A year of strong financial performance
Despite the financial challenges and constraints related to a weakened economy, tight capital markets, inadequate governmental reimbursement and increasing competition, Yale-New Haven Hospital stayed ahead of negative industry trends and ended the year with a 5 percent operating margin. A focused approach to managing expenses, identifying revenue cycle improvements, and investing in key service enhancements and the quality of our workforce contributed to this strong operating performance, which helped support our multiple missions. The Hospital's uncompensated and undercompensated care costs — including free care, charity care, bad debt and Medicaid underpayments — grew to more than $167 million.
We were particularly pleased that, as a result of a review of our performance against plans shared previously, Moody's Investor Service upgraded YNHH's bond rating from A1 to Aa3/stable outlook and S&P affirmed its A+/stable outlook rating.