Most of Connecticut’s 28 acute care hospitals, including those in Fairfield County, ended fiscal year 2016 with a surplus – although St. Vincent’s Medical Center in Bridgeport did so by the narrowest of margins.
According to the Connecticut Office of Health Care Access, St. Vincent’s, owned by St. Louis-based Ascension Health, finished the fiscal year $106,000 in the black. Still, that was a vast improvement over fiscal 2015, when it finished nearly $15.1 million in the red.
Danbury Hospital recorded the most impressive fiscal turnaround, ending fiscal 2016 with a surplus of about $24.7 million after recording a deficit of $5.6 million in fiscal 2015. Western Connecticut Health Network’s other Fairfield facility, Norwalk Hospital, finished fiscal 2016 up by $38.6 million, compared with a profit of $39.7 million in fiscal 2015.
Within the Yale New Haven Health System, Bridgeport Hospital finished fiscal 2016 up by about $46.7 million after having a $55.6 million surplus in fiscal 2015. Greenwich Hospital was in the black by $34.7 million compared with a surplus of about $26.9 million in fiscal 2015.
Independent Stamford Hospital posted a profit of nearly $39.9 million compared with a surplus of about $45.4 million in fiscal 2015.
Yale-New Haven Hospital again led all hospitals with a profit of nearly $160.4 million – a substantial increase over fiscal 2015’s $109.4 million.
Five hospitals lost money: Windham in Willimantic was down $13 million; Waterbury was down $16.5 million; Sharon was down $13.7 million; Bristol was down $1.9 million; and Hungerford in Torrington was down $4.8 million. Eight hospitals, including St. Vincent’s and Danbury, lost money in fiscal 2015.