As of the July, 2022, release via CMS

DUKE RALEIGH HOSPITAL

CMS id: 340073
3200 WAKE FOREST ROAD, RALEIGH NC 27611. County: WAKE
System: DUKE UNIVERSITY HEALTH SYSTEM
CBSA: Raleigh-Cary, NC

The 175-bed, acute-care hospital had $25,211,448 in net service to patients*, with a total profit margin of 9.86202% in fiscal year 2021, the latest year available.
It spent 6.80% of its operating expenses on uncompensated care and reported $14,381,864 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	131 118	133 118	133 119.5	133 118	133 119
Total beds Median	171 162	175 162	175 162	175 162	175 163.5
FTEs Median	1,382.82 788.06	1,456.71 793.42	1,571.33 806.03	1,744.47 787.61	1,860.72 804.34

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	418,517,733 150,932,746	450,247,952 158,950,878	501,879,982 168,696,998	501,759,381 163,454,693	564,845,828 186,589,412
Operating expenses Median	380,529,362 149,311,209	418,143,649 156,110,414	458,868,067 164,890,568	501,289,297 166,516,854	539,634,380 180,120,888
Net income from service 2 patients (NS2P) ? Median	37,988,371 -964,173	32,104,303 -643,601.5	43,011,915 -116,254	470,084 -5,025,862	25,211,448 -1,284,564
NS2P margin ? Median	9.08% -0.62	7.13% -0.29	8.57% 0.18	0.09% -5.07	4.46% -0.88

Range* of Net Service to Patient (NS2P) margins

= NS2P margin for DUKE RALEIGH 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	15,898,628 5,089,215	16,937,421 4,572,541	15,142,553 5,268,134	27,535,931 13,092,619	33,830,102 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	0	0	0	0	0
⊳ 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	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	0	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	0	0	0	0	0
⊳ Line 22: Rental of hospital space	0	0	0	0	0
⊳ 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	15,898,628	16,937,421	15,142,553	27,535,931	33,830,102
Total income ? Median	53,886,999 6,586,430	49,041,724 6,767,106	58,154,468 8,419,950	28,006,015 8,094,175	59,041,550 15,162,888
Non-operating expenses Median	697,523 146,289.5	0 164,857	0 89,880.5	0 106,761	0 31,473.5
Net income Median	53,189,476 6,043,842	49,041,724 5,845,112	58,154,468 7,606,259	28,006,015 7,283,041	59,041,550 14,957,241
Net margin Median	12.24389% 4.62%	10.49727% 4.42%	11.24796% 5.16%	5.29119% 5.2%	9.86202% 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 DUKE RALEIGH 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	47,670,776 23,241,334	44,771,733 23,709,545	47,785,250 24,248,380	51,120,778 22,858,541	54,030,855 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	47,670,776 21,577,146	44,771,733 22,041,594	47,785,250 22,722,063	51,120,778 21,570,441	54,030,855 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	50,721,255 11,160,864	58,237,016 11,987,345	63,994,720 12,926,866	63,275,498 11,884,480	71,438,832 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	50,721,255 10,918,923	58,237,016 11,706,976	63,994,720 12,615,917	63,275,498 11,458,116	71,438,832 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	0 3,386,837	0 3,360,806	0 3,508,953
Disproportionate-share hospital (DSH) Median	281,418 594,888	0 595,761	0 577,894	280,880 542,168	292,470 549,667
Outlier Median	906,765 582,572	1,256,481 538,116	1,080,334 212,434	211,870 126,559	228,781 139,139

Uncompensated care

Item	2017	2018	2019	2020	2021
Medicaid shortfall Median	11,211,150 3,662,910	11,379,970 3,730,911	10,964,818 4,081,319	13,553,009 4,643,908	14,381,864 4,389,147
Charity care Median	20,096,475 2,654,636	20,069,312 2,940,659	30,122,665 3,380,215	26,946,095 3,488,738	32,538,915 3,233,405
Uncompensated care (UCC) Median	22,867,548 5,147,790	23,492,706 5,337,617	33,423,154 5,711,082	29,402,916 5,923,418	36,709,273 5,508,107
UCC as a % of operating expenses Median	6.01% 3.24	5.62% 3.12	7.28% 3.21	5.87% 3.3	6.80% 2.86
Total shortfall/UCC Median	34,078,698 9,489,989	34,872,676 9,424,297	44,387,972 10,120,158	42,955,925 11,171,337	51,091,137 10,133,851

Labor costs

	2017	2018	2019	2020	2021
Total salaries Median	94,980,425 52,142,039	102,826,204 54,485,252	112,914,529 57,395,589	127,748,395 58,830,919	138,726,329 61,722,907
Salaries as a % of operating expenses Median	24.39 36.68	23.98 36.56	24.01 36.37	24.91 35.93	25.19 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	4,640,308 1,449,244	2,412,409 1,475,986	3,778,013 1,563,078	5,409,783 1,721,954	3,429,024 2,991,828
Contract hours, direct-care Median	75,726.43 22,725	38,120.53 23,018.5	58,125.79 24,503.48	81,840.23 25,026.5	46,812.40 33,786
Contract wages, direct-care Median	61.28 64.67	63.28 64.53	65.00 65.06	66.10 68.97	73.25 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.