As of the July, 2022, release via CMS

SWEDISH MEDICAL CENTER

CMS id: 060034
501 EAST HAMPDEN AVENUE, ENGLEWOOD CO 80113. County: ARAPAHOE
System: HCA
CBSA: Denver-Aurora-Lakewood, CO

The 371-bed, acute-care hospital had $212,779,665 in net service to patients*, with a total profit margin of 31.08760% in fiscal year 2021, the latest year available.
It spent 3.00% of its operating expenses on uncompensated care and reported $39,821,344 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	forprofit	forprofit	forprofit	forprofit	forprofit
Acute beds Median	280 118	281 118	252 119.5	270 118	259 119
Total beds Median	367 162	372 162	348 162	382 162	371 163.5
FTEs Median	1,690.46 788.06	1,695.55 793.42	1,675.46 806.03	1,618.85 787.61	1,640.43 804.34

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	574,764,688 150,932,746	619,211,405 158,950,878	625,803,835 168,696,998	622,242,999 163,454,693	689,192,355 186,589,412
Operating expenses Median	302,588,138 149,311,209	287,346,049 156,110,414	470,433,136 164,890,568	463,843,664 166,516,854	476,412,690 180,120,888
Net income from service 2 patients (NS2P) ? Median	272,176,550 -964,173	331,865,356 -643,601.5	155,370,699 -116,254	158,399,335 -5,025,862	212,779,665 -1,284,564
NS2P margin ? Median	47.35% -0.62	53.59% -0.29	24.83% 0.18	25.46% -5.07	30.87% -0.88

Range* of Net Service to Patient (NS2P) margins

= NS2P margin for SWEDISH MEDICAL CENTER 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	2,307,278 5,089,215	1,863,279 4,572,541	1,990,153 5,268,134	1,430,539 13,092,619	2,138,512 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	429	--	--	--	--
⊳ Line 10: Purchase discounts	0	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	1,313,649	1,178,153	1,174,136	817,641	685,421
⊳ Line 15: Revenue from rental of living quarters	4,800	4,800	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	14	0	0	0	0
⊳ Line 19: Tuition (fees, sale of textbooks, uniforms, etc.)	227,568	39,200	0	0	0
⊳ Line 20: Revenue from gifts, flowers, coffee shops, canteen	0	0	0	0	1
⊳ Line 21: Rental of vending machines	0	0	0	8,299	9,550
⊳ Line 22: Rental of hospital space	0	0	233,271	235,209	238,432
⊳ Line 23: Gov appropriations ? ⊳ Median	0 1,017,693	0 983,261.5	0 1,173,286	292,361 1,987,202	327,622 1,597,664
⊳ Sum Line 24	760,818	640,758	582,562	77,029	877,486
Total income ? Median	274,483,828 6,586,430	333,728,635 6,767,106	157,360,852 8,419,950	159,829,874 8,094,175	214,918,177 15,162,888
Non-operating expenses Median	0 146,289.5	0 164,857	73 89,880.5	-11 106,761	0 31,473.5
Net income Median	274,483,828 6,043,842	333,728,635 5,845,112	157,360,779 7,606,259	159,829,885 7,283,041	214,918,177 14,957,241
Net margin Median	47.56492% 4.62%	53.73406% 4.42%	25.06567% 5.16%	25.62717% 5.2%	31.08760% 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 SWEDISH MEDICAL CENTER 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	73,867,238 23,241,334	74,546,964 23,709,545	78,753,157 24,248,380	81,368,092 22,858,541	85,272,136 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	68,702,210 21,577,146	69,450,981 22,041,594	73,247,203 22,722,063	73,962,612 21,570,441	77,043,766 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	5,165,028 3,535,627	5,095,983 3,746,588	5,505,954 3,782,288	7,405,480 3,865,578	8,228,370 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	16,499,947 11,160,864	17,655,899 11,987,345	18,635,364 12,926,866	15,958,956 11,884,480	17,806,761 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	16,499,947 10,918,923	17,655,899 11,706,976	18,635,364 12,615,917	15,958,956 11,458,116	17,806,761 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	2,292,184 3,284,314	2,744,548 3,250,551	3,148,872 3,386,837	3,657,861 3,360,806	4,206,825 3,508,953
Disproportionate-share hospital (DSH) Median	1,938,052 594,888	1,963,049 595,761	2,048,882 577,894	1,908,595 542,168	1,897,852 549,667
Outlier Median	4,826,838 582,572	3,794,159 538,116	1,028,993 212,434	1,339,314 126,559	1,452,199 139,139

Uncompensated care

Item	2017	2018	2019	2020	2021
Medicaid shortfall Median	25,992,891 3,662,910	26,720,541 3,730,911	28,415,318 4,081,319	33,490,498 4,643,908	39,821,344 4,389,147
Charity care Median	10,535,315 2,654,636	10,484,355 2,940,659	12,164,276 3,380,215	12,151,197 3,488,738	12,607,180 3,233,405
Uncompensated care (UCC) Median	12,457,510 5,147,790	12,061,695 5,337,617	13,917,686 5,711,082	14,022,188 5,923,418	14,316,177 5,508,107
UCC as a % of operating expenses Median	4.12% 3.24	4.20% 3.12	2.96% 3.21	3.02% 3.3	3.00% 2.86
Total shortfall/UCC Median	38,450,401 9,489,989	38,782,236 9,424,297	42,333,004 10,120,158	47,512,686 11,171,337	54,137,521 10,133,851

Labor costs

	2017	2018	2019	2020	2021
Total salaries Median	128,001,738 52,142,039	132,877,888 54,485,252	134,298,228 57,395,589	131,652,279 58,830,919	141,395,945 61,722,907
Salaries as a % of operating expenses Median	41.94 36.68	46.11 36.56	28.48 36.37	28.33 35.93	29.65 35.24
Intern, resident salaries* Median	509,698 2,598,592	925,725 2,686,824	978,862 2,753,773	1,040,080 2,937,156	1,367,387 2,909,848
Contract intern, resident salaries* Median	1,851,778 1,251,927	424,842 1,186,494	197,522 1,204,885	0 1,279,653	0 1,469,317
Contract adjusted salaries, direct-care Median	7,122,105 1,449,244	5,465,805 1,475,986	3,940,841 1,563,078	4,794,285 1,721,954	10,589,758 2,991,828
Contract hours, direct-care Median	152,704.00 22,725	116,722.00 23,018.5	86,792.00 24,503.48	81,524.00 25,026.5	173,286.00 33,786
Contract wages, direct-care Median	46.64 64.67	46.83 64.53	45.41 65.06	58.81 68.97	61.11 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.