As of the July, 2022, release via CMS

BEVERLY HOSPITAL

CMS id: 220033
85 HERRICK STREET, BEVERLY MA 1915. County: ESSEX
System: BETH ISRAEL LAHEY HEALTH
CBSA: Boston-Cambridge-Newton, MA-NH

The 337-bed, acute-care hospital had $7,363,572 in net service to patients*, with a total profit margin of 4.17878% in fiscal year 2021, the latest year available.
It spent 1.34% 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	274 118	274 118	274 119.5	274 118	243 119
Total beds Median	364 162	364 162	364 162	364 162	337 163.5
FTEs Median	1,944.33 788.06	1,999.47 793.42	1,998.33 806.03	1,937.72 787.61	1,910.21 804.34

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	339,040,573 150,932,746	361,441,650 158,950,878	380,939,808 168,696,998	358,424,704 163,454,693	384,997,463 186,589,412
Operating expenses Median	335,612,260 149,311,209	351,735,629 156,110,414	359,730,078 164,890,568	357,575,564 166,516,854	377,633,891 180,120,888
Net income from service 2 patients (NS2P) ? Median	3,428,313 -964,173	9,706,021 -643,601.5	21,209,730 -116,254	849,140 -5,025,862	7,363,572 -1,284,564
NS2P margin ? Median	1.01% -0.62	2.69% -0.29	5.57% 0.18	0.24% -5.07	1.91% -0.88

Range* of Net Service to Patient (NS2P) margins

= NS2P margin for BEVERLY 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	29,655,231 5,089,215	18,252,058 4,572,541	16,196,626 5,268,134	51,556,961 13,092,619	15,093,358 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	82,693 370,813	25 309,361.5	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	2,702	877	237
⊳ Line 11: Rebates and refunds of expenses	0	458,945	605,942	534,745	645,120
⊳ Line 12: Parking lot receipts	85,249	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	1,819,366	1,844,487	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	26,774	1,571,155	0	0	0
⊳ Line 18: Revenue from sale of medical records and abstracts	36,557	29,742	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	232,947	135,437	105,282
⊳ Line 21: Rental of vending machines	0	0	0	4,031	0
⊳ Line 22: Rental of hospital space	0	0	3,258,978	1,770,066	1,611,243
⊳ 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	27,687,285	14,347,729	12,013,364	49,111,780	12,731,476
Total income ? Median	33,083,544 6,586,430	27,958,079 6,767,106	37,406,356 8,419,950	52,406,101 8,094,175	22,456,930 15,162,888
Non-operating expenses Median	0 146,289.5	0 164,857	948,164 89,880.5	5,973,506 106,761	5,737,999 31,473.5
Net income Median	33,083,544 6,043,842	27,958,079 5,845,112	36,458,192 7,606,259	46,432,595 7,283,041	16,718,931 14,957,241
Net margin Median	8.97313% 4.62%	7.36332% 4.42%	9.18027% 5.16%	11.32553% 5.2%	4.17878% 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 BEVERLY 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	78,492,213 23,241,334	81,773,210 23,709,545	83,497,734 24,248,380	76,165,016 22,858,541	73,724,167 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	67,758,491 21,577,146	71,685,510 22,041,594	74,882,271 22,722,063	68,300,005 21,570,441	65,971,433 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	10,733,722 1,845,420	10,087,700 1,757,392	8,615,463 1,738,842	7,865,011 1,510,463	7,752,734 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	33,690,069 11,160,864	36,131,138 11,987,345	41,474,041 12,926,866	36,704,830 11,884,480	43,864,696 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	33,690,069 10,918,923	36,131,138 11,706,976	41,474,041 12,615,917	36,704,830 11,458,116	43,864,696 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	1,798,637 594,888	1,796,525 595,761	1,992,958 577,894	1,706,637 542,168	1,743,227 549,667
Outlier Median	1,942,899 582,572	1,074,190 538,116	70,438 212,434	67,550 126,559	45,761 139,139

Uncompensated care

Item	2017	2018	2019	2020	2021
Medicaid shortfall Median	1,945,681 3,662,910	4,258,289 3,730,911	0 4,081,319	0 4,643,908	0 4,389,147
Charity care Median	1,748,196 2,654,636	1,583,544 2,940,659	1,599,876 3,380,215	2,448,770 3,488,738	2,140,919 3,233,405
Uncompensated care (UCC) Median	6,452,409 5,147,790	5,867,887 5,337,617	5,452,682 5,711,082	5,401,410 5,923,418	5,065,779 5,508,107
UCC as a % of operating expenses Median	1.92% 3.24	1.67% 3.12	1.52% 3.21	1.51% 3.3	1.34% 2.86
Total shortfall/UCC Median	8,398,090 9,489,989	10,126,176 9,424,297	5,452,682 10,120,158	5,401,410 11,171,337	5,065,779 10,133,851

Labor costs

	2017	2018	2019	2020	2021
Total salaries Median	143,420,227 52,142,039	148,370,365 54,485,252	150,819,210 57,395,589	150,395,345 58,830,919	152,526,046 61,722,907
Salaries as a % of operating expenses Median	43.23 36.68	42.88 36.56	42.61 36.37	42.06 35.93	40.39 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	757,195 1,449,244	661,192 1,475,986	1,786,743 1,563,078	0 1,721,954	0 2,991,828
Contract hours, direct-care Median	13,560.00 22,725	8,184.00 23,018.5	24,558.97 24,503.48	0.00 25,026.5	0.00 33,786
Contract wages, direct-care Median	55.84 64.67	80.79 64.53	72.75 65.06	0.00 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.