New Jersey hospitals posted slightly better than break-even operating margins in 2001 for the second straight year, according to a report by the New Jersey Hospital Association. All told, New Jersey hospitals earned $206 million on nearly $13 billion in operating revenue, a 1.6% margin. That compares with a $114 million gain in 2000. Days' cash on hand increased by nine days to 52, and the number of days receivables were outstanding shrank by seven days to 58. Long-term debt rose to $4.3 billion, up from $3.9 billion in the previous year. Despite the improvements, one-third of the state's hospitals continued to operate in the red, according to the report. The report was based on audited financial results from 95% of the state's 115 hospitals but did not include hospital-specific information. -- by Cinda Becker
N.J. hospitals earn 1.6% operating profit in 2001
Send us a letter
Have an opinion about this story? Click here to submit a Letter to the Editor, and we may publish it in print.