As of the July, 2022, release via CMS

MEMORIAL HEALTH SYSTEM

CMS id: 060022
1400 EAST BOULDER STREET, COLORADO SPRINGS CO 80909. County: EL PASO
System: UNIVERSITY OF COLORADO HEALTH
CBSA: Colorado Springs, CO

The 453-bed, acute-care hospital had $84,974,204 in net service to patients*, with a total profit margin of 20.82026% in fiscal year 2021, the latest year available.
It spent 3.49% of its operating expenses on uncompensated care and reported $52,767,544 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	344 118	363 118	385 119.5	344 118	363 119
Total beds Median	497 162	515 162	537 162	432 162	453 163.5
FTEs Median	3,077.09 788.06	3,451.75 793.42	2,960.53 806.03	2,822.41 787.61	2,969.73 804.34

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	781,425,389 150,932,746	893,217,866 158,950,878	918,404,622 168,696,998	820,587,176 163,454,693	928,297,253 186,589,412
Operating expenses Median	754,444,619 149,311,209	863,051,527 156,110,414	772,373,991 164,890,568	793,230,313 166,516,854	843,323,049 180,120,888
Net income from service 2 patients (NS2P) ? Median	26,980,770 -964,173	30,166,339 -643,601.5	146,030,631 -116,254	27,356,863 -5,025,862	84,974,204 -1,284,564
NS2P margin ? Median	3.45% -0.62	3.38% -0.29	15.90% 0.18	3.33% -5.07	9.15% -0.88

Range* of Net Service to Patient (NS2P) margins

= NS2P margin for MEMORIAL HEALTH SYSTEM 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	28,471,108 5,089,215	23,168,431 4,572,541	11,098,299 5,268,134	103,980,985 13,092,619	85,947,723 12,369,236
⊳ Line 6: Contributions ? ⊳ Median	277,139 224,999	0 199,009	0 206,870.5	0 194,343	0 249,496
⊳ Line 7: Investments ? ⊳ Median	11,163,347 299,524	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	30,261	0	0	0	0
⊳ Line 11: Rebates and refunds of expenses	0	0	0	0	0
⊳ 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	3,499,580	0	0	0	0
⊳ 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	0	0	0	0	0
⊳ Line 19: Tuition (fees, sale of textbooks, uniforms, etc.)	1,075,255	0	0	0	0
⊳ Line 20: Revenue from gifts, flowers, coffee shops, canteen	356,526	0	0	0	0
⊳ Line 21: Rental of vending machines	0	0	0	0	0
⊳ Line 22: Rental of hospital space	103,501	0	0	0	0
⊳ Line 23: Gov appropriations ? ⊳ Median	0 1,017,693	0 983,261.5	0 1,173,286	74,659,493 1,987,202	64,039,982 1,597,664
⊳ Sum Line 24	11,965,499	23,168,431	11,098,299	29,321,492	21,907,741
Total income ? Median	55,451,878 6,586,430	53,334,770 6,767,106	157,128,930 8,419,950	131,337,848 8,094,175	170,921,927 15,162,888
Non-operating expenses Median	11,750,785 146,289.5	3,640,487 164,857	-13,813,558 89,880.5	-6,268,398 106,761	-40,246,473 31,473.5
Net income Median	43,701,093 6,043,842	49,694,283 5,845,112	170,942,488 7,606,259	137,606,246 7,283,041	211,168,400 14,957,241
Net margin Median	5.39589% 4.62%	5.42285% 4.42%	18.39074% 5.16%	14.88330% 5.2%	20.82026% 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 MEMORIAL HEALTH SYSTEM 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	91,039,144 23,241,334	98,150,072 23,709,545	103,709,543 24,248,380	99,731,679 22,858,541	108,903,383 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	86,791,684 21,577,146	93,791,057 22,041,594	98,373,306 22,722,063	93,826,115 21,570,441	102,496,274 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	4,247,460 3,535,627	4,359,015 3,746,588	5,336,237 3,782,288	5,905,564 3,865,578	6,407,109 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	52,304,864 11,160,864	59,426,948 11,987,345	65,916,206 12,926,866	64,496,743 11,884,480	70,659,184 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	52,304,864 10,918,923	59,426,948 11,706,976	65,916,206 12,615,917	64,496,743 11,458,116	70,659,184 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	35,178 3,284,314	113,096 3,250,551	161,035 3,386,837	165,549 3,360,806	203,022 3,508,953
Disproportionate-share hospital (DSH) Median	4,928,072 594,888	5,300,661 595,761	5,328,208 577,894	3,794,445 542,168	4,128,007 549,667
Outlier Median	3,683,013 582,572	3,933,820 538,116	5,725,276 212,434	580,859 126,559	877,025 139,139

Uncompensated care

Item	2017	2018	2019	2020	2021
Medicaid shortfall Median	42,412,938 3,662,910	31,313,474 3,730,911	40,223,108 4,081,319	31,338,979 4,643,908	52,767,544 4,389,147
Charity care Median	16,867,424 2,654,636	12,068,894 2,940,659	15,850,932 3,380,215	18,218,897 3,488,738	15,848,429 3,233,405
Uncompensated care (UCC) Median	24,932,745 5,147,790	17,654,763 5,337,617	21,773,844 5,711,082	24,752,101 5,923,418	29,431,774 5,508,107
UCC as a % of operating expenses Median	3.30% 3.24	2.05% 3.12	2.82% 3.21	3.12% 3.3	3.49% 2.86
Total shortfall/UCC Median	67,345,683 9,489,989	48,968,237 9,424,297	61,996,952 10,120,158	56,091,080 11,171,337	82,199,318 10,133,851

Labor costs

	2017	2018	2019	2020	2021
Total salaries Median	258,543,320 52,142,039	311,919,865 54,485,252	214,386,132 57,395,589	219,024,681 58,830,919	240,803,148 61,722,907
Salaries as a % of operating expenses Median	34.27 36.68	36.14 36.56	27.76 36.37	27.61 35.93	28.55 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	382,902 1,251,927	442,038 1,186,494	498,976 1,204,885	721,968 1,279,653	732,357 1,469,317
Contract adjusted salaries, direct-care Median	30,676,864 1,449,244	35,570,318 1,475,986	31,334,063 1,563,078	5,461,908 1,721,954	3,752,502 2,991,828
Contract hours, direct-care Median	635,479.00 22,725	716,747.00 23,018.5	641,178.00 24,503.48	97,444.00 25,026.5	75,265.00 33,786
Contract wages, direct-care Median	48.27 64.67	49.63 64.53	48.87 65.06	56.05 68.97	49.86 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.