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Profile of Providence Holy Cross Medical Center
Located in the Mission Hills area of the San Fernando Valley, Providence Holy Cross Medical Center is owned by Providence Health & Services (PH&S), a 26-hospital company based in Seattle. Providence Health and Services is one of the wealthiest hospital corporations in the west.1 In 2006 PH&S recorded profits of $457 million and revenues of $5.8 billion.2 The chain operates in the western United States, and is the largest hospital system in Alaska, Washington and Oregon3, the first, second, and third most expensive states to spend a night in the hospital.4 Providence Health & Services operates four hospitals within Los Angeles County - Providence St. Joseph Hospital and Providence Holy Cross in the San Fernando and Santa Clarita Valleys; and Little Company of Mary Hospital and Little Company of Mary San Pedro Hospital in the South Bay area. Providence Health & Services also operates the following facilities in Southern California:5
In 2005, Holy Cross recorded a 5.34% operating profit, compared with the market6 average of -3.61%. The figure represented a huge increase from the hospital's 2004 1.71% operating profit.7 1 Comparison of Net Assets, Providence Health and Services, Sutter Health, and Catholic Healthcare West. 2 Providence Health & Services, 2006 Audited Earnings Report, page 5. 3 Hospital Data reported to Alaska, Oregon and Washington, 2005. 4 Kaiser Family Foundation's State Health Facts, "Hospital Adjusted Expenses per Inpatient Day, 2005," http://www.statehealthfacts.org/comparemaptable.jsp?ind= 5 Providence Health & Services, 2007 Fact Sheet, Page 10. 6 Other hospitals in Holy Cross' market are located in zip codes from which Holy Cross draws 75% of its patient admissions. These hospitals are: Encino-Tarzana Regional Medical Center - Tarzana, Henry Mayo Newhall Memorial Hospital, Kaiser Panorama City, Olive View - UCLA Medical Center, Mission Community Hospital, Northridge Hospital Medical Center, Pacifica of the Valley, Providence St. Joseph Medical Center, Valley Presbyterian Hospital. 7 Figures are from Office of Statewide Health Planning and Development, Hospital Annual Financial Disclosure reports.
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Let City Councilmember Richard Alarcon know that our community wants responsible expansion of Providence Holy Cross Medical Center. Download this card and return it right away.
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