As of the July, 2022, release via CMS

HACKENSACK UNIVERSITY MEDICAL CENTER

CMS id: 310001
30 PROSPECT AVENUE, HACKENSACK NJ 7601. County: BERGEN
System: MERIDIAN HOSPITALS CORP
CBSA: New York-Newark-Jersey City, NY-NJ-PA

The 711-bed, acute-care hospital had $-262,140,049 in net service to patients*, with a total profit margin of 5.68845% in fiscal year 2020, the latest year available.
It spent 3.73% of its operating expenses on uncompensated care and reported $64,582,137 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	--
Ownership	nfp	nfp	nfp	nfp	--
Acute beds Median	599 118	599 118	599 119.5	599 118	-- 119
Total beds Median	711 162	711 162	711 162	711 162	-- 163.5
FTEs Median	7,390.37 788.06	6,524.23 793.42	5,761.62 806.03	6,185.35 787.61	-- 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	1,567,145,753 150,932,746	1,674,633,238 158,950,878	1,857,890,512 168,696,998	1,675,508,203 163,454,693	-- 186,589,412
Operating expenses Median	1,650,497,597 149,311,209	1,619,128,039 156,110,414	1,729,400,923 164,890,568	1,937,648,252 166,516,854	-- 180,120,888
Net income from service 2 patients (NS2P) ? Median	-83,351,844 -964,173	55,505,199 -643,601.5	128,489,589 -116,254	-262,140,049 -5,025,862	-- -1,284,564
NS2P margin ? Median	-5.32% -0.62	3.31% -0.29	6.92% 0.18	-15.65% -5.07	--% -0.88

Range* of Net Service to Patient (NS2P) margins

= NS2P margin for HACKENSACK UNIVERSITY MEDICAL CENTER 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	261,071,888 5,089,215	101,335,010 4,572,541	112,538,869 5,268,134	379,010,406 13,092,619	-- 12,369,236
⊳ Line 6: Contributions ? ⊳ Median	0 224,999	0 199,009	0 206,870.5	0 194,343	-- 249,496
⊳ Line 7: Investments ? ⊳ Median	54,185,780 299,524	-565,289 188,688.5	-355,557 370,813	689,456 309,361.5	-- 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	--
⊳ Line 11: Rebates and refunds of expenses	0	0	0	0	--
⊳ Line 12: Parking lot receipts	0	0	0	0	--
⊳ Line 13: Revenue from laundry and linen service	0	0	0	0	--
⊳ Line 14: Revenue from meals sold to emplyees and guests	0	0	0	0	--
⊳ Line 15: Revenue from rental of living quarters	0	0	0	0	--
⊳ Line 16: Revenue from sale of medical and surgical supplies	0	0	0	0	--
⊳ Line 17: Revenue from sale of drugs to other than patients	0	0	0	0	--
⊳ Line 18: Revenue from sale of medical records and abstracts	0	0	0	0	--
⊳ Line 19: Tuition (fees, sale of textbooks, uniforms, etc.)	0	0	0	0	--
⊳ Line 20: Revenue from gifts, flowers, coffee shops, canteen	0	0	0	0	--
⊳ Line 21: Rental of vending machines	0	0	0	0	--
⊳ Line 22: Rental of hospital space	0	0	0	0	--
⊳ Line 23: Gov appropriations ? ⊳ Median	0 1,017,693	0 983,261.5	0 1,173,286	0 1,987,202	-- 1,597,664
⊳ Sum Line 24	206,886,108	101,900,299	112,894,426	378,320,950	--
Total income ? Median	177,720,044 6,586,430	156,840,209 6,767,106	241,028,458 8,419,950	116,870,357 8,094,175	-- 15,162,888
Non-operating expenses Median	17,310,739 146,289.5	0 164,857	15,000,000 89,880.5	0 106,761	-- 31,473.5
Net income Median	160,409,305 6,043,842	156,840,209 5,845,112	226,028,458 7,606,259	116,870,357 7,283,041	-- 14,957,241
Net margin Median	8.77408% 4.62%	8.83125% 4.42%	11.47103% 5.16%	5.68845% 5.2%	--% 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 HACKENSACK UNIVERSITY MEDICAL CENTER 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	218,140,489 23,241,334	233,063,973 23,709,545	236,520,401 24,248,380	228,216,382 22,858,541	-- 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	215,570,172 21,577,146	231,000,507 22,041,594	234,387,801 22,722,063	227,312,252 21,570,441	-- 22,140,684
⊳ Swingbeds ⊳ Median	0 --	0 --	0 --	0 --	-- --
⊳ Tax Equity and Fiscal Responsibility Act payments (TEFRA) ⊳ Median	0 --	0 --	0 --	0 --	-- --
⊳ Inpatient psychiatric facility (IPF) ⊳ Median	2,570,317 1,845,420	2,063,466 1,757,392	2,132,600 1,738,842	904,130 1,510,463	-- 1,393,140
⊳ Inpatient rehabilitation facility (IRF) ⊳ Median	0 3,535,627	0 3,746,588	0 3,782,288	0 3,865,578	-- 3,983,889
⊳ Long-term care hospital (LTCH) ⊳ Median	0 --	0 --	0 --	0 --	-- --
⊳ Critical-access hospitals ⊳ Median	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	-- 1,179,746
All outpatient revenue Median Click here to show/hide details	122,809,254 11,160,864	134,416,758 11,987,345	140,125,213 12,926,866	133,143,951 11,884,480	-- 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	122,809,254 10,918,923	134,416,758 11,706,976	140,125,213 12,615,917	133,143,951 11,458,116	-- 12,776,716
⊳ Home Health agencies (HHA) ⊳ Median	0 1,282,808	0 1,407,728	0 1,341,512	0 1,407,046	-- 1,476,867
⊳ Community mental health clinics (CMHC) ⊳ Median	0 --	0 --	0 --	0 --	-- --
⊳ Rural health clinics ⊳ Median	0 618,038	0 697,279	0 690,232	0 684,010	-- 670,558
⊳ Other federally qualified health clinics ⊳ Median	0 --	0 --	0 --	0 --	-- --

