HEALTH CARE

The Hospital Profit Picture
Hospital Location Revenues1 Earnings1 Profit Margin
Alexandria Hospital Alexandria $124.3 $12.2 9.8%
Arlington Hospital Arlington 104.1 27.2 26.1
Augusta Medical Center Fishersville 87.6 13.3 15.2
Bath County Community Hospital Hot Springs 4.5 1.0 21.0
Bon Secours - Maryview Medical Center Portsmouth 92.0 4.8 5.2
Bon Secours - Portsmouth General Hospital Portsmouth 10.2 -0.8 -7.8
Bon Secours - Richmond Community Hospital Richmond 12.5 1.2 9.6
Bon Secours - Stuart Circle Hospital Richmond 34.9 1.5 4.3
Buchanan General Hospital Grundy 28.0 3.4 12.1
Carilion Bedford Memorial Hospital Bedford 13.6 0.4 2.9
Carilion Franklin Memorial Hospital Rocky Mount 15.3 0.9 5.9
Carilion Giles Memorial Hospital Pearisburg 12.3 1.1 8.9
Carilion Radford Community Hospital Radford 41.4 5.3 12.8
Carilion Roanoke Community Hospital Roanoke 127.3 10.4 8.2
Carilion Roanoke Memorial Hospital Roanoke 203.6 23.9 11.7
Centra Health Lynchburg 160.1 16.2 10.1
Chesapeake General Hospital Chesapeake 106.2 9.9 9.3
Chippenham & Johnston-Willis Hospitals Richmond 297.8 48.4 16.3
Columbia Alleghany Regional Hospital Low Moor 32.7 2.2 6.7
Columbia Clinch Valley Medical Center Richlands 36.5 1.3 3.6
Columbia Henrico Doctors' Hospital Richmond 173.3 26.2 15.1
Columbia John Randolph Hospital Hopewell 51.6 2.7 5.2
Columbia Lewis-Gale Medical Center Salem 119.2 16.5 13.8
Columbia Montgomery Regional Hospital Blacksburg 42.1 5.0 11.9
Columbia Pulaski Community Hospital Pulaski 28.9 2.2 7.6
Columbia Reston Hospital Center Reston 73.9 10.7 14.5
Columbia Retreat Hospital Richmond 33.9 -0.9 -2.7
Community Memorial Healthcenter South Hill 32.9 2.1 6.4
Culpeper Memorial Hospital Culpeper 25.2 1.6 6.3
Danville Regional Medical Center Danville 96.2 11.5 12.0
DePaul Medical Center Norfolk 61.8 4.5 7.3
Dickenson County Medical Center Clintwood 8.9 0.6 6.7
Fauquier Hospital Warrenton 37.4 4.2 11.2
Greensville Memorial Hospital Emporia 19.2 1.7 8.9
Halifax Regional Hospital South Boston 40.3 6.5 16.1
HealthSouth Medical Center Richmond 44.0 1.9 4.3
Inova Fair Oaks Hospital Fairfax 72.6 3.9 5.4
Inova Fairfax Hospital Springfield 404.9 34.1 8.4
Johnston Memorial Hospital Abingdon 38.3 5.7 14.9
Lee County Community Hospital Pennington Gap 27.6 0.7 2.5
Lonesome Pine Hospital Big Stone Gap 14.5 0.8 5.5
Loudoun Hospital Center Leesburg 51.8 9.6 18.5
Louise Obici Memorial Hospital Suffolk 57.2 1.2 2.1
Martha Jefferson Hospital Charlottesville 75.2 2.9 3.9
Mary Immaculate Hospital Newport News 49.2 4.6 9.3
Mary Washington Hospital Fredericksburg 139.1 10.0 7.2
Medical College of Virginia Hospitals Richmond 397.4 24.0 6.0
Memorial Hospital of Martinsville & Henry County Martinsville 54.1 5.5 10.2
Capitol Hospital Richmond 20.8 1.2 5.8
Mount Vernon Hospital Alexandria 87.0 4.9 5.6
Newport News General Hospital2 Newport News 8.0 12.5 156.3
Norfolk Community Hospital3 Norfolk 23.0 9.7 42.2
Northampton - Accomack Memorial Hospital Nassawadox 31.7 3.1 9.8
Norton Community Hospital Norton 24.6 1.1 4.5
Page Memorial Hospital Luray 10.3 1.2 11.7
Potomac Hospital Woodbridge 67.7 9.5 14.0
Prince William Hospital Manassas 64.2 10.5 16.4
R.J. Reynolds Patrick County Memorial Hospital Stuart 7.9 -0.9 -11.4
Rappahannock General Hospital Kilmarnock 22.8 0.7 3.1
Richmond Eye and Ear Hospital Richmond 8.1 2.7 33.3
Richmond Memorial Hospital Richmond 63.9 -3.8 -5.9
Riverside Regional Medical Center Newport News 171.7 18.6 10.8
Riverside Tappahannock Hospital Tappahannock 16.8 1.7 10.1
Riverside Walter Reed Hospital Gloucester 20.0 2.1 10.5
Rockingham Memorial Hospital Harrisonburg 93.6 8.2 8.8
Russell County Medical Center Lebanon 24.9 5.4 21.7
Sentara Bayside Hospital Virginia Beach 43.3 -32.2 -74.4
Sentara Hampton General Hospital Hampton 63.3 0.9 1.4
Sentara Leigh Hospital Norfolk 83.1 7.6 9.1
Sentara Norfolk General Hospital Norfolk 249.8 25.1 10.0
Shenandoah Memorial Hospital Woodstock 18.5 -0.8 -4.3
Smyth County Community Hospital Marion 29.6 4.3 14.5
Southampton Memorial Hospital Franklin 21.9 0.8 3.7
Southside Community Hospital Farmville 29.7 2.7 9.1
Southside Regional Medical Center Petersburg 91.5 9.2 10.1
St. Mary's Hospital - Norton Norton 20.0 2.4 12.0
St. Mary's Hospital - Richmond Richmond 164.4 13.5 8.2
Stonewall Jackson Hospital Lexington 15.1 2.4 15.9
Tazewell Community Hospital Tazewell 9.1 0.4 4.4
Twin County Regional Hospital Galax 31.9 1.0 3.1
University of Virginia Medical Center Charlottesville 414.4 9.0 2.2
Vencor Hospital - Arlington Arlington 37.4 2.9 7.8
Virginia Beach General Hospital Virginia Beach 102.0 10.8 10.6
Warren Memorial Hospital Front Royal 16.3 1.4 8.6
Williamsburg Community Hospital Williamsburg 58.9 7.9 13.4
Winchester Medical Center Winchester 148.3 15.6 10.5
Wise Appalachian Regional Hospital4 Wise 12.3 -1.1 -8.9
Wythe County Community Hospital Wytheville 22.9 2.2 9.6
1In millions rounded to nearest $100,000.        2Closed in August 1997.
3Filed for bankruptcy under Chapter 11 on Feb. 13, 1998.        4Closed in April 1998.

