The Center for Health Information and Analysis (CHIA) has released its latest quarterly hospital and health system financial performance report with data through March 31, 2021.
CHIA reports both annually and quarterly on the performance of the Commonwealth’s acute care hospitals, associated hospital health systems, and affiliated physician organizations. As hospitals and their respective health systems have evolved, CHIA has added financial information on hospital health systems, affiliated physician organizations, and affiliated health plans in its publications.
CHIA reports on trends in profitability, liquidity, and solvency and also compares a hospital’s individual performance to its peer cohort. Currently, acute hospitals are grouped into these cohorts: Academic Medical Centers (AMCs), Teaching hospitals, Community hospitals, and Community-High Public Payer Hospitals (HPP).
Recently, CHIA published a preliminary update on hospital and health system financial performance for fiscal year 2020. This report provides a view of profitability, liquidity, and solvency for those hospitals with a fiscal year end date of June 30 or September 30. Therefore, this report only includes 49 of the 61 acute hospitals in Massachusetts as well as data for 22 of the 25 hospital health systems.
This latest report incorporates the financial impact of COVID-19 on hospital health care operations during fiscal year 2020. Federal COVID-related funding was distributed to hospitals as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. A portion of this funding was reported as operating revenue and is reflected in the data as such. State relief funds were also distributed to hospitals in this time period.