The American Hospital Association reported an almost 20% rise in profits for fiscal 2011, according to tax documents.
“We had a solid year in 2011,” said Teri Fontenot, the AHA's board chair, who is also president and CEO of 226-bed Woman's Hospital in Baton Rouge, La. “We were able to manage expenditures the same way our members handle them daily in their hospitals.”
The AHA submitted its Form 990 today with the Internal Revenue Service showing the group's net income increased by 19.4% to $7.8 million.
The tax-exempt association also saw a 4.8% increase in total revenue, from $107.8 million in fiscal 2010 to about $113 million in fiscal 2011. Total expenses rose 3.9% to $105.2 million.
Other highlights include an 8.6% increase in salaries and compensation to $49.6 million from $45.6 million. The AHA paid out $48.3 million in salaries and compensation in fiscal 2009. Salaries decreased 5.5% from fiscal 2009 to 2010. The AHA also reported employing 472 people in tax year 2011, compared to 510 in the prior year.