As of the July, 2022, release via CMS

UNIVERSITY OF CHICAGO HOSPITALS

CMS id: 140088
5841 SOUTH MARYLAND AVENUE, CHICAGO IL 60637. County: COOK
System: --
CBSA: Chicago-Naperville-Elgin, IL-IN-WI

The 678-bed, acute-care hospital had $-239,722,000 in net service to patients*, with a total profit margin of 4.02349% in fiscal year 2021, the latest year available.
It spent 1.38% of its operating expenses on uncompensated care and reported $4,414,651 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	453 118	483 118	505 119.5	505 118	505 119
Total beds Median	613 162	648 162	682 162	678 162	678 163.5
FTEs Median	7,408.34 788.06	7,748.81 793.42	7,969.06 806.03	8,013.57 787.61	8,445.77 804.34

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	1,617,557,000 150,932,746	1,683,367,000 158,950,878	1,796,247,000 168,696,998	1,742,319,000 163,454,693	1,992,346,000 186,589,412
Operating expenses Median	1,643,717,525 149,311,209	1,769,406,000 156,110,414	1,927,373,720 164,890,568	2,086,609,966 166,516,854	2,232,068,000 180,120,888
Net income from service 2 patients (NS2P) ? Median	-26,160,525 -964,173	-86,039,000 -643,601.5	-131,126,720 -116,254	-344,290,966 -5,025,862	-239,722,000 -1,284,564
NS2P margin ? Median	-1.62% -0.62	-5.11% -0.29	-7.30% 0.18	-19.76% -5.07	-12.03% -0.88

Range* of Net Service to Patient (NS2P) margins

= NS2P margin for UNIVERSITY OF CHICAGO HOSPITALS 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	195,302,525 5,089,215	103,433,000 4,572,541	175,177,720 5,268,134	370,869,966 13,092,619	333,294,000 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	9,681,728	10,094,984	5,277,493	4,408,190	3,467,865
⊳ Line 13: Revenue from laundry and linen service	0	0	0	0	0
⊳ Line 14: Revenue from meals sold to emplyees and guests	3,078,644	2,775,690	3,080,195	1,419,657	897,815
⊳ 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	64,002,085	89,532,900	149,737,147	245,951,958	289,142,760
⊳ 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	118,540,068	1,029,426	17,082,885	119,090,161	39,785,560
Total income ? Median	169,142,000 6,586,430	17,394,000 6,767,106	44,051,000 8,419,950	26,579,000 8,094,175	93,572,000 15,162,888
Non-operating expenses Median	27,028,000 146,289.5	0 164,857	0 89,880.5	0 106,761	0 31,473.5
Net income Median	142,114,000 6,043,842	17,394,000 5,845,112	44,051,000 7,606,259	26,579,000 7,283,041	93,572,000 14,957,241
Net margin Median	7.83922% 4.62%	0.97347% 4.42%	2.23448% 5.16%	1.25777% 5.2%	4.02349% 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 UNIVERSITY OF CHICAGO HOSPITALS 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	214,388,728 23,241,334	223,992,939 23,709,545	246,539,385 24,248,380	239,772,181 22,858,541	267,840,737 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	214,388,728 21,577,146	223,992,939 22,041,594	246,539,385 22,722,063	239,772,181 21,570,441	267,840,737 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	0 3,535,627	0 3,746,588	0 3,782,288	0 3,865,578	0 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	107,920,901 11,160,864	126,960,485 11,987,345	132,013,669 12,926,866	123,636,275 11,884,480	130,883,043 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	107,920,901 10,918,923	126,960,485 11,706,976	132,013,669 12,615,917	123,636,275 11,458,116	130,883,043 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	51,889,601 3,284,314	54,543,978 3,250,551	60,102,738 3,386,837	60,598,100 3,360,806	67,804,636 3,508,953
Disproportionate-share hospital (DSH) Median	7,920,512 594,888	7,680,889 595,761	8,115,989 577,894	7,913,826 542,168	8,834,447 549,667
Outlier Median	30,517,293 582,572	30,381,044 538,116	30,530,022 212,434	3,314,949 126,559	2,362,764 139,139

Uncompensated care

Item	2017	2018	2019	2020	2021
Medicaid shortfall Median	47,159,353 3,662,910	47,548,440 3,730,911	29,796,682 4,081,319	42,722,432 4,643,908	4,414,651 4,389,147
Charity care Median	12,102,960 2,654,636	29,034,084 2,940,659	50,176,649 3,380,215	48,454,327 3,488,738	27,228,154 3,233,405
Uncompensated care (UCC) Median	29,989,174 5,147,790	48,042,149 5,337,617	57,022,961 5,711,082	53,996,559 5,923,418	30,836,866 5,508,107
UCC as a % of operating expenses Median	1.82% 3.24	2.72% 3.12	2.96% 3.21	2.59% 3.3	1.38% 2.86
Total shortfall/UCC Median	77,148,527 9,489,989	95,590,589 9,424,297	86,819,643 10,120,158	96,718,991 11,171,337	35,251,517 10,133,851

Labor costs

	2017	2018	2019	2020	2021
Total salaries Median	555,054,432 52,142,039	582,715,208 54,485,252	629,188,268 57,395,589	660,030,641 58,830,919	718,930,845 61,722,907
Salaries as a % of operating expenses Median	33.77 36.68	32.93 36.56	32.64 36.37	31.63 35.93	32.21 35.24
Intern, resident salaries* Median	36,454,503 2,598,592	37,475,498 2,686,824	39,415,940 2,753,773	42,117,477 2,937,156	44,537,403 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	7,607,796 1,449,244	10,117,165 1,475,986	9,477,220 1,563,078	19,628,635 1,721,954	12,928,880 2,991,828
Contract hours, direct-care Median	159,245.73 22,725	181,409.00 23,018.5	158,511.00 24,503.48	216,744.00 25,026.5	142,346.00 33,786
Contract wages, direct-care Median	47.77 64.67	55.77 64.53	59.79 65.06	90.56 68.97	90.83 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.