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          Illustration of business people chasing flying money with butterfly nets
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          SAN FRANCISCO — Hospital leaders spent a good chunk of their stage time at the J.P. Morgan Healthcare Conference talking up their billions in cash and investment reserves.
          It’s a decidedly different message than the one they convey to their communities, or to Congress when they lobby for more funding. But at the high-profile health care industry conference here, nonprofit health systems need to sell investors on their message of strength and resilience. And since they certainly can’t do that by focusing on patient care — an area where they’re barely breaking even or losing money — cash and investments is the way to do it.
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          “For those of you who hold our debt, taxable and tax-exempt, thank you,” John Mordach, the chief financial officer of Jefferson Health, said during his presentation on Tuesday. “For those who don’t, I think we’re a great, undervalued investment and we get a great return.”
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