News: Top five best performing hospitals by net patient revenue named by new report
The nation’s top-performing hospitals, ranked by net patient revenue, was published by Definitive Healthcare in a report earlier this year. Revenue cycle departments play an essential role in any healthcare organization’s success, and a streamlined and optimized cycle greatly contributes to its financial strength. The report says that many believe net patient revenue is a true key indicator of this and increasing the number is one of the most difficult challenges hospitals face, HealthLeaders reported.
The top five hospitals for net patient revenue are as follows:
- Tisch Hospital, $6,273,707,636
- Cleveland Clinic Main Campus, $6,037,196,525
- NewYork-Presbyterian Weill Cornell Medical Center, $5,734,047,089
- AdventHealth Orlando, $5,004,081,001
- Vanderbilt University Medical Center, $4,691,813,631
To calculate the net patient revenue, a hospital subtracts charitable donations, bad debt, contractual adjustments, and other deductions from its gross revenue based on all patient care performed. Hospitals were ranked according to the most recent 12 months tracked in its database. Fluctuating patient volumes, decreasing reimbursement rates, and constant pressure trying to keep up with changing regulations all greatly contribute to the struggle of improving financial performance, the report stated.
Other data points show that many hospitals bring in billions of dollars in net patient revenue, with all the top 10 reporting more than $3.9 billion and the top 50 earning more than $151 billion combined. The average hospital in these top ranks earned roughly $3.03 billion in net patient revenue, researchers found.
Editor’s note: To read HealthLeaders’ coverage of this story, click here.