As of the July, 2022, release via CMS

KECK HOSPITAL OF USC

CMS id: 050696
1500 SAN PABLO STREET, LOS ANGELES CA 90033. County: LOS ANGELES
System: USC HEALTH SYSTEM
CBSA: Los Angeles-Long Beach-Anaheim, CA

The 331-bed, acute-care hospital had $-152,621,238 in net service to patients*, with a total profit margin of -5.90698% in fiscal year 2021, the latest year available.
It spent 0.52% of its operating expenses on uncompensated care and reported $35,149,885 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	273
Ownership	nfp	nfp	nfp	nfp	nfp
Acute beds Median	219 118	219 118	219 119.5	219 118	219 119
Total beds Median	323 162	330 162	331 162	331 162	331 163.5
FTEs Median	2,476.00 788.06	1,960.69 793.42	3,350.13 806.03	3,634.49 787.61	3,961.57 804.34

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	907,785,349 150,932,746	1,047,720,526 158,950,878	1,144,530,353 168,696,998	1,130,432,559 163,454,693	921,861,845 186,589,412
Operating expenses Median	961,167,819 149,311,209	1,111,321,759 156,110,414	1,217,269,337 164,890,568	1,319,108,674 166,516,854	1,074,483,083 180,120,888
Net income from service 2 patients (NS2P) ? Median	-53,382,470 -964,173	-63,601,233 -643,601.5	-72,738,984 -116,254	-188,676,115 -5,025,862	-152,621,238 -1,284,564
NS2P margin ? Median	-5.88% -0.62	-6.07% -0.29	-6.36% 0.18	-16.69% -5.07	-16.56% -0.88

Range* of Net Service to Patient (NS2P) margins

= NS2P margin for KECK HOSPITAL OF USC 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	38,033,688 5,089,215	48,402,369 4,572,541	68,692,869 5,268,134	157,351,721 13,092,619	92,691,796 12,369,236
⊳ Line 6: Contributions ? ⊳ Median	0 224,999	0 199,009	0 206,870.5	0 194,343	0 249,496
⊳ Line 7: Investments ? ⊳ Median	0 299,524	0 188,688.5	0 370,813	0 309,361.5	0 375,329
⊳ Line 8: Revenue from telephone service	NULL	NULL	NULL	NULL	NULL
⊳ Line 9: Revenue from tv and radio	--	--	--	--	--
⊳ Line 10: Purchase discounts	33,727	3,637	5,545	5,224	460
⊳ Line 11: Rebates and refunds of expenses	0	0	0	0	0
⊳ Line 12: Parking lot receipts	2,652,292	3,175,677	0	1,441,213	1,006,295
⊳ Line 13: Revenue from laundry and linen service	0	0	0	0	0
⊳ Line 14: Revenue from meals sold to emplyees and guests	3,472,641	3,543,217	3,526,359	2,894,193	1,750,550
⊳ 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	81,941,588	79,025,147
⊳ Line 18: Revenue from sale of medical records and abstracts	14,862	15,104	0	4,051	3,478
⊳ Line 19: Tuition (fees, sale of textbooks, uniforms, etc.)	21,032	15,760	0	0	0
⊳ Line 20: Revenue from gifts, flowers, coffee shops, canteen	0	0	0	0	0
⊳ Line 21: Rental of vending machines	17,129	21,374	20,058	18,832	9,353
⊳ Line 22: Rental of hospital space	7,715	7,715	0	7,715	5,786
⊳ 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	31,814,290	41,619,885	65,140,907	71,038,905	10,890,727
Total income ? Median	-15,348,782 6,586,430	-15,198,864 6,767,106	-4,046,115 8,419,950	-31,324,394 8,094,175	-59,929,442 15,162,888
Non-operating expenses Median	0 146,289.5	0 164,857	0 89,880.5	-110,578 106,761	0 31,473.5
Net income Median	-15,348,782 6,043,842	-15,198,864 5,845,112	-4,046,115 7,606,259	-31,213,816 7,283,041	-59,929,442 14,957,241
Net margin Median	-1.62280% 4.62%	-1.38660% 4.42%	-0.33350% 5.16%	-2.42384% 5.2%	-5.90698% 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 KECK HOSPITAL OF USC 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	179,741,046 23,241,334	189,420,956 23,709,545	203,982,443 24,248,380	194,373,400 22,858,541	164,019,206 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	173,951,413 21,577,146	182,908,005 22,041,594	198,327,244 22,722,063	189,961,522 21,570,441	158,750,394 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	5,789,633 3,535,627	6,512,951 3,746,588	5,655,199 3,782,288	4,411,878 3,865,578	5,268,812 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	70,644,314 11,160,864	88,518,884 11,987,345	99,802,826 12,926,866	89,027,796 11,884,480	70,294,875 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	70,644,314 10,918,923	88,518,884 11,706,976	99,802,826 12,615,917	89,027,796 11,458,116	70,294,875 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	20,899,900 3,284,314	22,786,175 3,250,551	24,395,106 3,386,837	23,893,393 3,360,806	19,510,051 3,508,953
Disproportionate-share hospital (DSH) Median	4,726,351 594,888	5,337,930 595,761	5,480,153 577,894	5,201,930 542,168	4,135,184 549,667
Outlier Median	30,972,564 582,572	37,197,683 538,116	7,928,454 212,434	6,060,143 126,559	5,365,614 139,139

Uncompensated care

Item	2017	2018	2019	2020	2021
Medicaid shortfall Median	20,022,667 3,662,910	13,350,536 3,730,911	9,329,019 4,081,319	14,069,632 4,643,908	35,149,885 4,389,147
Charity care Median	1,379,931 2,654,636	5,057,329 2,940,659	7,646,395 3,380,215	8,730,825 3,488,738	4,769,691 3,233,405
Uncompensated care (UCC) Median	2,647,016 5,147,790	6,014,746 5,337,617	9,368,858 5,711,082	9,827,880 5,923,418	5,569,840 5,508,107
UCC as a % of operating expenses Median	0.28% 3.24	0.54% 3.12	0.77% 3.21	0.75% 3.3	0.52% 2.86
Total shortfall/UCC Median	22,669,683 9,489,989	19,365,282 9,424,297	18,697,877 10,120,158	23,897,512 11,171,337	40,719,725 10,133,851

Labor costs

	2017	2018	2019	2020	2021
Total salaries Median	284,601,691 52,142,039	237,198,772 54,485,252	373,669,473 57,395,589	419,747,749 58,830,919	337,722,403 61,722,907
Salaries as a % of operating expenses Median	29.97 36.68	29.65 36.56	30.74 36.37	31.82 35.93	31.43 35.24
Intern, resident salaries* Median	0 2,598,592	0 2,686,824	19,216 2,753,773	151,928 2,937,156	231,244 2,909,848
Contract intern, resident salaries* Median	15,358,591 1,251,927	13,586,990 1,186,494	13,808,537 1,204,885	0 1,279,653	0 1,469,317
Contract adjusted salaries, direct-care Median	31,185,309 1,449,244	33,246,610 1,475,986	7,505,999 1,563,078	17,239,877 1,721,954	20,416,581 2,991,828
Contract hours, direct-care Median	525,040.00 22,725	725,106.00 23,018.5	84,162.00 24,503.48	185,606.00 25,026.5	146,561.00 33,786
Contract wages, direct-care Median	59.40 64.67	45.85 64.53	89.19 65.06	92.88 68.97	139.30 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.