Fort Smith Hospitals Lead NW Facilities in Net Income
by June 2, 1997 12:00 am 53 views
Two Fort Smith hospitals occupy the top spots in the Northwest Arkansas Business Journal rankings by net income of area medical facilities.
St. Edward Mercy Medical Center, licensed for 368 beds, reported net income of $19.5 million for the last fiscal year. Sparks Regional Medical Center, with 438 beds, earned $13.9 million.
Fayetteville’s Washington Regional Medical Center is in the third spot with a net income of nearly $8 million and assets of $74.2 million. The hospital reported net income from service to patients at $5.2 million.
Northwest Medical Center in Springdale is No. 5 with income of $3.5 million and assets of $95.3 million. It reported a net loss of $2.6 million from service to patients.
Bates Medical Center in Bentonville, which listed $9.8 million in assets, was in 11th place with net income of $529,000. The hospital lost $55,500 from service to patients.
St. Mary’s in Rogers ranked 12th with an income of $491,000 and assets of $46.1 million. The hospital earned $641,600 from service to patients.
In comparing institutions by size, Washington Regional is licensed for 247 beds while Northwest Medical Center has 235 beds. Bates is licensed for 71 beds while St. Mary’s has 185 beds.
Other hospitals on the list include Northwest Arkansas Rehabilitation Hospital in Fayetteville, licensed for 60 beds, with $1 million in net income and assets of $4.4 million. Washington Regional is a partner in that operation.
Fayetteville City Hospital, licensed for 150 beds, is used primarily as a geriatric center. It is a part of the Washington Regional system, as is the Eureka Springs hospital, which is licensed for 17 beds. Fayetteville City Hospital listed net income of $476,000 and assets totaling $5.2 million.
Also in Northwest Arkansas is Siloam Springs Memorial, an 81-bed facility that reported a net income of nearly $706,000 and assets of nearly $10.1 million. In Gravette, the 105-bed Gravette Medical Center had a net income of $418,000 while its assets were listed at $6.1 million.