As of the July, 2022, release via CMS

LOVELACE MEDICAL CENTER- DOWNTOWN

CMS id: 320009
601 MARTIN LUTHER KING JR. NE, ALBUQUERQUE NM 87102. County: BERNALILLO
System: ARDENT HEALTH SERVICES
CBSA: Albuquerque, NM

The 293-bed, acute-care hospital had $16,121,379 in net service to patients*, with a total profit margin of 5.01615% in fiscal year 2021, the latest year available.
It spent 1.04% 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	forprofit	forprofit	forprofit	forprofit	forprofit
Acute beds Median	246 118	246 118	245 119.5	245 118	245 119
Total beds Median	294 162	294 162	293 162	293 162	293 163.5
FTEs Median	1,111.15 788.06	1,124.76 793.42	1,173.98 806.03	1,216.00 787.61	1,197.18 804.34

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	270,968,910 150,932,746	281,154,509 158,950,878	295,456,269 168,696,998	335,463,581 163,454,693	366,273,805 186,589,412
Operating expenses Median	274,075,166 149,311,209	274,561,431 156,110,414	284,588,331 164,890,568	325,154,720 166,516,854	350,152,426 180,120,888
Net income from service 2 patients (NS2P) ? Median	-3,106,256 -964,173	6,593,078 -643,601.5	10,867,938 -116,254	10,308,861 -5,025,862	16,121,379 -1,284,564
NS2P margin ? Median	-1.15% -0.62	2.35% -0.29	3.68% 0.18	3.07% -5.07	4.40% -0.88

Range* of Net Service to Patient (NS2P) margins

= NS2P margin for LOVELACE MEDICAL CENTER- DOWNTOWN 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	1,628,415 5,089,215	1,582,613 4,572,541	1,377,124 5,268,134	2,210,668 13,092,619	2,370,359 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	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	2,125	1,769	2,143	4,086	2,008
⊳ 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	857,287	920,996	956,430	1,053,362	665,076
⊳ 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	19	27,998	793	776	22
⊳ 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	12,535	12,070	10,142	11,055	2,921
⊳ Line 22: Rental of hospital space	230,344	233,676	177,042	984,033	1,098,964
⊳ 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	526,105	386,104	230,574	157,356	601,368
Total income ? Median	-1,477,841 6,586,430	8,175,691 6,767,106	12,245,062 8,419,950	12,519,529 8,094,175	18,491,738 15,162,888
Non-operating expenses Median	-582,982 146,289.5	-759,541 164,857	-998,198 89,880.5	0 106,761	0 31,473.5
Net income Median	-894,859 6,043,842	8,935,232 5,845,112	13,243,260 7,606,259	12,519,529 7,283,041	18,491,738 14,957,241
Net margin Median	-0.32827% 4.62%	3.16026% 4.42%	4.46151% 5.16%	3.70758% 5.2%	5.01615% 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 LOVELACE MEDICAL CENTER- DOWNTOWN 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	47,398,693 23,241,334	50,665,016 23,709,545	54,941,898 24,248,380	59,210,136 22,858,541	62,123,882 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	47,398,693 21,577,146	50,665,016 22,041,594	54,941,898 22,722,063	59,210,136 21,570,441	62,123,882 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	16,518,791 11,160,864	18,349,002 11,987,345	19,497,244 12,926,866	25,239,260 11,884,480	25,429,219 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	16,518,791 10,918,923	18,349,002 11,706,976	19,497,244 12,615,917	25,239,260 11,458,116	25,429,219 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	1,320 3,284,314	0 3,250,551	0 3,386,837	7,331 3,360,806	50,613 3,508,953
Disproportionate-share hospital (DSH) Median	1,556,817 594,888	1,717,198 595,761	1,915,608 577,894	2,084,069 542,168	2,055,871 549,667
Outlier Median	1,225,248 582,572	1,517,909 538,116	1,739,141 212,434	352,925 126,559	382,754 139,139

Uncompensated care

Item	2017	2018	2019	2020	2021
Medicaid shortfall Median	4,092,956 3,662,910	5,253,066 3,730,911	3,533,821 4,081,319	3,628,043 4,643,908	0 4,389,147
Charity care Median	946,801 2,654,636	2,246,953 2,940,659	1,853,021 3,380,215	2,137,329 3,488,738	1,824,833 3,233,405
Uncompensated care (UCC) Median	2,383,045 5,147,790	3,325,416 5,337,617	4,228,615 5,711,082	4,526,199 5,923,418	3,645,193 5,508,107
UCC as a % of operating expenses Median	0.87% 3.24	1.21% 3.12	1.49% 3.21	1.39% 3.3	1.04% 2.86
Total shortfall/UCC Median	6,476,001 9,489,989	8,578,482 9,424,297	7,762,436 10,120,158	8,154,242 11,171,337	3,645,193 10,133,851

Labor costs

	2017	2018	2019	2020	2021
Total salaries Median	74,273,792 52,142,039	78,694,795 54,485,252	80,929,629 57,395,589	87,817,850 58,830,919	89,033,506 61,722,907
Salaries as a % of operating expenses Median	27.10 36.68	28.66 36.56	28.44 36.37	27.01 35.93	25.43 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	3,568,842 1,449,244	3,490,594 1,475,986	1,753,677 1,563,078	2,002,406 1,721,954	7,052,012 2,991,828
Contract hours, direct-care Median	51,924.00 22,725	46,720.00 23,018.5	25,171.90 24,503.48	28,047.00 25,026.5	74,626.00 33,786
Contract wages, direct-care Median	68.73 64.67	74.71 64.53	69.67 65.06	71.39 68.97	94.50 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.