As of the July, 2022, release via CMS

FRANKFORT REGIONAL

CMS id: 180127
299 KINGS DAUGHTERS DRIVE, FRANKFORT KY 40601. County: FRANKLIN
System: HCA
CBSA: Frankfort, KY

The 124-bed, acute-care hospital had $33,338,396 in net service to patients*, with a total profit margin of 26.54543% in fiscal year 2021, the latest year available.
It spent 3.61% 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	forprofit	forprofit	forprofit	forprofit	forprofit
Acute beds Median	102 118	102 118	101 119.5	96 118	98 119
Total beds Median	128 162	128 162	127 162	122 162	124 163.5
FTEs Median	510.84 788.06	509.03 793.42	496.46 806.03	462.28 787.61	446.92 804.34

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	111,450,729 150,932,746	112,177,934 158,950,878	111,786,965 168,696,998	102,893,138 163,454,693	117,927,744 186,589,412
Operating expenses Median	96,951,638 149,311,209	99,003,575 156,110,414	99,051,763 164,890,568	94,742,526 166,516,854	84,589,348 180,120,888
Net income from service 2 patients (NS2P) ? Median	14,499,091 -964,173	13,174,359 -643,601.5	12,735,202 -116,254	8,150,612 -5,025,862	33,338,396 -1,284,564
NS2P margin ? Median	13.01% -0.62	11.74% -0.29	11.39% 0.18	7.92% -5.07	28.27% -0.88

Range* of Net Service to Patient (NS2P) margins

= NS2P margin for FRANKFORT REGIONAL 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	271,480 5,089,215	407,639 4,572,541	401,701 5,268,134	2,580,393 13,092,619	274,739 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	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	231,425	356,063	343,366	296,405	261,955
⊳ Line 15: Revenue from rental of living quarters	0	0	0	0	0
⊳ Line 16: Revenue from sale of medical and surgical supplies	1,620	875	617	605	604
⊳ 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	1,480	901	645	42	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	19,461	24,567	30,920	33,319	8,727
⊳ Line 22: Rental of hospital space	12,372	12,184	11,847	4,930	0
⊳ Line 23: Gov appropriations ? ⊳ Median	0 1,017,693	0 983,261.5	0 1,173,286	2,235,774 1,987,202	0 1,597,664
⊳ Sum Line 24	5,122	13,049	14,306	9,318	3,453
Total income ? Median	14,770,571 6,586,430	13,581,998 6,767,106	13,136,903 8,419,950	10,731,005 8,094,175	33,613,135 15,162,888
Non-operating expenses Median	-88 146,289.5	-83 164,857	-62 89,880.5	-117 106,761	2,235,774 31,473.5
Net income Median	14,770,659 6,043,842	13,582,081 5,845,112	13,136,965 7,606,259	10,731,122 7,283,041	31,377,361 14,957,241
Net margin Median	13.22088% 4.62%	12.06378% 4.42%	11.70971% 5.16%	10.17423% 5.2%	26.54543% 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 FRANKFORT REGIONAL 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	18,205,041 23,241,334	19,231,661 23,709,545	18,218,399 24,248,380	16,187,929 22,858,541	16,544,321 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	16,285,106 21,577,146	16,976,385 22,041,594	15,933,643 22,722,063	13,787,533 21,570,441	14,750,957 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	1,919,935 1,845,420	2,255,276 1,757,392	2,284,756 1,738,842	2,400,396 1,510,463	1,793,364 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	6,484,316 11,160,864	6,853,760 11,987,345	6,147,826 12,926,866	4,837,473 11,884,480	4,883,688 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	6,484,316 10,918,923	6,853,760 11,706,976	6,147,826 12,615,917	4,837,473 11,458,116	4,883,688 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	536,604 594,888	516,507 595,761	497,237 577,894	426,648 542,168	506,204 549,667
Outlier Median	279,967 582,572	173,204 538,116	144,455 212,434	10,391 126,559	6,518 139,139

Uncompensated care

Item	2017	2018	2019	2020	2021
Medicaid shortfall Median	594,650 3,662,910	1,207,940 3,730,911	0 4,081,319	0 4,643,908	0 4,389,147
Charity care Median	2,633,615 2,654,636	1,980,249 2,940,659	2,850,894 3,380,215	2,780,403 3,488,738	2,242,845 3,233,405
Uncompensated care (UCC) Median	3,829,111 5,147,790	3,275,340 5,337,617	4,028,452 5,711,082	3,970,410 5,923,418	3,049,876 5,508,107
UCC as a % of operating expenses Median	3.95% 3.24	3.31% 3.12	4.07% 3.21	4.19% 3.3	3.61% 2.86
Total shortfall/UCC Median	4,423,761 9,489,989	4,483,280 9,424,297	4,028,452 10,120,158	3,970,410 11,171,337	3,049,876 10,133,851

Labor costs

	2017	2018	2019	2020	2021
Total salaries Median	31,795,036 52,142,039	33,299,507 54,485,252	33,538,910 57,395,589	31,920,937 58,830,919	32,070,286 61,722,907
Salaries as a % of operating expenses Median	32.74 36.68	33.60 36.56	33.82 36.37	33.65 35.93	34.39 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	2,241,424 1,449,244	1,640,682 1,475,986	2,024,973 1,563,078	1,299,678 1,721,954	1,398,743 2,991,828
Contract hours, direct-care Median	44,507.00 22,725	29,032.00 23,018.5	38,427.00 24,503.48	25,009.00 25,026.5	22,491.73 33,786
Contract wages, direct-care Median	50.36 64.67	56.51 64.53	52.70 65.06	51.97 68.97	62.19 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.