As of the July, 2022, release via CMS

FREDERICK MEMORIAL HOSPITAL

CMS id: 210005
400 WEST SEVENTH STREET, FREDERICK MD 21701. County: FREDERICK
System: --
CBSA: Washington-Arlington-Alexandria, DC-VA-MD-WV

The 284-bed, acute-care hospital had $14,817,721 in net service to patients*, with a total profit margin of 18.10083% in fiscal year 2021, the latest year available.
It spent 0.00% 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	221 118	239 118	248 119.5	251 118	251 119
Total beds Median	239 162	272 162	281 162	284 162	284 163.5
FTEs Median	1,592.57 788.06	1,707.54 793.42	1,782.87 806.03	2,019.74 787.61	2,175.48 804.34

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	356,891,993 150,932,746	357,248,502 158,950,878	358,906,240 168,696,998	357,117,109 163,454,693	398,433,992 186,589,412
Operating expenses Median	346,203,939 149,311,209	340,031,517 156,110,414	340,005,580 164,890,568	356,514,239 166,516,854	383,616,271 180,120,888
Net income from service 2 patients (NS2P) ? Median	10,688,054 -964,173	17,216,985 -643,601.5	18,900,660 -116,254	602,870 -5,025,862	14,817,721 -1,284,564
NS2P margin ? Median	2.99% -0.62	4.82% -0.29	5.27% 0.18	0.17% -5.07	3.72% -0.88

Range* of Net Service to Patient (NS2P) margins

= NS2P margin for FREDERICK 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	7,294,084 5,089,215	18,016,960 4,572,541	18,974,163 5,268,134	24,368,191 13,092,619	65,152,391 12,369,236
⊳ Line 6: Contributions ? ⊳ Median	2,400,275 224,999	3,443,256 199,009	4,108,475 206,870.5	5,325,911 194,343	4,987,796 249,496
⊳ Line 7: Investments ? ⊳ Median	0 299,524	8,381,544 188,688.5	5,134,600 370,813	3,868,290 309,361.5	18,795,704 375,329
⊳ Line 8: Revenue from telephone service	NULL	NULL	NULL	NULL	NULL
⊳ Line 9: Revenue from tv and radio	--	--	--	--	--
⊳ Line 10: Purchase discounts	4,569	-13,943	3,911	-58,684	-17,454
⊳ 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	1,128,616	1,095,292	1,145,673	966,656	756,531
⊳ 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	552	11,119	14,846	6,240	73,937
⊳ Line 18: Revenue from sale of medical records and abstracts	1,042	22	2,860	2,400	245
⊳ Line 19: Tuition (fees, sale of textbooks, uniforms, etc.)	0	0	0	0	0
⊳ Line 20: Revenue from gifts, flowers, coffee shops, canteen	0	530,186	587,852	429,778	238,038
⊳ Line 21: Rental of vending machines	0	0	0	0	0
⊳ Line 22: Rental of hospital space	554,775	848,938	1,201,251	1,567,945	1,827,944
⊳ 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	3,204,255	3,720,546	6,774,695	12,259,655	38,489,650
Total income ? Median	17,982,138 6,586,430	35,233,945 6,767,106	37,874,823 8,419,950	24,971,061 8,094,175	79,970,112 15,162,888
Non-operating expenses Median	984 146,289.5	5,650,053 164,857	1,377,430 89,880.5	7,516,724 106,761	-3,942,888 31,473.5
Net income Median	17,981,154 6,043,842	29,583,892 5,845,112	36,497,393 7,606,259	17,454,337 7,283,041	83,913,000 14,957,241
Net margin Median	4.93735% 4.62%	7.88346% 4.42%	9.65845% 5.16%	4.57536% 5.2%	18.10083% 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 FREDERICK 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	97,910,682 23,241,334	107,492,869 23,709,545	97,419,827 24,248,380	94,022,076 22,858,541	99,352,989 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	97,910,682 21,577,146	107,492,869 22,041,594	97,419,827 22,722,063	94,022,076 21,570,441	99,352,989 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	37,730,597 11,160,864	38,567,310 11,987,345	41,380,588 12,926,866	41,274,478 11,884,480	46,514,132 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	31,039,038 10,918,923	31,666,807 11,706,976	34,930,131 12,615,917	35,656,157 11,458,116	40,779,613 12,776,716
⊳ Home Health agencies (HHA) ⊳ Median	6,691,559 1,282,808	6,900,503 1,407,728	6,450,457 1,341,512	5,618,321 1,407,046	5,734,519 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	2,095,049 594,888	0 595,761	0 577,894	0 542,168	0 549,667
Outlier Median	66,262 582,572	63,044 538,116	63,050 212,434	59,827 126,559	60,139 139,139

Uncompensated care

Item	2017	2018	2019	2020	2021
Medicaid shortfall Median	0 3,662,910	0 3,730,911	0 4,081,319	0 4,643,908	0 4,389,147
Charity care Median	5,079,109 2,654,636	5,445,737 2,940,659	4,345,300 3,380,215	4,391,394 3,488,738	0 3,233,405
Uncompensated care (UCC) Median	12,156,450 5,147,790	11,866,287 5,337,617	11,508,568 5,711,082	12,108,111 5,923,418	0 5,508,107
UCC as a % of operating expenses Median	3.51% 3.24	3.49% 3.12	3.38% 3.21	3.40% 3.3	0.00% 2.86
Total shortfall/UCC Median	12,156,450 9,489,989	11,866,287 9,424,297	11,508,568 10,120,158	12,108,111 11,171,337	0 10,133,851

Labor costs

	2017	2018	2019	2020	2021
Total salaries Median	111,807,005 52,142,039	121,108,809 54,485,252	127,895,760 57,395,589	144,626,373 58,830,919	158,526,391 61,722,907
Salaries as a % of operating expenses Median	32.30 36.68	35.62 36.56	37.62 36.37	40.57 35.93	41.32 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	16,977,791 1,449,244	10,103,662 1,475,986	10,363,339 1,563,078	10,530,170 1,721,954	6,089,456 2,991,828
Contract hours, direct-care Median	384,159.00 22,725	210,945.00 23,018.5	238,868.00 24,503.48	253,849.00 25,026.5	86,642.19 33,786
Contract wages, direct-care Median	44.19 64.67	47.90 64.53	43.39 65.06	41.48 68.97	70.28 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.