As of the July, 2022, release via CMS

FORT WALTON BEACH MEDICAL CTR

CMS id: 100223
1000 MAR-WALT DRIVE, FORT WALTON BEACH FL 32547. County: OKALOOSA
System: HCA
CBSA: Crestview-Fort Walton Beach-Destin, FL

The 267-bed, acute-care hospital had $121,518,268 in net service to patients*, with a total profit margin of 37.52775% in fiscal year 2021, the latest year available.
It spent 10.17% of its operating expenses on uncompensated care and reported $9,732,696 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	150 118	150 118	150 119.5	150 118	150 119
Total beds Median	257 162	257 162	267 162	267 162	267 163.5
FTEs Median	761.81 788.06	759.70 793.42	847.98 806.03	866.97 787.61	803.52 804.34

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	236,277,977 150,932,746	262,429,456 158,950,878	309,686,664 168,696,998	303,674,582 163,454,693	326,964,508 186,589,412
Operating expenses Median	179,242,201 149,311,209	188,755,655 156,110,414	213,636,625 164,890,568	216,461,598 166,516,854	205,446,240 180,120,888
Net income from service 2 patients (NS2P) ? Median	57,035,776 -964,173	73,673,801 -643,601.5	96,050,039 -116,254	87,212,984 -5,025,862	121,518,268 -1,284,564
NS2P margin ? Median	24.14% -0.62	28.07% -0.29	31.02% 0.18	28.72% -5.07	37.17% -0.88

Range* of Net Service to Patient (NS2P) margins

= NS2P margin for FORT WALTON BEACH MEDICAL CTR 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	2,022,824 5,089,215	2,122,255 4,572,541	2,086,107 5,268,134	2,317,824 13,092,619	1,895,475 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	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	418,296	443,073	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	19	0	0	0
⊳ Line 18: Revenue from sale of medical records and abstracts	2,844	3,185	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	17,152	20,360	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	1,584,532	1,655,618	2,086,107	2,317,824	1,895,475
Total income ? Median	59,058,600 6,586,430	75,796,056 6,767,106	98,136,146 8,419,950	89,530,808 8,094,175	123,413,743 15,162,888
Non-operating expenses Median	0 146,289.5	-10 164,857	0 89,880.5	0 106,761	0 31,473.5
Net income Median	59,058,600 6,043,842	75,796,066 5,845,112	98,136,146 7,606,259	89,530,808 7,283,041	123,413,743 14,957,241
Net margin Median	24.78322% 4.62%	28.65076% 4.42%	31.47682% 5.16%	29.25916% 5.2%	37.52775% 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 FORT WALTON BEACH MEDICAL CTR 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	53,871,690 23,241,334	58,403,853 23,709,545	61,686,695 24,248,380	62,976,471 22,858,541	62,349,775 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	46,291,412 21,577,146	50,868,042 22,041,594	54,304,144 22,722,063	54,339,922 21,570,441	53,181,161 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	3,139,319 1,845,420	2,674,294 1,757,392	2,861,843 1,738,842	2,290,097 1,510,463	2,662,584 1,393,140
⊳ Inpatient rehabilitation facility (IRF) ⊳ Median	4,440,959 3,535,627	4,861,517 3,746,588	4,520,708 3,782,288	6,346,452 3,865,578	6,506,030 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	13,596,048 11,160,864	16,341,010 11,987,345	18,253,921 12,926,866	17,596,297 11,884,480	20,124,337 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	13,596,048 10,918,923	16,341,010 11,706,976	18,253,921 12,615,917	17,596,297 11,458,116	20,124,337 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	0 3,284,314	0 3,250,551	0 3,386,837	0 3,360,806	0 3,508,953
Disproportionate-share hospital (DSH) Median	1,273,224 594,888	1,259,534 595,761	1,800,532 577,894	932,997 542,168	797,252 549,667
Outlier Median	755,097 582,572	666,068 538,116	533,974 212,434	166,027 126,559	154,809 139,139

Uncompensated care

Item	2017	2018	2019	2020	2021
Medicaid shortfall Median	10,226,270 3,662,910	10,134,528 3,730,911	13,578,896 4,081,319	14,383,113 4,643,908	9,732,696 4,389,147
Charity care Median	17,162,852 2,654,636	14,261,909 2,940,659	18,111,877 3,380,215	21,891,468 3,488,738	18,731,406 3,233,405
Uncompensated care (UCC) Median	19,412,324 5,147,790	16,581,826 5,337,617	20,544,552 5,711,082	24,415,611 5,923,418	20,901,418 5,508,107
UCC as a % of operating expenses Median	10.83% 3.24	8.78% 3.12	9.62% 3.21	11.28% 3.3	10.17% 2.86
Total shortfall/UCC Median	29,638,594 9,489,989	26,716,354 9,424,297	34,123,448 10,120,158	38,798,724 11,171,337	30,634,114 10,133,851

Labor costs

	2017	2018	2019	2020	2021
Total salaries Median	48,894,661 52,142,039	50,881,692 54,485,252	59,172,820 57,395,589	61,197,282 58,830,919	58,636,720 61,722,907
Salaries as a % of operating expenses Median	27.16 36.68	26.90 36.56	27.63 36.37	28.19 35.93	28.46 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	0 1,251,927	0 1,186,494	0 1,204,885	0 1,279,653	0 1,469,317
Contract adjusted salaries, direct-care Median	7,775,581 1,449,244	10,975,930 1,475,986	12,890,367 1,563,078	14,240,370 1,721,954	19,787,997 2,991,828
Contract hours, direct-care Median	132,109.00 22,725	196,719.00 23,018.5	230,803.00 24,503.48	251,419.00 25,026.5	336,450.49 33,786
Contract wages, direct-care Median	58.86 64.67	55.79 64.53	55.85 65.06	56.64 68.97	58.81 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.