As of the July, 2022, release via CMS

GOLETA VALLEY COTTAGE HOSPITAL

CMS id: 050357
351 SOUTH PATTERSON AVENUE, SANTA BARBARA CA 93160. County: SANTA BARBARA
System: COTTAGE HEALTH SYSTEM
CBSA: Santa Maria-Santa Barbara, CA

The 24-bed, acute-care hospital had $14,562,653 in net service to patients*, with a total profit margin of 22.23577% in fiscal year 2021, the latest year available.
It spent 2.04% of its operating expenses on uncompensated care and reported $6,690,151 in Medicaid shortfall.

* For more about Net Service to Patients and operating revenue, please the finance section below.

Note: Medians are from acute-care hospitals with "complete" fiscal years. For more about how we calculated medians and cost reports in general, please click here.

Details

	2017	2018	2019	2020	2021
# of days in fyear	365	365	365	366	365
Ownership	nfp	nfp	nfp	nfp	nfp
Acute beds Median	20 118	20 118	20 119.5	20 118	20 119
Total beds Median	28 162	28 162	28 162	28 162	24 163.5
FTEs Median	277.97 788.06	285.92 793.42	295.47 806.03	292.27 787.61	306.35 804.34

Finances As they appear in worksheet G3 of the cost reports.

Note: Net Patient Revenue is considered operating revenue, which means Net Service to Patients is considered operating profit. Click here for more about cost report financials

Hospital cost reports are an enormously complicated dataset. There are whole organizations and an offical CMS vendor dedicated to helping researchers work with the data.
It's important to understand that hospital financials in cost reports are not organized in the same as other sources such as annual financial reports to bond holders.

The biggest difference is the concept of operating revenue and profit. Net Service to patients (NS2P), which is the sum of net patient revenue minus operating expenses, is considered the equivalent of operating profit according to the Medicaid and CHIP Payment and Access Commission (MACPAC). See the last paragraph of "Primary Data Sources" on page 55 of Annual Analysis of Disproportionate Share Hospital Allotments to States (PDF).

That would make Net Patient Revenue = operating revenue.

All this makes things challenging when comparing what's reported in cost reports to other sources. It becomes clearer when you consider that, beyond the purpose of reimbursement, cost reports are a tool for policymakers trying to understand the financial situation of a hospital doing the tasks specific to hospitals.

In other words, while a facility with a division that formulates drugs might include earnings from that as operating revenue in their corporate annual result, this is not central to the operations of a hospital caring for patients and so it is counted as "other income." (See below the financials section for more on "other income")

The healthcare consulting firm HMP, in a former partnership with Modern Healthcare, did develop a formula for estimating operating revenue closer to what one might find in other sources. We no longer use this for the following reasons:

The measure was not widely used beyond HMP and Modern Healthcare. Many hospitals had their own internal estimates of operating revenue and profit.
Because of this, there was confusion when reporting operating results for individual hospitals. There was often pushback when a facility's internal numbers did not match what Modern Healthcare was reporting.
The formula includes revenue from portions of the "other income" section, which may also include non-operating revenue. HMP themselves point out in a caveat on their site that they cannot exclude all non-operating revenue from their measure.

HMP's operating measure has proven problematic in the past for our reporting and the partnership with them ended years ago. It's best to not use a measure that we alone cannot defend.

	2017	2018	2019	2020	2021
Net patient revenue ? Median	79,016,326 150,932,746	93,920,122 158,950,878	100,958,696 168,696,998	98,163,381 163,454,693	104,452,358 186,589,412
Operating expenses Median	71,728,117 149,311,209	75,475,985 156,110,414	80,964,603 164,890,568	82,785,902 166,516,854	89,889,705 180,120,888
Net income from service 2 patients (NS2P) ? Median	7,288,209 -964,173	18,444,137 -643,601.5	19,994,093 -116,254	15,377,479 -5,025,862	14,562,653 -1,284,564
NS2P margin ? Median	9.22% -0.62	19.64% -0.29	19.80% 0.18	15.67% -5.07	13.94% -0.88

Range* of Net Service to Patient (NS2P) margins

= NS2P margin for GOLETA VALLEY COTTAGE HOSPITAL compared to all** acute-care hospitals, from CMS cost reports.
Note: NS2P is considered operating margin by MACPAC. The chart below is interactive: click or touch to see more.

