As of the July, 2022, release via CMS

PUTNAM HOSPITAL CENTER

CMS id: 330273
670 STONELEIGH AVE, CARMEL NY 10512. County: PUTNAM
System: HEALTH QUEST SYSTEM
CBSA: New York-Newark-Jersey City, NY-NJ-PA

The 102-bed, acute-care hospital had $-27,675,394 in net service to patients*, with a total profit margin of -4.81310% in fiscal year 2021, the latest year available.
It spent 1.73% of its operating expenses on uncompensated care and reported $8,093,284 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	273	366	365
Ownership	nfp	nfp	nfp	nfp	nfp
Acute beds Median	134 118	110 118	110 119.5	72 118	72 119
Total beds Median	164 162	140 162	140 162	102 162	102 163.5
FTEs Median	660.70 788.06	634.90 793.42	645.90 806.03	566.20 787.61	546.00 804.34

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	158,241,178 150,932,746	153,462,357 158,950,878	109,877,530 168,696,998	124,616,837 163,454,693	121,098,850 186,589,412
Operating expenses Median	156,325,098 149,311,209	154,648,900 156,110,414	121,666,169 164,890,568	155,753,044 166,516,854	148,774,244 180,120,888
Net income from service 2 patients (NS2P) ? Median	1,916,080 -964,173	-1,186,543 -643,601.5	-11,788,639 -116,254	-31,136,207 -5,025,862	-27,675,394 -1,284,564
NS2P margin ? Median	1.21% -0.62	-0.77% -0.29	-10.73% 0.18	-24.99% -5.07	-22.85% -0.88

Range* of Net Service to Patient (NS2P) margins

= NS2P margin for PUTNAM HOSPITAL 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	5,903,917 5,089,215	8,096,656 4,572,541	4,445,367 5,268,134	22,399,140 13,092,619	16,983,559 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	2,305,331 299,524	3,422,775 188,688.5	815,751 370,813	5,513,473 309,361.5	2,339,453 375,329
⊳ 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	25,941
⊳ Line 11: Rebates and refunds of expenses	298,354	448,189	372,724	168,437	322,105
⊳ 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	607,959	630,776	470,876	432,172	290,856
⊳ 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	71,833	50,987	33,372	31,319	24,893
⊳ 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	17,879	17,237	4,070	7,086	2,716
⊳ Line 22: Rental of hospital space	1,567,341	1,995,119	1,290,495	1,727,862	2,073,682
⊳ 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	1,035,220	1,531,573	1,458,079	14,518,791	11,903,913
Total income ? Median	7,819,997 6,586,430	6,910,113 6,767,106	-7,343,272 8,419,950	-8,737,067 8,094,175	-10,691,835 15,162,888
Non-operating expenses Median	-3,716,563 146,289.5	5,711,954 164,857	-5,567,272 89,880.5	1,321,310 106,761	-4,045,793 31,473.5
Net income Median	11,536,560 6,043,842	1,198,159 5,845,112	-1,776,000 7,606,259	-10,058,377 7,283,041	-6,646,042 14,957,241
Net margin Median	7.02827% 4.62%	0.74162% 4.42%	-1.55349% 5.16%	-6.84169% 5.2%	-4.81310% 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 PUTNAM HOSPITAL 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	30,085,291 23,241,334	28,898,103 23,709,545	19,956,411 24,248,380	24,663,954 22,858,541	21,322,979 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	28,730,467 21,577,146	28,042,394 22,041,594	18,736,461 22,722,063	23,135,542 21,570,441	20,199,214 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	1,354,824 1,845,420	855,709 1,757,392	1,219,950 1,738,842	1,528,412 1,510,463	1,123,765 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	13,784,645 11,160,864	14,206,254 11,987,345	10,574,923 12,926,866	12,157,903 11,884,480	13,178,754 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	13,784,645 10,918,923	14,206,254 11,706,976	10,574,923 12,615,917	12,157,903 11,458,116	13,178,754 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	53,873 3,386,837	607,726 3,360,806	1,175,641 3,508,953
Disproportionate-share hospital (DSH) Median	0 594,888	0 595,761	0 577,894	0 542,168	0 549,667
Outlier Median	283,099 582,572	201,089 538,116	63,595 212,434	58,194 126,559	103,300 139,139

Uncompensated care

Item	2017	2018	2019	2020	2021
Medicaid shortfall Median	2,335,468 3,662,910	2,496,605 3,730,911	5,135,643 4,081,319	8,917,460 4,643,908	8,093,284 4,389,147
Charity care Median	2,181,634 2,654,636	2,061,956 2,940,659	1,865,886 3,380,215	1,638,570 3,488,738	1,934,874 3,233,405
Uncompensated care (UCC) Median	2,786,963 5,147,790	2,762,788 5,337,617	2,409,736 5,711,082	2,242,366 5,923,418	2,573,534 5,508,107
UCC as a % of operating expenses Median	1.78% 3.24	1.79% 3.12	1.98% 3.21	1.44% 3.3	1.73% 2.86
Total shortfall/UCC Median	5,122,431 9,489,989	5,259,393 9,424,297	7,545,379 10,120,158	11,159,826 11,171,337	10,666,818 10,133,851

Labor costs

	2017	2018	2019	2020	2021
Total salaries Median	52,426,999 52,142,039	52,007,660 54,485,252	39,730,349 57,395,589	52,184,519 58,830,919	48,027,874 61,722,907
Salaries as a % of operating expenses Median	33.39 36.68	33.49 36.56	32.52 36.37	33.39 35.93	32.28 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	534,228 1,449,244	792,278 1,475,986	654,162 1,563,078	639,333 1,721,954	482,422 2,991,828
Contract hours, direct-care Median	7,400.00 22,725	13,601.50 23,018.5	9,756.00 24,503.48	12,051.02 25,026.5	3,714.50 33,786
Contract wages, direct-care Median	72.19 64.67	58.25 64.53	67.05 65.06	53.05 68.97	129.88 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.