As of the July, 2022, release via CMS

CARTERET COUNTY GENERAL HOSPITAL COM

CMS id: 340142
3500 ARENDELL STREET, MOREHEAD CITY NC 28557. County: CARTERET
System: --
CBSA: Morehead City, NC

The 99-bed, acute-care hospital had $15,809,158 in net service to patients*, with a total profit margin of 14.40465% in fiscal year 2021, the latest year available.
It spent 6.67% 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	gov	gov	gov	gov	gov
Acute beds Median	91 118	91 118	91 119.5	91 118	91 119
Total beds Median	99 162	99 162	99 162	99 162	99 163.5
FTEs Median	906.75 788.06	956.11 793.42	964.41 806.03	964.41 787.61	983.96 804.34

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	155,388,055 150,932,746	163,665,829 158,950,878	174,803,437 168,696,998	166,558,859 163,454,693	181,139,350 186,589,412
Operating expenses Median	142,259,610 149,311,209	147,404,565 156,110,414	150,621,191 164,890,568	152,744,438 166,516,854	165,330,192 180,120,888
Net income from service 2 patients (NS2P) ? Median	13,128,445 -964,173	16,261,264 -643,601.5	24,182,246 -116,254	13,814,421 -5,025,862	15,809,158 -1,284,564
NS2P margin ? Median	8.45% -0.62	9.94% -0.29	13.83% 0.18	8.29% -5.07	8.73% -0.88

Range* of Net Service to Patient (NS2P) margins

= NS2P margin for CARTERET COUNTY GENERAL HOSPITAL COM 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	6,091,492 5,089,215	3,339,179 4,572,541	9,700,929 5,268,134	7,444,344 13,092,619	12,013,882 12,369,236
⊳ Line 6: Contributions ? ⊳ Median	2,566,222 224,999	763,235 199,009	723,154 206,870.5	-81,087 194,343	-1,249,676 249,496
⊳ Line 7: Investments ? ⊳ Median	723,436 299,524	-122,286 188,688.5	6,546,501 370,813	5,204,359 309,361.5	249,820 375,329
⊳ Line 8: Revenue from telephone service	NULL	NULL	NULL	NULL	NULL
⊳ Line 9: Revenue from tv and radio	--	--	--	--	--
⊳ Line 10: Purchase discounts	101,662	102,965	68,515	85,133	61,702
⊳ 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	851,667	885,044	878,639	766,586	729,886
⊳ 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	25,335	8,955	926	5,477	1,555
⊳ 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	229	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	1,822,941	1,701,266	1,483,194	1,463,876	12,220,595
Total income ? Median	19,219,937 6,586,430	19,600,443 6,767,106	33,883,175 8,419,950	21,258,765 8,094,175	27,823,040 15,162,888
Non-operating expenses Median	215,333 146,289.5	0 164,857	0 89,880.5	0 106,761	0 31,473.5
Net income Median	19,004,604 6,043,842	19,600,443 5,845,112	33,883,175 7,606,259	21,258,765 7,283,041	27,823,040 14,957,241
Net margin Median	11.76905% 4.62%	11.73644% 4.42%	18.36443% 5.16%	12.21746% 5.2%	14.40465% 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 CARTERET COUNTY GENERAL HOSPITAL COM 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	30,447,494 23,241,334	32,143,417 23,709,545	29,184,740 24,248,380	25,110,844 22,858,541	27,681,077 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	30,447,494 21,577,146	32,143,417 22,041,594	29,184,740 22,722,063	25,110,844 21,570,441	27,681,077 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	20,722,969 11,160,864	22,560,231 11,987,345	24,800,585 12,926,866	25,069,170 11,884,480	26,852,043 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	19,067,760 10,918,923	20,739,990 11,706,976	23,103,157 12,615,917	23,507,377 11,458,116	25,410,047 12,776,716
⊳ Home Health agencies (HHA) ⊳ Median	1,655,209 1,282,808	1,820,241 1,407,728	1,697,428 1,341,512	1,561,793 1,407,046	1,441,996 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	192,951 594,888	134,137 595,761	224,444 577,894	141,473 542,168	0 549,667
Outlier Median	752,777 582,572	443,514 538,116	71,854 212,434	91,520 126,559	134,205 139,139

Uncompensated care

Item	2017	2018	2019	2020	2021
Medicaid shortfall Median	0 3,662,910	636,020 3,730,911	2,126,990 4,081,319	1,763,075 4,643,908	0 4,389,147
Charity care Median	1,167,029 2,654,636	311,404 2,940,659	1,351,084 3,380,215	1,301,591 3,488,738	1,493,446 3,233,405
Uncompensated care (UCC) Median	10,785,933 5,147,790	8,025,537 5,337,617	9,150,527 5,711,082	11,960,976 5,923,418	11,023,626 5,508,107
UCC as a % of operating expenses Median	7.58% 3.24	5.44% 3.12	6.08% 3.21	7.83% 3.3	6.67% 2.86
Total shortfall/UCC Median	10,785,933 9,489,989	8,661,557 9,424,297	11,277,517 10,120,158	13,724,051 11,171,337	11,023,626 10,133,851

Labor costs

	2017	2018	2019	2020	2021
Total salaries Median	56,574,738 52,142,039	60,654,937 54,485,252	59,739,079 57,395,589	61,558,973 58,830,919	64,811,319 61,722,907
Salaries as a % of operating expenses Median	39.77 36.68	41.15 36.56	39.66 36.37	40.30 35.93	39.20 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	926,689 1,449,244	1,896,564 1,475,986	1,616,437 1,563,078	1,466,397 1,721,954	3,922,001 2,991,828
Contract hours, direct-care Median	14,465.25 22,725	27,557.76 23,018.5	24,491.85 24,503.48	22,972.14 25,026.5	42,607.11 33,786
Contract wages, direct-care Median	64.06 64.67	68.82 64.53	66.00 65.06	63.83 68.97	92.05 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.