As of the July, 2022, release via CMS

IROQUOIS MEMORIAL HOSPITAL

CMS id: 140167
200 FAIRMAN AVENUE, WATSEKA IL 60970. County: IROQUOIS
System: --
CBSA: Rural Illinois

The 61-bed, acute-care hospital had $-2,671,286 in net service to patients*, with a total profit margin of 16.97225% in fiscal year 2021, the latest year available.
It spent 3.39% of its operating expenses on uncompensated care and reported $4,529,142 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	25 118	25 118	25 119.5	25 118	25 119
Total beds Median	61 162	61 162	61 162	61 162	61 163.5
FTEs Median	326.52 788.06	326.52 793.42	310.88 806.03	271.10 787.61	243.66 804.34

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	27,719,234 150,932,746	30,418,737 158,950,878	25,289,098 168,696,998	24,245,547 163,454,693	30,990,484 186,589,412
Operating expenses Median	35,238,215 149,311,209	33,982,467 156,110,414	33,090,700 164,890,568	31,434,297 166,516,854	33,661,770 180,120,888
Net income from service 2 patients (NS2P) ? Median	-7,518,981 -964,173	-3,563,730 -643,601.5	-7,801,602 -116,254	-7,188,750 -5,025,862	-2,671,286 -1,284,564
NS2P margin ? Median	-27.13% -0.62	-11.72% -0.29	-30.85% 0.18	-29.65% -5.07	-8.62% -0.88

Range* of Net Service to Patient (NS2P) margins

= NS2P margin for IROQUOIS 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	3,026,065 5,089,215	3,000,257 4,572,541	1,779,845 5,268,134	2,115,482 13,092,619	9,552,312 12,369,236
⊳ Line 6: Contributions ? ⊳ Median	1,052,412 224,999	2,191,920 199,009	1,423,080 206,870.5	139,299 194,343	146,268 249,496
⊳ Line 7: Investments ? ⊳ Median	198,313 299,524	289,892 188,688.5	146,518 370,813	518,640 309,361.5	382,384 375,329
⊳ Line 8: Revenue from telephone service	NULL	NULL	NULL	NULL	NULL
⊳ Line 9: Revenue from tv and radio	--	12,785	--	--	--
⊳ Line 10: Purchase discounts	25	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	163,081	145,417	132,948	98,160	102,535
⊳ Line 15: Revenue from rental of living quarters	0	0	0	0	0
⊳ Line 16: Revenue from sale of medical and surgical supplies	196	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	123	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	165,932	180,710	97,693	84,327
⊳ 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	1,611,915	194,311	-103,411	1,261,690	8,836,798
Total income ? Median	-4,492,916 6,586,430	-563,473 6,767,106	-6,021,757 8,419,950	-5,073,268 8,094,175	6,881,026 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	-4,492,916 6,043,842	-563,473 5,845,112	-6,021,757 7,606,259	-5,073,268 7,283,041	6,881,026 14,957,241
Net margin Median	-14.61334% 4.62%	-1.68609% 4.42%	-22.24600% 5.16%	-19.24533% 5.2%	16.97225% 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 IROQUOIS 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	4,377,079 23,241,334	5,051,922 23,709,545	3,332,440 24,248,380	3,164,687 22,858,541	3,647,963 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	3,844,712 21,577,146	4,399,203 22,041,594	2,658,718 22,722,063	2,745,353 21,570,441	3,279,133 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	532,367 1,203,033	652,719 1,215,295	673,722 1,313,657	419,334 1,365,298	368,830 1,179,746
All outpatient revenue Median Click here to show/hide details	5,524,140 11,160,864	5,272,442 11,987,345	4,754,495 12,926,866	5,391,768 11,884,480	5,838,290 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	3,828,117 10,918,923	3,550,921 11,706,976	3,078,257 12,615,917	2,139,245 11,458,116	2,103,937 12,776,716
⊳ Home Health agencies (HHA) ⊳ Median	332,679 1,282,808	395,101 1,407,728	410,126 1,341,512	471,134 1,407,046	561,086 1,476,867
⊳ Community mental health clinics (CMHC) ⊳ Median	0 --	0 --	0 --	0 --	0 --
⊳ Rural health clinics ⊳ Median	1,363,344 618,038	1,326,420 697,279	1,266,112 690,232	2,781,389 684,010	3,173,267 670,558
⊳ 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	70,514 594,888	20,471 595,761	16,209 577,894	23,835 542,168	16,146 549,667
Outlier Median	43,235 582,572	48,263 538,116	2,742 212,434	11,162 126,559	61,256 139,139

Uncompensated care

Item	2017	2018	2019	2020	2021
Medicaid shortfall Median	57,565 3,662,910	688,790 3,730,911	3,497,877 4,081,319	3,349,486 4,643,908	4,529,142 4,389,147
Charity care Median	285,453 2,654,636	330,754 2,940,659	582,444 3,380,215	47,441 3,488,738	319,438 3,233,405
Uncompensated care (UCC) Median	1,152,280 5,147,790	419,647 5,337,617	1,759,491 5,711,082	1,079,473 5,923,418	1,142,415 5,508,107
UCC as a % of operating expenses Median	3.27% 3.24	1.23% 3.12	5.32% 3.21	3.43% 3.3	3.39% 2.86
Total shortfall/UCC Median	1,209,845 9,489,989	1,108,437 9,424,297	5,257,368 10,120,158	4,428,959 11,171,337	5,671,557 10,133,851

Labor costs

	2017	2018	2019	2020	2021
Total salaries Median	17,285,644 52,142,039	16,613,677 54,485,252	14,533,056 57,395,589	13,812,793 58,830,919	14,309,236 61,722,907
Salaries as a % of operating expenses Median	49.05 36.68	48.89 36.56	43.92 36.37	43.94 35.93	42.51 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	467,594 1,449,244	348,153 1,475,986	279,991 1,563,078	247,998 1,721,954	429,226 2,991,828
Contract hours, direct-care Median	6,536.00 22,725	4,209.00 23,018.5	3,802.00 24,503.48	4,219.25 25,026.5	4,099.87 33,786
Contract wages, direct-care Median	71.54 64.67	82.72 64.53	73.64 65.06	58.78 68.97	104.69 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.