As of the July, 2022, release via CMS

STEWARD ST. ELIZABETHS MEDICAL CTR

CMS id: 220036
736 CAMBRIDGE STREET, BOSTON MA 2135. County: SUFFOLK
System: STEWARD HEALTH CARE INC.
CBSA: Boston-Cambridge-Newton, MA-NH

The 302-bed, acute-care hospital had $27,438,301 in net service to patients*, with a total profit margin of 9.89696% in fiscal year 2021, the latest year available.
It spent 1.23% of its operating expenses on uncompensated care and reported $6,530,108 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	160 118	166 118	172 119.5	172 118	184 119
Total beds Median	268 162	274 162	280 162	282 162	302 163.5
FTEs Median	1,631.48 788.06	1,701.13 793.42	1,761.93 806.03	1,726.66 787.61	1,771.82 804.34

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	360,668,372 150,932,746	381,055,490 158,950,878	404,919,217 168,696,998	379,956,146 163,454,693	422,467,983 186,589,412
Operating expenses Median	348,246,914 149,311,209	369,179,099 156,110,414	380,469,137 164,890,568	390,994,028 166,516,854	395,029,682 180,120,888
Net income from service 2 patients (NS2P) ? Median	12,421,458 -964,173	11,876,391 -643,601.5	24,450,080 -116,254	-11,037,882 -5,025,862	27,438,301 -1,284,564
NS2P margin ? Median	3.44% -0.62	3.12% -0.29	6.04% 0.18	-2.91% -5.07	6.49% -0.88

Range* of Net Service to Patient (NS2P) margins

= NS2P margin for STEWARD ST. ELIZABETHS MEDICAL CTR 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	1,902,064 5,089,215	3,290,908 4,572,541	7,732,770 5,268,134	35,720,982 13,092,619	15,951,956 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	33,483 309,361.5	55,022 375,329
⊳ 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	1,927,389	2,346,249
⊳ Line 12: Parking lot receipts	0	0	0	1,069,085	1,241,785
⊳ 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	875,846	970,621
⊳ 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	0	0	0	0	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	63,860	35,470
⊳ Line 20: Revenue from gifts, flowers, coffee shops, canteen	0	0	0	0	0
⊳ Line 21: Rental of vending machines	0	0	0	9,217	16,480
⊳ Line 22: Rental of hospital space	0	0	0	1,435,535	1,767,608
⊳ 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	1,902,064	3,290,908	7,732,770	30,306,567	9,518,721
Total income ? Median	14,323,522 6,586,430	15,167,299 6,767,106	32,182,850 8,419,950	24,683,100 8,094,175	43,390,257 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	14,323,522 6,043,842	15,167,299 5,845,112	32,182,850 7,606,259	24,683,100 7,283,041	43,390,257 14,957,241
Net margin Median	3.95055% 4.62%	3.94626% 4.42%	7.79903% 5.16%	5.93805% 5.2%	9.89696% 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 STEWARD ST. ELIZABETHS MEDICAL CTR 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	101,599,438 23,241,334	106,246,846 23,709,545	109,317,798 24,248,380	106,228,576 22,858,541	109,553,406 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	93,590,464 21,577,146	98,863,756 22,041,594	101,646,981 22,722,063	99,495,816 21,570,441	103,471,629 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	8,008,974 1,845,420	7,383,090 1,757,392	7,670,817 1,738,842	6,732,760 1,510,463	6,081,777 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	23,371,299 11,160,864	24,670,924 11,987,345	25,986,706 12,926,866	21,103,891 11,884,480	24,931,993 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	23,371,299 10,918,923	24,670,924 11,706,976	25,986,706 12,615,917	21,103,891 11,458,116	24,931,993 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	23,570,613 3,284,314	24,038,470 3,250,551	24,839,326 3,386,837	23,674,386 3,360,806	24,532,843 3,508,953
Disproportionate-share hospital (DSH) Median	2,742,851 594,888	2,805,298 595,761	2,802,320 577,894	2,795,391 542,168	2,653,552 549,667
Outlier Median	5,943,504 582,572	7,474,121 538,116	751,121 212,434	684,823 126,559	381,451 139,139

Uncompensated care

Item	2017	2018	2019	2020	2021
Medicaid shortfall Median	3,853,027 3,662,910	8,294,670 3,730,911	7,851,488 4,081,319	9,944,088 4,643,908	6,530,108 4,389,147
Charity care Median	1,779,496 2,654,636	2,703,596 2,940,659	2,001,827 3,380,215	2,596,743 3,488,738	1,699,382 3,233,405
Uncompensated care (UCC) Median	4,679,402 5,147,790	5,842,086 5,337,617	5,433,874 5,711,082	5,885,557 5,923,418	4,843,682 5,508,107
UCC as a % of operating expenses Median	1.34% 3.24	1.58% 3.12	1.43% 3.21	1.51% 3.3	1.23% 2.86
Total shortfall/UCC Median	8,532,429 9,489,989	14,136,756 9,424,297	13,285,362 10,120,158	15,829,645 11,171,337	11,373,790 10,133,851

Labor costs

	2017	2018	2019	2020	2021
Total salaries Median	135,514,389 52,142,039	142,695,209 54,485,252	152,729,899 57,395,589	153,470,358 58,830,919	162,306,077 61,722,907
Salaries as a % of operating expenses Median	38.91 36.68	38.65 36.56	40.14 36.37	39.25 35.93	41.09 35.24
Intern, resident salaries* Median	10,384,733 2,598,592	10,676,749 2,686,824	11,739,019 2,753,773	12,677,486 2,937,156	13,064,016 2,909,848
Contract intern, resident salaries* Median	996,785 1,251,927	689,864 1,186,494	596,275 1,204,885	654,349 1,279,653	606,109 1,469,317
Contract adjusted salaries, direct-care Median	5,744,658 1,449,244	3,733,017 1,475,986	4,026,722 1,563,078	3,900,246 1,721,954	13,320,941 2,991,828
Contract hours, direct-care Median	88,814.00 22,725	63,750.00 23,018.5	62,422.00 24,503.48	48,016.00 25,026.5	119,154.00 33,786
Contract wages, direct-care Median	64.68 64.67	58.56 64.53	64.51 65.06	81.23 68.97	111.80 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.