As of the July, 2022, release via CMS

MOUNT SINAI MEDICAL CENTER OF FLORID

CMS id: 100034
4300 ALTON ROAD, MIAMI BEACH FL 33140. County: MIAMI-DADE
System: --
CBSA: Miami-Fort Lauderdale-Pompano Beach, FL

The 597-bed, acute-care hospital had $112,593,059 in net service to patients*, with a total profit margin of 4.20326% in fiscal year 2021, the latest year available.
It spent 4.57% of its operating expenses on uncompensated care and reported $0 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	408 118	401 118	389 119.5	389 118	389 119
Total beds Median	596 162	589 162	597 162	597 162	597 163.5
FTEs Median	4,253.45 788.06	4,154.36 793.42	4,381.16 806.03	4,345.60 787.61	4,204.02 804.34

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	566,546,219 150,932,746	586,853,213 158,950,878	639,041,723 168,696,998	648,487,557 163,454,693	847,348,006 186,589,412
Operating expenses Median	572,907,193 149,311,209	595,689,738 156,110,414	654,830,261 164,890,568	644,714,212 166,516,854	734,754,947 180,120,888
Net income from service 2 patients (NS2P) ? Median	-6,360,974 -964,173	-8,836,525 -643,601.5	-15,788,538 -116,254	3,773,345 -5,025,862	112,593,059 -1,284,564
NS2P margin ? Median	-1.12% -0.62	-1.51% -0.29	-2.47% 0.18	0.58% -5.07	13.29% -0.88

Range* of Net Service to Patient (NS2P) margins

= NS2P margin for MOUNT SINAI MEDICAL CENTER OF FLORID 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	93,027,997 5,089,215	109,152,194 4,572,541	103,779,390 5,268,134	90,785,244 13,092,619	39,376,184 12,369,236
⊳ Line 6: Contributions ? ⊳ Median	0 224,999	0 199,009	0 206,870.5	1,498,464 194,343	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	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	0	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.)	0	0	0	0	0
⊳ Line 20: Revenue from gifts, flowers, coffee shops, canteen	0	0	0	0	0
⊳ Line 21: Rental of vending machines	0	0	0	0	0
⊳ Line 22: Rental of hospital space	0	0	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	93,027,997	109,152,194	103,779,390	89,286,780	39,376,184
Total income ? Median	86,667,023 6,586,430	100,315,669 6,767,106	87,990,852 8,419,950	94,558,589 8,094,175	151,969,243 15,162,888
Non-operating expenses Median	73,146,177 146,289.5	71,882,686 164,857	83,948,418 89,880.5	98,109,444 106,761	114,697,928 31,473.5
Net income Median	13,520,846 6,043,842	28,432,983 5,845,112	4,042,434 7,606,259	-3,550,855 7,283,041	37,271,315 14,957,241
Net margin Median	2.04994% 4.62%	4.08517% 4.42%	0.54420% 5.16%	-0.48032% 5.2%	4.20326% 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 MOUNT SINAI MEDICAL CENTER OF FLORID 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	100,318,324 23,241,334	95,591,812 23,709,545	101,664,755 24,248,380	95,038,289 22,858,541	103,466,736 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	86,174,431 21,577,146	82,572,393 22,041,594	90,125,673 22,722,063	84,945,278 21,570,441	93,109,276 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	3,781,136 1,845,420	3,176,632 1,757,392	2,220,763 1,738,842	1,735,939 1,510,463	2,242,205 1,393,140
⊳ Inpatient rehabilitation facility (IRF) ⊳ Median	10,362,757 3,535,627	9,842,787 3,746,588	9,318,319 3,782,288	8,357,072 3,865,578	8,115,255 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	38,314,001 11,160,864	39,592,960 11,987,345	39,213,286 12,926,866	31,958,986 11,884,480	33,721,617 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	38,314,001 10,918,923	39,592,960 11,706,976	39,213,286 12,615,917	31,958,986 11,458,116	33,721,617 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	14,964,865 3,284,314	14,644,893 3,250,551	15,608,568 3,386,837	14,963,700 3,360,806	15,709,301 3,508,953
Disproportionate-share hospital (DSH) Median	2,160,859 594,888	1,946,121 595,761	1,975,762 577,894	2,400,717 542,168	2,631,600 549,667
Outlier Median	1,859,961 582,572	1,222,716 538,116	239,470 212,434	280,012 126,559	264,313 139,139

Uncompensated care

Item	2017	2018	2019	2020	2021
Medicaid shortfall Median	0 3,662,910	0 3,730,911	0 4,081,319	0 4,643,908	0 4,389,147
Charity care Median	13,788,113 2,654,636	19,839,645 2,940,659	20,477,757 3,380,215	20,020,866 3,488,738	19,293,531 3,233,405
Uncompensated care (UCC) Median	24,037,795 5,147,790	29,706,114 5,337,617	32,470,072 5,711,082	34,955,758 5,923,418	33,581,285 5,508,107
UCC as a % of operating expenses Median	4.20% 3.24	4.99% 3.12	4.96% 3.21	5.42% 3.3	4.57% 2.86
Total shortfall/UCC Median	24,037,795 9,489,989	29,706,114 9,424,297	32,470,072 10,120,158	34,955,758 11,171,337	33,581,285 10,133,851

Labor costs

	2017	2018	2019	2020	2021
Total salaries Median	258,794,765 52,142,039	263,587,448 54,485,252	273,928,196 57,395,589	278,560,371 58,830,919	315,702,347 61,722,907
Salaries as a % of operating expenses Median	45.17 36.68	44.25 36.56	41.83 36.37	43.21 35.93	42.97 35.24
Intern, resident salaries* Median	9,257,141 2,598,592	9,634,346 2,686,824	10,514,982 2,753,773	11,277,533 2,937,156	12,659,756 2,909,848
Contract intern, resident salaries* Median	783,091 1,251,927	829,264 1,186,494	631,529 1,204,885	451,051 1,279,653	497,242 1,469,317
Contract adjusted salaries, direct-care Median	2,784,882 1,449,244	2,584,396 1,475,986	2,667,676 1,563,078	3,329,775 1,721,954	19,560,804 2,991,828
Contract hours, direct-care Median	71,881.83 22,725	65,054.05 23,018.5	64,439.03 24,503.48	64,754.18 25,026.5	203,497.86 33,786
Contract wages, direct-care Median	38.74 64.67	39.73 64.53	41.40 65.06	51.42 68.97	96.12 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.