As reported for fiscal year end 1996. Revenues are defined as net patient revenue plus other operating revenue. Earnings are defined as revenue and gains in excess of expenses and losses.

Source: Virginia Health Information's 1997 Industry Report (http://www.vhi.org)

The HMO Profit Picture
HMO Headquarters Revenues1 Earnings1 Profit Margin
Aetna Health Plans (mid-Atlantic)2 Falls Church $95.3 -$3.4 -3.5%
Washington, D.C. Arlington 77.5 0.4 0.5
Cigna Healthcare (mid-Atlantic) Columbia, Md. 51.6 2.4 4.6
Cigna Healthcare of Virginia Glen Allen 91.3 7.0 7.7
George Washington University Bethesda, Md. 14.0 -6.8 -48.2
Health First Inc.3 Virginia Beach 18.3 -0.5 -2.5
HealthKeepers4 Richmond 170.9 0.1 -0.1
Heritage National Healthplan Moline, Ill. 293.2 16.9 5.8
HMO Virginia 4 Richmomd 7.9 -0.2 -2.9
Humana Group Health Plan Washington, D.C. 218.9 -66.2 -30.2
Kaiser Foundation (mid-Atlantic) Rockville, Md. 592.8 11.3 1.9
MD-Individual Practice Association Rockville, Md. 290.5 15.3 5.3
National Capital Health Plan Springfield 0.3 -0.9 -315.3
NylCare Health Plans (mid-Atlantic) Greenbelt, Md. 462.7 15.5 3.4
Optima Health Plan Virginia Beach 172.1 1.3 0.8
Optimum Choice Rockville, Md. 663.5 -15.3 -2.3
Partners National (North Carolina) Winston-Salem, N.C 210.7 8.7 4.1
Peninsula Health Care Newport News 37.9 0.5 1.4
Physicians Health Plan Richmond 30.1 -3.3 -11.1
Principal Health Care (mid-Atlantic) Rockville 45.8 -5.6 -12.1
Priority Health Care3 Virginia Beach 59.7 -0.2 -0.4
Prudential Health Care Plan Jacksonville, Fla. 2,461.8 -91.8 -3.7
QualChoice of Virginia Health Plan Charlottesville 20.3 -2.0 -9.7
Sentara Health Plans Virginia Beach 81.3 -6.3 -7.8
Southern Health Services Richmond 84.6 -1.2 -1.4
U.S. Healthcare2 Blue Bell, Pa. 12.1 -3.9 -32.4
United Optical of Virginia Baltimore, Md. 0.2 0.0 8.7
United HealthCare (mid-Atlantic) Baltimore, Md. 137.2 -6.5 -4.7
Virginia Chartered Health Plan Reston 13.1 -0.9 -7.1
1In millions rounded to nearest $100,000.
2U.S. Healthcare merged with Aetna Health Plans of the Mid-Atlantic to form Aetna U.S. Healthcare in October 1997.
3Priority Health Care acquired Health First in July 1997.
4HealthKeepers acquired HMO Virginia in November 1997.

Source: State Corporation Commision Bureau of Insurance (1996 figures).


© MAY 1998, VIRGINIA BUSINESS MAGAZINE