* Data range does not show outliers, which fall beyond the minimum and maximum of the range.
** From cost reports with complete fiscal years. Number of acute-care hospitals available to calculate medians:

2017	2018	2019	2020	2021
3,157	3,092	3,050	3,052	2,566

	2017	2018	2019	2020	2021
Other income* Median Click here to show/hide details	10,988,466 5,089,215	557,434 4,572,541	3,397,096 5,268,134	6,284,357 13,092,619	10,121,211 12,369,236
⊳ Line 6: Contributions ? ⊳ Median	7,394,782 224,999	24,434 199,009	314,754 206,870.5	59,499 194,343	50,000 249,496
⊳ Line 7: Investments ? ⊳ Median	482,884 299,524	-206,724 188,688.5	2,396,477 370,813	3,464,978 309,361.5	6,026,938 375,329
⊳ Line 8: Revenue from telephone service	NULL	NULL	NULL	NULL	NULL
⊳ Line 9: Revenue from tv and radio	--	--	--	--	--
⊳ Line 10: Purchase discounts	0	0	0	0	0
⊳ Line 11: Rebates and refunds of expenses	0	0	0	0	80
⊳ Line 12: Parking lot receipts	0	0	0	0	0
⊳ Line 13: Revenue from laundry and linen service	0	0	0	0	0
⊳ Line 14: Revenue from meals sold to emplyees and guests	254,912	264,585	286,090	172,202	189,533
⊳ Line 15: Revenue from rental of living quarters	0	0	0	0	0
⊳ Line 16: Revenue from sale of medical and surgical supplies	0	0	0	0	0
⊳ Line 17: Revenue from sale of drugs to other than patients	0	0	0	0	0
⊳ Line 18: Revenue from sale of medical records and abstracts	212	733	728	18	0
⊳ Line 19: Tuition (fees, sale of textbooks, uniforms, etc.)	0	0	0	0	0
⊳ Line 20: Revenue from gifts, flowers, coffee shops, canteen	41,368	41,674	34,139	36,667	57,555
⊳ Line 21: Rental of vending machines	2,076	1,530	2,242	1,165	2,557
⊳ Line 22: Rental of hospital space	2,995	2,995	0	0	0
⊳ Line 23: Gov appropriations ? ⊳ Median	0 1,017,693	0 983,261.5	0 1,173,286	0 1,987,202	0 1,597,664
⊳ Sum Line 24	2,809,237	428,207	362,666	2,549,828	3,794,548
Total income ? Median	18,276,675 6,586,430	19,001,571 6,767,106	23,391,189 8,419,950	21,661,836 8,094,175	24,683,864 15,162,888
Non-operating expenses Median	1,238 146,289.5	22,914 164,857	-1,122,677 89,880.5	-1,290,105 106,761	-792,456 31,473.5
Net income Median	18,275,437 6,043,842	18,978,657 5,845,112	24,513,866 7,606,259	22,951,941 7,283,041	25,476,320 14,957,241
Net margin Median	20.30496% 4.62%	20.08801% 4.42%	23.49066% 5.16%	21.97457% 5.2%	22.23577% 9.25%

* About "Other income": Other income, or line 25 in worksheet G3, is the sum of lines 6 through 24. It includes three lines that are considered non-operating revenue - contributions, investments and government appropriations. Medians are included for these three lines. It also contains items that are not central to providing healthcare, such as revenue from parking or gift shops.
"Sum Line 24" is a special case. Called "Other (specify)" in the cost reports, CMS allows for this line to be "subscripted," or divided into sublines like 002400, 002401, 002402. And hospitals do that, up to 100 lines, to detail income (and sometimes negative returns) that are otherwise not covered in the previous "other" lines. Therefore, "Sum Line 24" is the sum of all the lines 24.

Range* of total profit (loss) margins

= Total margin for GOLETA VALLEY COTTAGE HOSPITAL compared to all** acute-care hospitals, from CMS cost reports.
The chart below is interactive: click or touch to see more.

