Last week, Moody’s Investors Service issued its annual medians report for nonprofit hospitals, finding that providers had a strong balance sheet in fiscal year 2012 but profitability metrics were down compared with FY 2011.

For the first time since FY 2008, Moody’s found expenses outpaced revenue in nonprofit hospitals and health systems. Overall, median operating revenue growth dropped from 5.4 percent in 2011 to 5.2 percent in 2012. Net patient revenue growth dropped to 4.7 percent, more than a half-percent lower from 2011.

Balance sheets remained strong due to better returns from investments and more prudent capital spending — and Moody’s analysts said strong cash reserves are “an important credit factor while operating in a period of unpredictability.”

Several other trends bubbled to the surface after analyzing Moody’s most recent hospital metrics, including the following: click here to read the list.