Asante’s audited financial statements are made available as part of our commitment to transparency and to sharing information with the community.
Our fiscal year is October 1 through September 30. For fiscal year 2015, Asante generated $739.5 million in revenue and $689.3 million in operating expenses. That’s compared to $641.2 million of revenue and $617.8 million of operating expenses in FY2014.
The organization paid $377.6 million for employees’ salaries and benefits, which is an increase of nearly $42 million from FY2014.
Asante invested $ 55.9 million in new facilities, equipment and lifesaving technology to provide care for the people in the nine-county region we serve. This includes a new cardiac rehabilitation center, advanced MRI capabilities, construction of an outpatient health center and urgent care in Grants Pass, and continued implementation of an electronic health record so patients have secure access to their medical records 24/7.
Care for the Underserved
With the implementation of the Affordable Care Act, a greater number of previously uninsured people now have health-care coverage. Many newly insured patients are covered by Medicaid, whose reimbursement does not cover the full costs of providing care. As a result, in 2015 Asante absorbed $42.9 million to fill the reimbursement gap for Medicaid patients.
Additionally, as the number of insured people grows, hospitals across the country are experiencing a decline in the amount of charity care they need to provide. In 2015, Asante’s investment in charity care was $6.8 million. Asante has pledged to maintain our total community benefits at or above historical levels on a five-year rolling average, so as charity care decreases, we will replace those dollars with other forms of community benefit.