March 29, 2016

Tuesday's Number :Q1 2016 Recap

This morning's $600K Tuesday's Number was the last of the quarter, which brings us to the recap. 

Have you been paying attention as we ran up the totals over the past thirteen weeks?  How do you think we did? 

Well, let's take a look at the numbers: There were 241 judgments, for $4,208,313; eleven satisfied judgments, for a credit of $155,242, and another eleven bankruptcies for $236,317. The grand total? 263 filings, for a net total of $4,289,388. 

Here's how the numbers compare to prior first quarters:

  • This is the lowest opening quarter we've had for total dollars; the previous low was in 2014, at $5,163,376. The highest was in 2013, with $6,992,112. 
  • The number of filings is up one over Q1 2015, up 10 over Q1 2014, and down 48 from Q1 2013. 
  • Only one of the four local hospitals - Crouse - had an increase in net filings, but the increase was only $2,705 over last year's Q1 number.  
  • The net of all filings for St Joe's was the lowest ever, not just the lowest first quarter number.  
  • The amount of satisfied judgments continues to lag behind the amount of bankruptcies, but the ratio was better than it has been in a couple of years. Repayments were 59% of the 'never payments', compared to only 35% last year and 39% in 2014. 
  • The total for this quarter is up a mere $20,571 over Q4 2015.

While I continue to be disappointed in the low repayments and relatively high bankruptcies, in the overall scheme of things, we didn't fare too badly. Let's hope for continued improvement going forward.