The 2,262-bed, multicampus hospital primarily treats commercially insured patients. Almost 52% of its net patient-service revenue in the first half of this year came from private payers. Only 0.6% of New York-Presbyterian's revenue came from self-pay or uninsured patients.
Rising expenses led to a decrease in the hospital's operating margin, which fell to 4.6% in the half-year period this year, compared with a 5.6% margin in the same period of 2013. New York-Presbyterian did post major investment gains, which helped to stabilize the hospital's overall surplus. Including investment income, the six-month overall surplus totaled $175.2 million, a 7.2% boost from the year-ago period.
New York-Presbyterian made headlines in the second quarter this year after a run-in with the federal government. The hospital and its affiliated Columbia University reached a settlement with HHS' Office for Civil Rights, agreeing to pay $4.8 million, after patients' protected health data was exposed online. The government said it was the largest-ever Health Insurance Portability and Accountability Act settlement.
The hospital is also in the process of losing one of its system affiliates to a competitor. Earlier this summer, Montefiore Health System in the Bronx signed a letter of intent to absorb Nyack (N.Y.) Hospital, a member of the New York-Presbyterian Healthcare System.
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