As of the July, 2022, release via CMS

BOARD OF TRUSTEES OF THE UNIVERSITY

CMS id: 140150
1740 W TAYLOR ST, CHICAGO IL 60612. County: COOK
System: --
CBSA: Chicago-Naperville-Elgin, IL-IN-WI

The 484-bed, acute-care hospital had $-478,669,651 in net service to patients*, with a total profit margin of 5.33422% in fiscal year 2021, the latest year available.
It spent 2.55% of its operating expenses on uncompensated care and reported $12,409,852 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	gov	gov	gov	gov	gov
Acute beds Median	312 118	303 118	303 119.5	303 118	307 119
Total beds Median	517 162	487 162	484 162	484 162	484 163.5
FTEs Median	4,181.93 788.06	4,345.94 793.42	4,471.71 806.03	4,620.49 787.61	4,716.27 804.34

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	713,318,560 150,932,746	721,081,781 158,950,878	759,972,059 168,696,998	780,014,658 163,454,693	842,169,006 186,589,412
Operating expenses Median	1,063,297,496 149,311,209	1,087,737,760 156,110,414	1,025,908,827 164,890,568	1,123,713,149 166,516,854	1,320,838,657 180,120,888
Net income from service 2 patients (NS2P) ? Median	-349,978,936 -964,173	-366,655,979 -643,601.5	-265,936,768 -116,254	-343,698,491 -5,025,862	-478,669,651 -1,284,564
NS2P margin ? Median	-49.06% -0.62	-50.85% -0.29	-34.99% 0.18	-44.06% -5.07	-56.84% -0.88

Range* of Net Service to Patient (NS2P) margins

= NS2P margin for BOARD OF TRUSTEES OF THE UNIVERSITY 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	361,957,407 5,089,215	428,657,251 4,572,541	299,595,456 5,268,134	350,724,679 13,092,619	553,096,112 12,369,236
⊳ Line 6: Contributions ? ⊳ Median	59,459 224,999	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	1,509,783	1,886,231	1,893,095	0	0
⊳ Line 12: Parking lot receipts	340,602	338,616	352,303	233,961	-511,034
⊳ Line 13: Revenue from laundry and linen service	0	0	0	0	0
⊳ Line 14: Revenue from meals sold to emplyees and guests	1,928,744	1,930,503	2,009,353	1,632,011	1,183,054
⊳ 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	45,715	57,821	31,942	27,357	19,151
⊳ Line 19: Tuition (fees, sale of textbooks, uniforms, etc.)	36,248	23,807	46,851	40,397	564
⊳ Line 20: Revenue from gifts, flowers, coffee shops, canteen	26,847	0	0	0	0
⊳ Line 21: Rental of vending machines	0	0	0	0	0
⊳ Line 22: Rental of hospital space	505,544	582,321	474,635	580,280	338,978
⊳ Line 23: Gov appropriations ? ⊳ Median	0 1,017,693	37,595,400 983,261.5	20,381,600 1,173,286	18,711,249 1,987,202	14,131,391 1,597,664
⊳ Sum Line 24	357,504,465	386,242,552	274,405,677	329,499,424	537,934,008
Total income ? Median	11,978,471 6,586,430	62,001,272 6,767,106	33,658,688 8,419,950	7,026,188 8,094,175	74,426,461 15,162,888
Non-operating expenses Median	-873,006 146,289.5	656,800 164,857	0 89,880.5	0 106,761	0 31,473.5
Net income Median	12,851,477 6,043,842	61,344,472 5,845,112	33,658,688 7,606,259	7,026,188 7,283,041	74,426,461 14,957,241
Net margin Median	1.19518% 4.62%	5.33551% 4.42%	3.17664% 5.16%	0.62138% 5.2%	5.33422% 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 BOARD OF TRUSTEES OF THE UNIVERSITY 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	107,964,276 23,241,334	104,560,094 23,709,545	111,378,380 24,248,380	114,531,520 22,858,541	112,360,181 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	105,083,089 21,577,146	102,625,762 22,041,594	109,872,925 22,722,063	113,372,327 21,570,441	110,461,076 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	1,633,720 1,845,420	1,934,332 1,757,392	1,505,455 1,738,842	1,159,193 1,510,463	1,899,105 1,393,140
⊳ Inpatient rehabilitation facility (IRF) ⊳ Median	1,247,467 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	43,429,863 11,160,864	45,032,595 11,987,345	44,920,695 12,926,866	37,699,362 11,884,480	34,976,488 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	43,429,863 10,918,923	45,032,595 11,706,976	44,920,695 12,615,917	37,699,362 11,458,116	34,976,488 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	29,666,280 3,284,314	29,732,932 3,250,551	29,976,015 3,386,837	31,287,804 3,360,806	29,892,247 3,508,953
Disproportionate-share hospital (DSH) Median	3,760,275 594,888	3,975,737 595,761	3,509,926 577,894	3,414,023 542,168	3,641,643 549,667
Outlier Median	9,495,321 582,572	8,854,196 538,116	11,663,090 212,434	946,532 126,559	1,066,037 139,139

Uncompensated care

Item	2017	2018	2019	2020	2021
Medicaid shortfall Median	9,084,942 3,662,910	8,369,334 3,730,911	17,569,975 4,081,319	10,879,592 4,643,908	12,409,852 4,389,147
Charity care Median	12,471,722 2,654,636	15,135,436 2,940,659	16,136,474 3,380,215	17,688,520 3,488,738	28,453,788 3,233,405
Uncompensated care (UCC) Median	25,678,827 5,147,790	23,946,039 5,337,617	27,763,291 5,711,082	20,142,452 5,923,418	33,631,138 5,508,107
UCC as a % of operating expenses Median	2.42% 3.24	2.20% 3.12	2.71% 3.21	1.79% 3.3	2.55% 2.86
Total shortfall/UCC Median	34,763,769 9,489,989	32,315,373 9,424,297	45,333,266 10,120,158	31,022,044 11,171,337	46,040,990 10,133,851

Labor costs

	2017	2018	2019	2020	2021
Total salaries Median	301,232,295 52,142,039	316,875,265 54,485,252	337,034,266 57,395,589	362,957,859 58,830,919	380,637,568 61,722,907
Salaries as a % of operating expenses Median	40.61 36.68	29.13 36.56	32.85 36.37	32.30 35.93	28.82 35.24
Intern, resident salaries* Median	21,113,023 2,598,592	20,934,133 2,686,824	23,036,670 2,753,773	24,081,163 2,937,156	24,077,806 2,909,848
Contract intern, resident salaries* Median	0 1,251,927	0 1,186,494	259,169 1,204,885	267,179 1,279,653	275,194 1,469,317
Contract adjusted salaries, direct-care Median	10,366,768 1,449,244	11,816,345 1,475,986	8,929,053 1,563,078	15,130,512 1,721,954	28,909,386 2,991,828
Contract hours, direct-care Median	181,295.00 22,725	202,732.12 23,018.5	145,318.96 24,503.48	230,791.00 25,026.5	427,542.45 33,786
Contract wages, direct-care Median	57.18 64.67	58.29 64.53	61.44 65.06	65.56 68.97	67.62 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.