Hospitals in Nevada, one of the states hit hardest by the Great Recession, have shown significant signs toward a financial recovery, reported the Las Vegas Review-Journal.
Data from the Nevada Department of Health and Human Services indicated that the hospitals reported an aggregate operating loss of $28.8 million, according to the article. However, excluding University Medical Center in Las Vegas, which treats a large portion of the state's poor and uninsured residents, the remainder of the hospitals are in the black with an operating profit of $43.5 million.
"I think hospitals emphasizing quality, cost effectiveness and efficiency have started to see better margins," Sherif Abdou, a physician and CEO of Healthcare Partners of Nevada, the area's largest clinic, told the newspaper.
Nationwide, earnings for hospitals began to stabilize in the second half of 2011, and some analysts believe the stocks of for-profit chains are currently undervalued, reported MSNBC.
Hospitals in Nevada also have boosted profits by controlling expenses. The Review-Journal reported that hospitals are trying to save money any way possible, from staffing to the price of medical supplies.
For more information:
- read the Review-Journal article
- here's the MSNBC article