Other payments

Item	2017	2018	2019	2020	2021
Graduate Medical Education (GME) Median	25,688,103 3,284,314	26,065,466 3,250,551	25,028,417 3,386,837	24,436,787 3,360,806	-- 3,508,953
Disproportionate-share hospital (DSH) Median	4,152,282 594,888	4,423,683 595,761	3,784,908 577,894	3,792,135 542,168	-- 549,667
Outlier Median	11,642,539 582,572	15,824,057 538,116	2,266,031 212,434	1,682,781 126,559	-- 139,139

Uncompensated care

Item	2017	2018	2019	2020	2021
Medicaid shortfall Median	17,255,551 3,662,910	31,282,149 3,730,911	25,907,920 4,081,319	64,582,137 4,643,908	-- 4,389,147
Charity care Median	38,768,972 2,654,636	40,593,153 2,940,659	40,155,072 3,380,215	50,070,997 3,488,738	-- 3,233,405
Uncompensated care (UCC) Median	54,252,590 5,147,790	48,273,281 5,337,617	57,382,725 5,711,082	72,258,137 5,923,418	-- 5,508,107
UCC as a % of operating expenses Median	3.29% 3.24	2.98% 3.12	3.32% 3.21	3.73% 3.3	--% 2.86
Total shortfall/UCC Median	71,508,141 9,489,989	79,555,430 9,424,297	83,290,645 10,120,158	136,840,274 11,171,337	-- 10,133,851

Labor costs

	2017	2018	2019	2020	2021
Total salaries Median	696,295,982 52,142,039	581,185,842 54,485,252	613,740,630 57,395,589	680,361,787 58,830,919	-- 61,722,907
Salaries as a % of operating expenses Median	42.19 36.68	35.89 36.56	35.49 36.37	35.11 35.93	-- 35.24
Intern, resident salaries* Median	14,902,123 2,598,592	16,498,566 2,686,824	19,927,085 2,753,773	22,029,280 2,937,156	-- 2,909,848
Contract intern, resident salaries* Median	9,284,711 1,251,927	8,941,424 1,186,494	5,923,005 1,204,885	3,527,025 1,279,653	-- 1,469,317
Contract adjusted salaries, direct-care Median	11,365,195 1,449,244	11,035,097 1,475,986	9,836,576 1,563,078	24,916,149 1,721,954	-- 2,991,828
Contract hours, direct-care Median	310,889.00 22,725	278,897.00 23,018.5	141,856.00 24,503.48	279,969.00 25,026.5	-- 33,786
Contract wages, direct-care Median	36.56 64.67	39.57 64.53	69.34 65.06	89.00 68.97	-- 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.