Financial and community report
A nonprofit that serves the community
As a nonprofit, locally owned organization, Legacy Health exists to serve. Fittingly, we present our financial numbers as a service to the public.
Our financial summary for the most recent fiscal year shows how much money we contribute to help the community.
In reviewing our financials, remember that Legacy is a nonprofit organization; the money we make from our margin is reinvested into the organization to ensure that we can offer quality care and be stable for the future.
Our role is to be here for the community with the best health care available. It is a responsibility we take seriously.
$263 million of care to those in need
Also, you may notice that we provide a large amount of “charity care” each year –– health care to those who cannot afford it, have no insurance or not enough insurance. For fiscal year 2013, the cost of such care to Legacy was $66 million. Legacy provides about a third of the charity care in the Portland-Vancouver area; a higher percentage of our total business than any other health system in the metro area.
Plus, we had another $197 million in unreimbursed costs related to providing services to Medicare and Medicaid beneficiaries.
Charity care and services to Medicare and Medicaid beneficiaries bring our total costs to services for people in need for the year to more than $263 million in the most recent fiscal year.
To learn more about our efforts to help the community, go here.