As of the July, 2022, release via CMS

MARGARET R. PARDEE MEMORIAL HOSPITAL

CMS id: 340017
800 NORTH JUSTICE STREET, HENDERSONVILLE NC 28791. County: HENDERSON
System: UNC HEALTH CARE SYSTEM
CBSA: Asheville, NC

The 160-bed, acute-care hospital had $-2,611,770 in net service to patients*, with a total profit margin of 5.59192% in fiscal year 2021, the latest year available.
It spent 3.48% of its operating expenses on uncompensated care and reported $2,646,513 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	273	365	365	366	365
Ownership	gov	gov	gov	gov	gov
Acute beds Median	147 118	147 118	147 119.5	147 118	147 119
Total beds Median	160 162	160 162	160 162	160 162	160 163.5
FTEs Median	1,230.84 788.06	1,263.00 793.42	1,262.24 806.03	1,270.55 787.61	1,268.07 804.34

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	163,637,102 150,932,746	227,781,780 158,950,878	246,018,309 168,696,998	249,861,063 163,454,693	280,400,031 186,589,412
Operating expenses Median	164,608,540 149,311,209	237,933,502 156,110,414	243,847,622 164,890,568	257,363,830 166,516,854	283,011,801 180,120,888
Net income from service 2 patients (NS2P) ? Median	-971,438 -964,173	-10,151,722 -643,601.5	2,170,687 -116,254	-7,502,767 -5,025,862	-2,611,770 -1,284,564
NS2P margin ? Median	-0.59% -0.62	-4.46% -0.29	0.88% 0.18	-3.00% -5.07	-0.93% -0.88

Range* of Net Service to Patient (NS2P) margins

= NS2P margin for MARGARET R. PARDEE MEMORIAL HOSPITAL 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	4,995,907 5,089,215	8,197,812 4,572,541	6,552,340 5,268,134	13,653,549 13,092,619	19,374,945 12,369,236
⊳ Line 6: Contributions ? ⊳ Median	612,925 224,999	1,455,429 199,009	941,730 206,870.5	890,101 194,343	1,422,000 249,496
⊳ Line 7: Investments ? ⊳ Median	1,328,498 299,524	1,388,737 188,688.5	1,052,855 370,813	919,548 309,361.5	4,900,160 375,329
⊳ Line 8: Revenue from telephone service	NULL	NULL	NULL	NULL	NULL
⊳ Line 9: Revenue from tv and radio	11,25--	--	--	--	--
⊳ Line 10: Purchase discounts	249,349	397,133	377,265	405,771	527,510
⊳ 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	652,681	886,304	873,309	727,508	551,298
⊳ 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	2,439,461	2,469,842	2,497,668	2,800,946
⊳ Line 18: Revenue from sale of medical records and abstracts	5,400	745	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	57,279	111,028	130,686	131,955	0
⊳ Line 21: Rental of vending machines	0	14,845	16,832	12,608	9,628
⊳ Line 22: Rental of hospital space	180,288	249,687	34,266	35,736	63,212
⊳ 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	1,898,237	1,254,443	655,555	8,032,654	9,100,191
Total income ? Median	4,024,469 6,586,430	-1,953,910 6,767,106	8,723,027 8,419,950	6,150,782 8,094,175	16,763,175 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	4,024,469 6,043,842	-1,953,910 5,845,112	8,723,027 7,606,259	6,150,782 7,283,041	16,763,175 14,957,241
Net margin Median	2.38653% 4.62%	-0.82800% 4.42%	3.45370% 5.16%	2.33413% 5.2%	5.59192% 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 MARGARET R. PARDEE MEMORIAL HOSPITAL 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	24,526,461 23,241,334	32,376,951 23,709,545	32,805,638 24,248,380	34,267,934 22,858,541	31,970,811 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	24,526,461 21,577,146	32,376,951 22,041,594	32,805,638 22,722,063	34,267,934 21,570,441	31,970,811 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	28,176,554 11,160,864	40,043,809 11,987,345	43,454,284 12,926,866	45,858,919 11,884,480	45,979,294 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	26,159,468 10,918,923	37,570,079 11,706,976	41,549,351 12,615,917	43,438,187 11,458,116	43,733,471 12,776,716
⊳ Home Health agencies (HHA) ⊳ Median	2,017,086 1,282,808	2,473,730 1,407,728	1,904,933 1,341,512	2,420,732 1,407,046	2,245,823 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	742,913 3,284,314	954,081 3,250,551	956,054 3,386,837	970,015 3,360,806	965,379 3,508,953
Disproportionate-share hospital (DSH) Median	342,431 594,888	429,891 595,761	403,771 577,894	320,363 542,168	295,877 549,667
Outlier Median	620,580 582,572	625,168 538,116	462,433 212,434	287,295 126,559	188,616 139,139

Uncompensated care

Item	2017	2018	2019	2020	2021
Medicaid shortfall Median	0 3,662,910	3,275,638 3,730,911	4,578,213 4,081,319	1,426,721 4,643,908	2,646,513 4,389,147
Charity care Median	885,662 2,654,636	4,154,847 2,940,659	5,163,005 3,380,215	5,796,149 3,488,738	5,216,038 3,233,405
Uncompensated care (UCC) Median	9,521,704 5,147,790	10,030,977 5,337,617	10,385,411 5,711,082	11,331,599 5,923,418	9,849,647 5,508,107
UCC as a % of operating expenses Median	5.78% 3.24	4.22% 3.12	4.26% 3.21	4.40% 3.3	3.48% 2.86
Total shortfall/UCC Median	9,521,704 9,489,989	13,306,615 9,424,297	14,963,624 10,120,158	12,758,320 11,171,337	12,496,160 10,133,851

Labor costs

	2017	2018	2019	2020	2021
Total salaries Median	58,940,407 52,142,039	83,948,354 54,485,252	85,779,211 57,395,589	86,832,143 58,830,919	96,269,447 61,722,907
Salaries as a % of operating expenses Median	35.81 36.68	35.28 36.56	35.18 36.37	33.74 35.93	34.02 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	551,714 1,251,927	808,627 1,186,494	869,703 1,204,885	830,817 1,279,653	762,385 1,469,317
Contract adjusted salaries, direct-care Median	2,296,968 1,449,244	1,521,206 1,475,986	3,711,883 1,563,078	6,036,707 1,721,954	4,222,109 2,991,828
Contract hours, direct-care Median	40,922.00 22,725	30,024.00 23,018.5	57,058.00 24,503.48	99,270.00 25,026.5	56,346.00 33,786
Contract wages, direct-care Median	56.13 64.67	50.67 64.53	65.05 65.06	60.81 68.97	74.93 88.94

* in an approved program

Return to top

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.