As of the July, 2022, release via CMS

IREDELL MEMORIAL HOSPITAL

CMS id: 340039
557 BROOKDALE DRIVE, STATESVILLE NC 28677. County: IREDELL
System: --
CBSA: Charlotte-Concord-Gastonia, NC-SC

The 203-bed, acute-care hospital had $6,799,449 in net service to patients*, with a total profit margin of 11.17357% in fiscal year 2021, the latest year available.
It spent 2.81% of its operating expenses on uncompensated care and reported $435,270 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	nfp	nfp	nfp	nfp	nfp
Acute beds Median	139 118	139 118	139 119.5	139 118	139 119
Total beds Median	203 162	203 162	203 162	203 162	203 163.5
FTEs Median	1,191.15 788.06	1,220.18 793.42	1,274.54 806.03	1,245.38 787.61	1,275.24 804.34

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	167,112,668 150,932,746	168,104,479 158,950,878	182,603,702 168,696,998	181,549,909 163,454,693	207,794,841 186,589,412
Operating expenses Median	167,287,149 149,311,209	170,325,882 156,110,414	179,525,247 164,890,568	178,540,600 166,516,854	200,995,392 180,120,888
Net income from service 2 patients (NS2P) ? Median	-174,481 -964,173	-2,221,403 -643,601.5	3,078,455 -116,254	3,009,309 -5,025,862	6,799,449 -1,284,564
NS2P margin ? Median	-0.10% -0.62	-1.32% -0.29	1.69% 0.18	1.66% -5.07	3.27% -0.88

Range* of Net Service to Patient (NS2P) margins

= NS2P margin for IREDELL 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	14,259,716 5,089,215	9,714,578 4,572,541	4,275,278 5,268,134	10,020,989 13,092,619	18,483,974 12,369,236
⊳ Line 6: Contributions ? ⊳ Median	133,719 224,999	116,817 199,009	171,186 206,870.5	11,578 194,343	800 249,496
⊳ Line 7: Investments ? ⊳ Median	6,850,428 299,524	4,948,178 188,688.5	5,281,348 370,813	6,461,461 309,361.5	12,549,125 375,329
⊳ Line 8: Revenue from telephone service	NULL	NULL	NULL	NULL	NULL
⊳ Line 9: Revenue from tv and radio	--	--	--	--	--
⊳ Line 10: Purchase discounts	402,154	455,598	284,920	6,216	51,624
⊳ 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	298,971	290,507	256,255	204,026	196,201
⊳ 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	19,975	20,177	22,135	66,155	37,789
⊳ Line 19: Tuition (fees, sale of textbooks, uniforms, etc.)	0	0	0	0	0
⊳ Line 20: Revenue from gifts, flowers, coffee shops, canteen	590,573	561,590	728,575	624,870	579,158
⊳ Line 21: Rental of vending machines	8,435	7,364	6,506	0	0
⊳ Line 22: Rental of hospital space	0	0	0	153,121	91,232
⊳ 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	5,955,461	3,314,347	-2,475,647	2,493,562	4,978,045
Total income ? Median	14,085,235 6,586,430	7,493,175 6,767,106	7,353,733 8,419,950	13,030,298 8,094,175	25,283,423 15,162,888
Non-operating expenses Median	19,983 146,289.5	7 164,857	0 89,880.5	0 106,761	0 31,473.5
Net income Median	14,065,252 6,043,842	7,493,168 5,845,112	7,353,733 7,606,259	13,030,298 7,283,041	25,283,423 14,957,241
Net margin Median	7.75490% 4.62%	4.21393% 4.42%	3.93502% 5.16%	6.80181% 5.2%	11.17357% 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 IREDELL 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	30,185,595 23,241,334	29,426,847 23,709,545	31,576,418 24,248,380	28,630,832 22,858,541	27,425,306 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	28,180,134 21,577,146	27,130,538 22,041,594	28,234,129 22,722,063	25,128,741 21,570,441	24,840,561 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	2,005,461 1,203,033	2,296,309 1,215,295	3,342,289 1,313,657	3,502,091 1,365,298	2,584,745 1,179,746
All outpatient revenue Median Click here to show/hide details	16,758,414 11,160,864	16,511,223 11,987,345	16,690,232 12,926,866	15,242,564 11,884,480	12,529,571 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	15,241,415 10,918,923	14,816,861 11,706,976	14,809,384 12,615,917	13,218,538 11,458,116	12,283,334 12,776,716
⊳ Home Health agencies (HHA) ⊳ Median	1,516,999 1,282,808	1,694,362 1,407,728	1,880,848 1,341,512	2,024,026 1,407,046	246,237 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	0 3,386,837	0 3,360,806	0 3,508,953
Disproportionate-share hospital (DSH) Median	511,706 594,888	211,974 595,761	281,494 577,894	211,109 542,168	351,784 549,667
Outlier Median	760,060 582,572	506,569 538,116	95,909 212,434	61,351 126,559	98,952 139,139

Uncompensated care

Item	2017	2018	2019	2020	2021
Medicaid shortfall Median	2,391,098 3,662,910	1,421 3,730,911	9,098 4,081,319	3,049 4,643,908	435,270 4,389,147
Charity care Median	2,132,928 2,654,636	3,342,722 2,940,659	2,388,709 3,380,215	1,518,395 3,488,738	1,875,077 3,233,405
Uncompensated care (UCC) Median	6,443,217 5,147,790	6,914,020 5,337,617	7,127,599 5,711,082	6,867,561 5,923,418	5,642,998 5,508,107
UCC as a % of operating expenses Median	3.85% 3.24	4.06% 3.12	3.97% 3.21	3.85% 3.3	2.81% 2.86
Total shortfall/UCC Median	8,834,315 9,489,989	6,915,441 9,424,297	7,136,697 10,120,158	6,870,610 11,171,337	6,078,268 10,133,851

Labor costs

	2017	2018	2019	2020	2021
Total salaries Median	74,097,933 52,142,039	78,177,099 54,485,252	83,139,377 57,395,589	82,027,156 58,830,919	90,408,039 61,722,907
Salaries as a % of operating expenses Median	44.29 36.68	45.90 36.56	46.31 36.37	45.94 35.93	44.98 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	3,316,322 1,449,244	2,255,406 1,475,986	367,700 1,563,078	986,374 1,721,954	736,602 2,991,828
Contract hours, direct-care Median	43,437.79 22,725	30,475.00 23,018.5	3,038.60 24,503.48	11,991.75 25,026.5	7,303.78 33,786
Contract wages, direct-care Median	76.35 64.67	74.01 64.53	121.01 65.06	82.25 68.97	100.85 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.