As of the July, 2022, release via CMS

PROVIDENT HOSPITAL

CMS id: 140300
500 EAST 51ST STREET, CHICAGO IL 60615. County: COOK
System: COOK COUNTY
CBSA: Chicago-Naperville-Elgin, IL-IN-WI

The 25-bed, acute-care hospital had $-80,918,258 in net service to patients*, with a total profit margin of 527.98114% in fiscal year 2021, the latest year available.
It spent 18.47% of its operating expenses on uncompensated care and reported $21,783,042 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	25 118	25 118	25 119.5	38 118	25 119
Total beds Median	25 162	25 162	25 162	38 162	25 163.5
FTEs Median	344.47 788.06	391.97 793.42	377.34 806.03	326.24 787.61	355.76 804.34

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	131,698,543 150,932,746	115,406,928 158,950,878	75,326,546 168,696,998	64,576,141 163,454,693	-16,745,563 186,589,412
Operating expenses Median	80,225,783 149,311,209	59,505,870 156,110,414	76,138,224 164,890,568	62,518,634 166,516,854	64,172,695 180,120,888
Net income from service 2 patients (NS2P) ? Median	51,472,760 -964,173	55,901,058 -643,601.5	-811,678 -116,254	2,057,507 -5,025,862	-80,918,258 -1,284,564
NS2P margin ? Median	39.08% -0.62	48.44% -0.29	-1.08% 0.18	3.19% -5.07	483.22% -0.88

Range* of Net Service to Patient (NS2P) margins

= NS2P margin for PROVIDENT 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	1,079,002 5,089,215	484,755 4,572,541	975,071 5,268,134	1,762,303 13,092,619	1,751,282 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	2,435 299,524	3,136 188,688.5	1,064 370,813	362 309,361.5	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	149,045	136,804	125,065	136,895	0
⊳ Line 13: Revenue from laundry and linen service	0	0	0	0	0
⊳ Line 14: Revenue from meals sold to emplyees and guests	0	0	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	179,981	237,249	192,949	135,100	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.)	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	752,077 1,017,693	123,028 983,261.5	534,210 1,173,286	501,493 1,987,202	0 1,597,664
⊳ Sum Line 24	-4,536	-15,462	121,783	988,453	1,751,282
Total income ? Median	52,551,762 6,586,430	56,385,813 6,767,106	163,393 8,419,950	3,819,810 8,094,175	-79,166,976 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	52,551,762 6,043,842	56,385,813 5,845,112	163,393 7,606,259	3,819,810 7,283,041	-79,166,976 14,957,241
Net margin Median	39.57880% 4.62%	48.65389% 4.42%	0.21414% 5.16%	5.75806% 5.2%	527.98114% 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 PROVIDENT 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	1,224,282 23,241,334	2,839,291 23,709,545	5,161,620 24,248,380	6,624,383 22,858,541	6,366,147 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	1,224,282 21,577,146	2,839,291 22,041,594	5,161,620 22,722,063	6,624,383 21,570,441	6,366,147 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	2,409,865 11,160,864	3,113,682 11,987,345	3,078,445 12,926,866	2,167,504 11,884,480	2,065,661 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	2,409,865 10,918,923	3,113,682 11,706,976	3,078,445 12,615,917	2,167,504 11,458,116	2,065,661 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	93,041 3,284,314	92,622 3,250,551	68,928 3,386,837	88,942 3,360,806	122,008 3,508,953
Disproportionate-share hospital (DSH) Median	10,760 594,888	13,661 595,761	13,747 577,894	10,359 542,168	10,854 549,667
Outlier Median	301,178 582,572	344,565 538,116	110,145 212,434	93,216 126,559	68,198 139,139

Uncompensated care

Item	2017	2018	2019	2020	2021
Medicaid shortfall Median	12,278,478 3,662,910	9,318,319 3,730,911	12,861,208 4,081,319	16,531,999 4,643,908	21,783,042 4,389,147
Charity care Median	9,982,601 2,654,636	24,434,437 2,940,659	12,961,332 3,380,215	14,177,704 3,488,738	5,133,057 3,233,405
Uncompensated care (UCC) Median	20,865,518 5,147,790	39,511,867 5,337,617	25,668,278 5,711,082	22,083,541 5,923,418	11,852,456 5,508,107
UCC as a % of operating expenses Median	26.01% 3.24	66.40% 3.12	33.71% 3.21	35.32% 3.3	18.47% 2.86
Total shortfall/UCC Median	33,143,996 9,489,989	48,830,186 9,424,297	38,529,486 10,120,158	38,615,540 11,171,337	33,635,498 10,133,851

Labor costs

	2017	2018	2019	2020	2021
Total salaries Median	34,347,555 52,142,039	33,366,638 54,485,252	32,879,606 57,395,589	34,588,301 58,830,919	33,461,991 61,722,907
Salaries as a % of operating expenses Median	42.81 36.68	56.07 36.56	43.18 36.37	55.32 35.93	53.05 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	452,772 1,449,244	466,355 1,475,986	0 1,563,078	494,756 1,721,954	0 2,991,828
Contract hours, direct-care Median	7,109.50 22,725	7,323.00 23,018.5	0.00 24,503.48	7,769.00 25,026.5	0.00 33,786
Contract wages, direct-care Median	63.69 64.67	63.68 64.53	0.00 65.06	63.68 68.97	0.00 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.