As of the July, 2022, release via CMS

LAWRENCE & MEMORIAL HOSPITAL

CMS id: 070007
365 MONTAUK AVENUE, NEW LONDON CT 6320. County: NEW LONDON
System: YALE NEW HAVEN HEALTH SERVICES CORP
CBSA: Norwich-New London, CT

The 252-bed, acute-care hospital had $-38,984,923 in net service to patients*, with a total profit margin of 5.85597% in fiscal year 2021, the latest year available.
It spent 1.60% of its operating expenses on uncompensated care and reported $24,768,030 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	185 118	203 118	203 119.5	203 118	203 119
Total beds Median	251 162	252 162	252 162	252 162	252 163.5
FTEs Median	1,795.58 788.06	1,692.08 793.42	1,740.00 806.03	1,783.00 787.61	1,732.00 804.34

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	313,146,126 150,932,746	333,189,001 158,950,878	366,570,791 168,696,998	329,749,951 163,454,693	390,752,023 186,589,412
Operating expenses Median	331,031,361 149,311,209	335,705,001 156,110,414	366,266,827 164,890,568	402,527,106 166,516,854	429,736,946 180,120,888
Net income from service 2 patients (NS2P) ? Median	-17,885,235 -964,173	-2,516,000 -643,601.5	303,964 -116,254	-72,777,155 -5,025,862	-38,984,923 -1,284,564
NS2P margin ? Median	-5.71% -0.62	-0.76% -0.29	0.08% 0.18	-22.07% -5.07	-9.98% -0.88

Range* of Net Service to Patient (NS2P) margins

= NS2P margin for LAWRENCE & MEMORIAL 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	29,358,235 5,089,215	23,510,000 4,572,541	21,877,081 5,268,134	60,933,751 13,092,619	65,715,527 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	6,873,037 299,524	4,120,000 188,688.5	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	4,697	15,870	0	0	0
⊳ Line 11: Rebates and refunds of expenses	70,942	4,964	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	1,292,865	595,717	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	703,049	2,814,778	0	0	0
⊳ Line 18: Revenue from sale of medical records and abstracts	95,137	113,355	0	0	0
⊳ Line 19: Tuition (fees, sale of textbooks, uniforms, etc.)	0	0	0	0	0
⊳ Line 20: Revenue from gifts, flowers, coffee shops, canteen	131,101	133,885	0	0	0
⊳ Line 21: Rental of vending machines	0	0	0	0	0
⊳ Line 22: Rental of hospital space	1,641,139	1,952,046	0	0	0
⊳ Line 23: Gov appropriations ? ⊳ Median	706,752 1,017,693	538,773 983,261.5	0 1,173,286	0 1,987,202	0 1,597,664
⊳ Sum Line 24	17,839,516	13,220,612	21,877,081	60,933,751	65,715,527
Total income ? Median	11,473,000 6,586,430	20,994,000 6,767,106	22,181,045 8,419,950	-11,843,404 8,094,175	26,730,604 15,162,888
Non-operating expenses Median	0 146,289.5	0 164,857	0 89,880.5	0 106,761	0 31,473.5
Net income Median	11,473,000 6,043,842	20,994,000 5,845,112	22,181,045 7,606,259	-11,843,404 7,283,041	26,730,604 14,957,241
Net margin Median	3.34974% 4.62%	5.88563% 4.42%	5.71017% 5.16%	-3.03146% 5.2%	5.85597% 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 LAWRENCE & MEMORIAL 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	64,782,397 23,241,334	58,139,570 23,709,545	60,318,020 24,248,380	52,809,411 22,858,541	48,311,806 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	58,804,390 21,577,146	54,211,245 22,041,594	56,219,901 22,722,063	48,834,953 21,570,441	45,111,852 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	1,289,109 1,845,420	0 1,757,392	0 1,738,842	0 1,510,463	0 1,393,140
⊳ Inpatient rehabilitation facility (IRF) ⊳ Median	4,688,898 3,535,627	3,928,325 3,746,588	4,098,119 3,782,288	3,974,458 3,865,578	3,199,954 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	37,856,415 11,160,864	37,991,480 11,987,345	40,055,267 12,926,866	32,979,371 11,884,480	37,551,515 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	37,856,415 10,918,923	37,991,480 11,706,976	40,055,267 12,615,917	32,979,371 11,458,116	37,551,515 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	207,806 3,284,314	195,776 3,250,551	211,022 3,386,837	189,421 3,360,806	181,194 3,508,953
Disproportionate-share hospital (DSH) Median	1,460,892 594,888	1,609,150 595,761	1,663,311 577,894	1,366,586 542,168	1,225,525 549,667
Outlier Median	1,529,868 582,572	1,125,369 538,116	743,901 212,434	413,888 126,559	450,850 139,139

Uncompensated care

Item	2017	2018	2019	2020	2021
Medicaid shortfall Median	14,013,518 3,662,910	22,458,864 3,730,911	17,554,898 4,081,319	30,803,945 4,643,908	24,768,030 4,389,147
Charity care Median	1,801,270 2,654,636	3,916,597 2,940,659	3,838,555 3,380,215	7,544,501 3,488,738	4,525,885 3,233,405
Uncompensated care (UCC) Median	2,671,794 5,147,790	7,009,677 5,337,617	5,976,723 5,711,082	8,986,731 5,923,418	6,891,428 5,508,107
UCC as a % of operating expenses Median	0.81% 3.24	2.09% 3.12	1.63% 3.21	2.23% 3.3	1.60% 2.86
Total shortfall/UCC Median	16,685,312 9,489,989	29,468,541 9,424,297	23,531,621 10,120,158	39,790,676 11,171,337	31,659,458 10,133,851

Labor costs

	2017	2018	2019	2020	2021
Total salaries Median	138,962,608 52,142,039	134,216,381 54,485,252	145,944,839 57,395,589	155,143,214 58,830,919	156,241,397 61,722,907
Salaries as a % of operating expenses Median	42.06 36.68	40.06 36.56	39.85 36.37	38.54 35.93	36.36 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	124,308 1,251,927	91,749 1,186,494	97,275 1,204,885	0 1,279,653	99,273 1,469,317
Contract adjusted salaries, direct-care Median	2,723,812 1,449,244	585,321 1,475,986	965,250 1,563,078	0 1,721,954	751,361 2,991,828
Contract hours, direct-care Median	28,784.00 22,725	7,106.00 23,018.5	12,876.00 24,503.48	0.00 25,026.5	6,325.00 33,786
Contract wages, direct-care Median	94.63 64.67	82.37 64.53	74.97 65.06	0.00 68.97	118.79 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.