2017	2018	2019	2020	2021
3,157	3,092	3,050	3,052	2,566

Medicare revenue

Inpatient and outpatient revenue

	2017	2018	2019	2020	2021
All inpatient revenue Median Click here to show/hide details	12,194,714 23,241,334	11,489,874 23,709,545	13,218,210 24,248,380	10,977,694 22,858,541	7,719,518 23,620,613
"All inpatient revenue" is made up of any Medicare payments for routine inpatient, swingbed SNFs, TEFRA, IPF, IRF, inpatient long-term care, CAH and inpatient SNF facilities. Medians are only calculated when there are sufficient facilities reporting revenue.
⊳ Routine inpatient revenue ⊳ Median	12,194,714 21,577,146	11,489,874 22,041,594	13,218,210 22,722,063	10,977,694 21,570,441	7,719,518 22,140,684
⊳ Swingbeds ⊳ Median	0 --	0 --	0 --	0 --	0 --
⊳ Tax Equity and Fiscal Responsibility Act payments (TEFRA) ⊳ Median	0 --	0 --	0 --	0 --	0 --
⊳ Inpatient psychiatric facility (IPF) ⊳ Median	0 1,845,420	0 1,757,392	0 1,738,842	0 1,510,463	0 1,393,140
⊳ Inpatient rehabilitation facility (IRF) ⊳ Median	0 3,535,627	0 3,746,588	0 3,782,288	0 3,865,578	0 3,983,889
⊳ Long-term care hospital (LTCH) ⊳ Median	0 --	0 --	0 --	0 --	0 --
⊳ Critical-access hospitals ⊳ Median	0 --	0 --	0 --	0 --	0 --
⊳ Skilled-nursing facilities (SNF) ⊳ Median	0 1,203,033	0 1,215,295	0 1,313,657	0 1,365,298	0 1,179,746
All outpatient revenue Median Click here to show/hide details	6,942,978 11,160,864	7,425,792 11,987,345	8,278,302 12,926,866	9,900,639 11,884,480	14,354,984 13,145,163
"All outpatient revenue" is made up of any payments for routine outpatient, HHA, CMHC, rural health and other federally-qualified health clinics. Medians are only calculated when there are sufficient facilities reporting revenue.
⊳ Routine outpatient revenue ⊳ Median	6,942,978 10,918,923	7,425,792 11,706,976	8,278,302 12,615,917	9,900,639 11,458,116	14,354,984 12,776,716
⊳ Home Health agencies (HHA) ⊳ Median	0 1,282,808	0 1,407,728	0 1,341,512	0 1,407,046	0 1,476,867
⊳ Community mental health clinics (CMHC) ⊳ Median	0 --	0 --	0 --	0 --	0 --
⊳ Rural health clinics ⊳ Median	0 618,038	0 697,279	0 690,232	0 684,010	0 670,558
⊳ Other federally qualified health clinics ⊳ Median	0 --	0 --	0 --	0 --	0 --

Other payments

Item	2017	2018	2019	2020	2021
Graduate Medical Education (GME) Median	0 3,284,314	0 3,250,551	0 3,386,837	0 3,360,806	0 3,508,953
Disproportionate-share hospital (DSH) Median	85,554 594,888	0 595,761	0 577,894	0 542,168	0 549,667
Outlier Median	606,520 582,572	471,902 538,116	157,356 212,434	162,042 126,559	192,907 139,139

Uncompensated care

Item	2017	2018	2019	2020	2021
Medicaid shortfall Median	5,464,434 3,662,910	6,014,853 3,730,911	5,448,312 4,081,319	5,983,424 4,643,908	6,690,151 4,389,147
Charity care Median	313,938 2,654,636	1,346,616 2,940,659	1,333,945 3,380,215	1,555,769 3,488,738	1,512,007 3,233,405
Uncompensated care (UCC) Median	909,677 5,147,790	1,864,676 5,337,617	1,781,562 5,711,082	1,930,985 5,923,418	1,831,042 5,508,107
UCC as a % of operating expenses Median	1.27% 3.24	2.47% 3.12	2.20% 3.21	2.33% 3.3	2.04% 2.86
Total shortfall/UCC Median	6,374,111 9,489,989	7,879,529 9,424,297	7,229,874 10,120,158	7,914,409 11,171,337	8,521,193 10,133,851

Labor costs

	2017	2018	2019	2020	2021
Total salaries Median	27,254,241 52,142,039	28,251,347 54,485,252	30,143,698 57,395,589	32,108,483 58,830,919	30,570,887 61,722,907
Salaries as a % of operating expenses Median	38.01 36.68	37.43 36.56	37.23 36.37	38.78 35.93	34.01 35.24
Intern, resident salaries* Median	0 2,598,592	0 2,686,824	0 2,753,773	0 2,937,156	0 2,909,848
Contract intern, resident salaries* Median	0 1,251,927	0 1,186,494	0 1,204,885	0 1,279,653	0 1,469,317
Contract adjusted salaries, direct-care Median	314,737 1,449,244	797,194 1,475,986	850,754 1,563,078	486,203 1,721,954	97,620 2,991,828
Contract hours, direct-care Median	4,014.00 22,725	10,021.00 23,018.5	10,734.00 24,503.48	5,159.00 25,026.5	744.00 33,786
Contract wages, direct-care Median	78.41 64.67	79.55 64.53	79.26 65.06	94.24 68.97	131.21 88.94

* in an approved program

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Cost reports are self-reported by the facility, are subject to revision and should be considered preliminary.

* Net Service to patients (NS2P) equals net patient revenue minus operating expenses. NS2P is considered the equivalent of operating profit according to the Medicaid and CHIP Payment and Access Commission (MACPAC). See the last paragraph of "Primary Data Sources" on page 55 of Annual Analysis of Disproportionate Share Hospital Allotments to States (PDF).

About medians

Medians are calculated from reports with "complete" fiscal years, or reports with fiscal years of at least 300 days and no more than 420 days.

In cases where there are fewer than 50 values reported, medians are not calculated. For childrens' hospitals, it's when fewer than 20 are reported.

Web app by Tim Broderick | email.