As of the July, 2022, release via CMS

ST. ELIZABETH FLORENCE

CMS id: 180045
4900 HOUSTON ROAD, FLORENCE KY 41042. County: BOONE
System: ST ELIZABETH MEDICAL CENTER INC
CBSA: Cincinnati, OH-KY-IN

The 150-bed, acute-care hospital had $53,876,168 in net service to patients*, with a total profit margin of 29.79738% in fiscal year 2021, the latest year available.
It spent 3.39% 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	130 118	108 118	111 119.5	131 118	116 119
Total beds Median	164 162	142 162	145 162	165 162	150 163.5
FTEs Median	811.01 788.06	794.90 793.42	802.19 806.03	824.20 787.61	841.36 804.34

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	143,977,760 150,932,746	151,472,539 158,950,878	162,971,195 168,696,998	169,441,129 163,454,693	199,112,522 186,589,412
Operating expenses Median	104,941,273 149,311,209	110,209,059 156,110,414	115,775,046 164,890,568	127,716,233 166,516,854	145,236,354 180,120,888
Net income from service 2 patients (NS2P) ? Median	39,036,487 -964,173	41,263,480 -643,601.5	47,196,149 -116,254	41,724,896 -5,025,862	53,876,168 -1,284,564
NS2P margin ? Median	27.11% -0.62	27.24% -0.29	28.96% 0.18	24.63% -5.07	27.06% -0.88

Range* of Net Service to Patient (NS2P) margins

= NS2P margin for ST. ELIZABETH FLORENCE 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	4,194,970 5,089,215	4,713,273 4,572,541	3,902,629 5,268,134	16,918,228 13,092,619	7,769,161 12,369,236
⊳ Line 6: Contributions ? ⊳ Median	87,300 224,999	0 199,009	525 206,870.5	5,000 194,343	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	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	543,264	0	511,855	518,293	535,679
⊳ 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	42,423	48,082	50,190	48,872	72,801
⊳ 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	366,565	913,275	411,897	321,767	347,683
⊳ Line 21: Rental of vending machines	10,949	14,474	34,113	8,016	7,960
⊳ Line 22: Rental of hospital space	327,959	311,507	483,309	506,902	607,999
⊳ 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	2,816,510	3,425,935	2,410,740	15,509,378	6,197,039
Total income ? Median	43,231,457 6,586,430	45,976,753 6,767,106	51,098,778 8,419,950	58,643,124 8,094,175	61,645,329 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	43,231,457 6,043,842	45,976,753 5,845,112	51,098,778 7,606,259	58,643,124 7,283,041	61,645,329 14,957,241
Net margin Median	29.17639% 4.62%	29.43721% 4.42%	30.62121% 5.16%	31.46776% 5.2%	29.79738% 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 ST. ELIZABETH FLORENCE 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	26,880,709 23,241,334	27,054,196 23,709,545	25,789,432 24,248,380	25,488,441 22,858,541	24,796,091 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	25,969,952 21,577,146	26,007,426 22,041,594	24,881,565 22,722,063	24,415,108 21,570,441	23,616,345 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	910,757 1,203,033	1,046,770 1,215,295	907,867 1,313,657	1,073,333 1,365,298	1,179,746 1,179,746
All outpatient revenue Median Click here to show/hide details	7,097,382 11,160,864	7,288,363 11,987,345	8,296,420 12,926,866	9,566,798 11,884,480	10,198,359 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	7,097,382 10,918,923	7,288,363 11,706,976	8,296,420 12,615,917	9,566,798 11,458,116	10,198,359 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	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	860,532 594,888	622,972 595,761	496,490 577,894	519,111 542,168	455,199 549,667
Outlier Median	653,026 582,572	318,809 538,116	50,817 212,434	40,484 126,559	79,484 139,139

Uncompensated care

Item	2017	2018	2019	2020	2021
Medicaid shortfall Median	2,952,543 3,662,910	4,554,979 3,730,911	2,746,264 4,081,319	1,932,062 4,643,908	0 4,389,147
Charity care Median	3,371,594 2,654,636	3,705,547 2,940,659	4,061,257 3,380,215	3,538,908 3,488,738	2,907,185 3,233,405
Uncompensated care (UCC) Median	6,490,486 5,147,790	6,605,366 5,337,617	7,140,904 5,711,082	6,550,451 5,923,418	4,928,120 5,508,107
UCC as a % of operating expenses Median	6.18% 3.24	5.99% 3.12	6.17% 3.21	5.13% 3.3	3.39% 2.86
Total shortfall/UCC Median	9,443,029 9,489,989	11,160,345 9,424,297	9,887,168 10,120,158	8,482,513 11,171,337	4,928,120 10,133,851

Labor costs

	2017	2018	2019	2020	2021
Total salaries Median	50,642,253 52,142,039	51,529,435 54,485,252	53,004,061 57,395,589	55,203,060 58,830,919	64,096,175 61,722,907
Salaries as a % of operating expenses Median	48.26 36.68	46.76 36.56	45.78 36.37	43.22 35.93	44.13 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	0 1,449,244	29,542 1,475,986	587,775 1,563,078	509,043 1,721,954	608,704 2,991,828
Contract hours, direct-care Median	0.00 22,725	518.00 23,018.5	9,340.00 24,503.48	7,076.00 25,026.5	8,367.00 33,786
Contract wages, direct-care Median	0.00 64.67	57.03 64.53	62.93 65.06	71.94 68.97	72.75 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.