with 55% nationwide. The median operating margin was -5.0%, 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.

Washington hospitals reported $584.5 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 Harborview Medical Center ($46.7 million), Tacoma General Hospital ($42.1 million), Good Samaritan Hospital & Rehab Center ($26.8 million), St Joseph Medical Center ($25.0 million), Providence Regional Medical Center Everett ($22.6 million).

Washington ranks 36 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 (71% vs 55%).

University of Washington Medical Ctr in Seattle reported the most net patient revenue: $2.6 billion in its latest full-year cost report, with 652 beds and an operating margin of -8.1%.

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.