Association of bond, market, operational, and financial factors with multi-hospital system bond issues

J Health Care Finance. 2001 Winter;28(2):26-34.

Abstract

Despite the growth of multi-hospital systems in the 1990s, their performance in the tax-exempt bond market has not been adequately evaluated. The purpose of this study is to compare bonds issued by multi-hospital systems to those issued by individual hospitals in terms of bond, market, operational, and financial characteristics. The study sample includes 2,078 newly issued, tax-exempt, revenue bonds between 1991 and 1997. The findings indicate that multi-hospital systems issued larger amounts of debt at a lower cost, were more likely to be insured, had higher debt service coverage and higher operating margins.

Publication types

  • Comparative Study

MeSH terms

  • Benchmarking
  • Capital Financing / statistics & numerical data*
  • Financial Management, Hospital / statistics & numerical data*
  • Health Care Sector
  • Income / statistics & numerical data
  • Investments
  • Logistic Models
  • Multi-Institutional Systems / economics*
  • Multi-Institutional Systems / statistics & numerical data
  • Tax Exemption
  • United States