As of the July, 2022, release via CMS

HOBOKEN UNIVERSITY MEDICAL CENTER

CMS id: 310040
308 WILLOW AVENUE, HOBOKEN NJ 7030. County: HUDSON
System: CAREPOINT HEALTH MANAGEMENT
CBSA: New York-Newark-Jersey City, NY-NJ-PA

The 180-bed, acute-care hospital had $-35,185,000 in net service to patients*, with a total profit margin of 1.59315% in fiscal year 2021, the latest year available.
It spent 7.00% of its operating expenses on uncompensated care and reported $1,771,119 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	102 119.5	102 118	99 119
Total beds Median	190 162	190 162	190 162	190 162	180 163.5
FTEs Median	877.39 788.06	914.70 793.42	960.97 806.03	837.09 787.61	819.00 804.34

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	218,750,835 150,932,746	201,294,942 158,950,878	188,329,876 168,696,998	152,222,328 163,454,693	152,035,536 186,589,412
Operating expenses Median	193,916,534 149,311,209	195,991,743 156,110,414	197,729,876 164,890,568	190,129,328 166,516,854	187,220,536 180,120,888
Net income from service 2 patients (NS2P) ? Median	24,834,301 -964,173	5,303,199 -643,601.5	-9,400,000 -116,254	-37,907,000 -5,025,862	-35,185,000 -1,284,564
NS2P margin ? Median	11.35% -0.62	2.63% -0.29	-4.99% 0.18	-24.90% -5.07	-23.14% -0.88

Range* of Net Service to Patient (NS2P) margins

= NS2P margin for HOBOKEN 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	12,371,505 5,089,215	16,394,780 4,572,541	20,892,000 5,268,134	28,015,000 13,092,619	38,216,000 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	23,690 299,524	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	11,708	0	0	0	0
⊳ Line 11: Rebates and refunds of expenses	0	0	0	0	0
⊳ Line 12: Parking lot receipts	30,357	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	0	0	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	0	0	0	0	0
⊳ Line 18: Revenue from sale of medical records and abstracts	9,922	0	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	0	0	0
⊳ Line 21: Rental of vending machines	12,180	0	0	0	0
⊳ Line 22: Rental of hospital space	160,437	0	0	0	0
⊳ Line 23: Gov appropriations ? ⊳ Median	6,766,230 1,017,693	11,123,778 983,261.5	11,237,000 1,173,286	14,704,699 1,987,202	0 1,597,664
⊳ Sum Line 24	5,356,981	5,271,002	9,655,000	13,310,301	38,216,000
Total income ? Median	37,205,806 6,586,430	21,697,979 6,767,106	11,492,000 8,419,950	-9,892,000 8,094,175	3,031,000 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	37,205,806 6,043,842	21,697,979 5,845,112	11,492,000 7,606,259	-9,892,000 7,283,041	3,031,000 14,957,241
Net margin Median	16.09788% 4.62%	9.96739% 4.42%	5.49273% 5.16%	-5.48832% 5.2%	1.59315% 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 HOBOKEN 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	25,384,211 23,241,334	22,903,361 23,709,545	20,807,119 24,248,380	22,774,192 22,858,541	23,109,156 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	19,777,883 21,577,146	17,901,930 22,041,594	16,288,947 22,722,063	19,020,466 21,570,441	18,358,536 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	1,739,439 1,845,420	1,536,031 1,757,392	1,540,634 1,738,842	928,525 1,510,463	1,212,113 1,393,140
⊳ Inpatient rehabilitation facility (IRF) ⊳ Median	2,423,374 3,535,627	2,177,515 3,746,588	1,728,049 3,782,288	1,893,662 3,865,578	2,461,949 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	1,443,515 1,203,033	1,287,885 1,215,295	1,249,489 1,313,657	931,539 1,365,298	1,076,558 1,179,746
All outpatient revenue Median Click here to show/hide details	5,486,784 11,160,864	5,905,264 11,987,345	5,376,840 12,926,866	4,200,347 11,884,480	4,764,449 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	5,486,784 10,918,923	5,905,264 11,706,976	5,376,840 12,615,917	4,200,347 11,458,116	4,764,449 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	3,212,923 3,284,314	3,156,961 3,250,551	2,954,008 3,386,837	3,130,419 3,360,806	2,829,492 3,508,953
Disproportionate-share hospital (DSH) Median	877,718 594,888	713,160 595,761	604,081 577,894	543,414 542,168	583,333 549,667
Outlier Median	891,069 582,572	1,231,059 538,116	813,132 212,434	1,804,845 126,559	3,111,607 139,139

Uncompensated care

Item	2017	2018	2019	2020	2021
Medicaid shortfall Median	2,894,381 3,662,910	5,573,045 3,730,911	11,022,753 4,081,319	6,741,028 4,643,908	1,771,119 4,389,147
Charity care Median	13,363,736 2,654,636	13,994,630 2,940,659	14,444,863 3,380,215	10,622,560 3,488,738	11,888,056 3,233,405
Uncompensated care (UCC) Median	17,578,161 5,147,790	15,853,404 5,337,617	18,160,387 5,711,082	11,869,084 5,923,418	13,104,907 5,508,107
UCC as a % of operating expenses Median	9.06% 3.24	8.09% 3.12	9.18% 3.21	6.24% 3.3	7.00% 2.86
Total shortfall/UCC Median	20,472,542 9,489,989	21,426,449 9,424,297	29,183,140 10,120,158	18,610,112 11,171,337	14,876,026 10,133,851

Labor costs

	2017	2018	2019	2020	2021
Total salaries Median	61,340,617 52,142,039	63,502,055 54,485,252	63,437,557 57,395,589	62,587,064 58,830,919	59,880,967 61,722,907
Salaries as a % of operating expenses Median	31.63 36.68	32.40 36.56	32.08 36.37	32.92 35.93	31.98 35.24
Intern, resident salaries* Median	2,596,025 2,598,592	2,736,728 2,686,824	2,760,207 2,753,773	2,868,712 2,937,156	2,800,836 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	853,306 1,449,244	801,251 1,475,986	0 1,563,078	0 1,721,954	0 2,991,828
Contract hours, direct-care Median	12,835.00 22,725	11,687.00 23,018.5	0.00 24,503.48	0.00 25,026.5	0.00 33,786
Contract wages, direct-care Median	66.48 64.67	68.56 64.53	0.00 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.