As of the July, 2022, release via CMS

SWEDISHAMERICAN HOSPITAL

CMS id: 140228
1401 EAST STATE ST., ROCKFORD IL 61104. County: WINNEBAGO
System: --
CBSA: Rockford, IL

The 307-bed, acute-care hospital had $-19,886,792 in net service to patients*, with a total profit margin of 9.98074% in fiscal year 2021, the latest year available.
It spent 1.62% 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	272 118	256 118	247 119.5	260 118	254 119
Total beds Median	322 162	300 162	294 162	308 162	307 163.5
FTEs Median	2,544.79 788.06	2,212.79 793.42	2,315.73 806.03	2,323.42 787.61	2,523.61 804.34

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	497,021,739 150,932,746	567,341,048 158,950,878	581,931,047 168,696,998	573,456,602 163,454,693	633,043,910 186,589,412
Operating expenses Median	489,195,047 149,311,209	504,185,995 156,110,414	535,905,089 164,890,568	556,931,121 166,516,854	652,930,702 180,120,888
Net income from service 2 patients (NS2P) ? Median	7,826,692 -964,173	63,155,053 -643,601.5	46,025,958 -116,254	16,525,481 -5,025,862	-19,886,792 -1,284,564
NS2P margin ? Median	1.57% -0.62	11.13% -0.29	7.91% 0.18	2.88% -5.07	-3.14% -0.88

Range* of Net Service to Patient (NS2P) margins

= NS2P margin for SWEDISHAMERICAN 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	22,333,695 5,089,215	11,785,481 4,572,541	46,241,015 5,268,134	58,009,374 13,092,619	124,063,611 12,369,236
⊳ Line 6: Contributions ? ⊳ Median	-4,972 224,999	-14,429 199,009	417,646 206,870.5	1,133,003 194,343	2,090,654 249,496
⊳ Line 7: Investments ? ⊳ Median	7,691,147 299,524	4,067,291 188,688.5	15,775,024 370,813	7,790,302 309,361.5	59,258,210 375,329
⊳ Line 8: Revenue from telephone service	NULL	NULL	NULL	NULL	NULL
⊳ Line 9: Revenue from tv and radio	--	--	--	--	--
⊳ Line 10: Purchase discounts	-300	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	8,322	6,476	5,866	5,742	8,352
⊳ Line 14: Revenue from meals sold to emplyees and guests	1,425,259	1,379,045	1,600,995	1,293,204	1,177,948
⊳ Line 15: Revenue from rental of living quarters	9,825	9,245	7,770	10,260	102,902
⊳ 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	219	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.)	189,597	310,124	410,948	398,325	253,444
⊳ Line 20: Revenue from gifts, flowers, coffee shops, canteen	0	0	0	0	0
⊳ Line 21: Rental of vending machines	164	39	0	0	190
⊳ 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	13,010,007	5,642,997	27,619,456	46,953,989	60,743,948
Total income ? Median	30,160,387 6,586,430	74,940,534 6,767,106	92,266,973 8,419,950	74,534,855 8,094,175	104,176,819 15,162,888
Non-operating expenses Median	4,798,139 146,289.5	44,107,534 164,857	58,606,816 89,880.5	70,179,289 106,761	28,611,901 31,473.5
Net income Median	25,362,248 6,043,842	30,833,000 5,845,112	33,660,157 7,606,259	4,355,566 7,283,041	75,564,918 14,957,241
Net margin Median	4.88341% 4.62%	5.32405% 4.42%	5.35843% 5.16%	0.68975% 5.2%	9.98074% 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 SWEDISHAMERICAN 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	49,826,570 23,241,334	49,289,562 23,709,545	45,043,638 24,248,380	43,857,393 22,858,541	48,989,170 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	48,489,716 21,577,146	48,347,980 22,041,594	44,194,890 22,722,063	43,104,194 21,570,441	47,792,176 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	1,336,854 1,845,420	941,582 1,757,392	848,748 1,738,842	753,199 1,510,463	767,915 1,393,140
⊳ Inpatient rehabilitation facility (IRF) ⊳ Median	0 3,535,627	0 3,746,588	0 3,782,288	0 3,865,578	429,079 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	39,031,468 11,160,864	40,740,325 11,987,345	43,510,766 12,926,866	40,878,563 11,884,480	40,271,974 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	36,629,665 10,918,923	38,704,515 11,706,976	41,685,674 12,615,917	39,074,659 11,458,116	39,122,285 12,776,716
⊳ Home Health agencies (HHA) ⊳ Median	2,401,803 1,282,808	2,035,810 1,407,728	1,825,092 1,341,512	1,803,904 1,407,046	1,149,689 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	1,558,305 3,284,314	1,579,669 3,250,551	1,553,597 3,386,837	1,532,270 3,360,806	1,561,174 3,508,953
Disproportionate-share hospital (DSH) Median	1,762,850 594,888	1,426,077 595,761	1,213,116 577,894	1,009,397 542,168	1,776,881 549,667
Outlier Median	2,163,743 582,572	1,537,249 538,116	2,251,278 212,434	659,875 126,559	1,262,476 139,139

Uncompensated care

Item	2017	2018	2019	2020	2021
Medicaid shortfall Median	4,799,653 3,662,910	0 3,730,911	0 4,081,319	0 4,643,908	0 4,389,147
Charity care Median	7,036,216 2,654,636	6,521,244 2,940,659	7,406,491 3,380,215	4,234,765 3,488,738	5,644,049 3,233,405
Uncompensated care (UCC) Median	13,116,460 5,147,790	13,699,839 5,337,617	15,383,139 5,711,082	11,947,182 5,923,418	10,591,409 5,508,107
UCC as a % of operating expenses Median	2.68% 3.24	2.72% 3.12	2.87% 3.21	2.15% 3.3	1.62% 2.86
Total shortfall/UCC Median	17,916,113 9,489,989	13,699,839 9,424,297	15,383,139 10,120,158	11,947,182 11,171,337	10,591,409 10,133,851

Labor costs

	2017	2018	2019	2020	2021
Total salaries Median	193,367,619 52,142,039	208,027,159 54,485,252	224,578,478 57,395,589	234,201,323 58,830,919	263,058,222 61,722,907
Salaries as a % of operating expenses Median	39.53 36.68	41.26 36.56	41.91 36.37	42.05 35.93	40.29 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	1,154,836 1,449,244	698,377 1,475,986	630,772 1,563,078	1,163,955 1,721,954	1,210,929 2,991,828
Contract hours, direct-care Median	15,046.00 22,725	10,650.67 23,018.5	9,334.75 24,503.48	14,813.44 25,026.5	13,822.94 33,786
Contract wages, direct-care Median	76.75 64.67	65.57 64.53	67.57 65.06	78.57 68.97	87.60 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.