As of the July, 2022, release via CMS

CATAWBA VALLEY MEDICAL CENTER

CMS id: 340143
810 FAIRGROVE CHURCH ROAD SE, HICKORY NC 28602. County: CATAWBA
System: --
CBSA: Hickory-Lenoir-Morganton, NC

The 258-bed, acute-care hospital had $16,780,286 in net service to patients*, with a total profit margin of 10.45696% in fiscal year 2021, the latest year available.
It spent 8.95% of its operating expenses on uncompensated care and reported $248,034 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	172 118	172 118	172 119.5	172 118	169 119
Total beds Median	258 162	258 162	258 162	261 162	258 163.5
FTEs Median	1,409.81 788.06	1,397.92 793.42	1,442.05 806.03	1,408.74 787.61	1,458.18 804.34

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	245,544,004 150,932,746	253,592,962 158,950,878	278,187,052 168,696,998	274,290,269 163,454,693	290,342,636 186,589,412
Operating expenses Median	234,648,438 149,311,209	244,865,912 156,110,414	251,083,170 164,890,568	255,930,033 166,516,854	273,562,350 180,120,888
Net income from service 2 patients (NS2P) ? Median	10,895,566 -964,173	8,727,050 -643,601.5	27,103,882 -116,254	18,360,236 -5,025,862	16,780,286 -1,284,564
NS2P margin ? Median	4.44% -0.62	3.44% -0.29	9.74% 0.18	6.69% -5.07	5.78% -0.88

Range* of Net Service to Patient (NS2P) margins

= NS2P margin for CATAWBA VALLEY MEDICAL 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	6,737,179 5,089,215	6,949,064 4,572,541	8,267,313 5,268,134	13,578,367 13,092,619	15,166,719 12,369,236
⊳ Line 6: Contributions ? ⊳ Median	1,370,718 224,999	1,224,701 199,009	1,532,704 206,870.5	1,340,300 194,343	1,236,515 249,496
⊳ Line 7: Investments ? ⊳ Median	979,657 299,524	1,705,000 188,688.5	2,361,292 370,813	1,904,466 309,361.5	1,752,864 375,329
⊳ Line 8: Revenue from telephone service	NULL	NULL	NULL	NULL	NULL
⊳ Line 9: Revenue from tv and radio	--	--	--	--	--
⊳ Line 10: Purchase discounts	6,484	8,653	145,527	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	69,390	81,920	98,025	98,828	102,438
⊳ Line 14: Revenue from meals sold to emplyees and guests	836,642	748,173	833,192	793,746	765,172
⊳ 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	24,475	18,514	18,177	5,726	7,629
⊳ Line 19: Tuition (fees, sale of textbooks, uniforms, etc.)	0	0	0	0	0
⊳ Line 20: Revenue from gifts, flowers, coffee shops, canteen	467,993	427,127	362,482	434,209	30,114
⊳ Line 21: Rental of vending machines	0	0	0	0	0
⊳ Line 22: Rental of hospital space	182,861	150,225	263,149	296,828	1,466,938
⊳ 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	2,798,959	2,584,751	2,652,765	8,704,264	9,805,049
Total income ? Median	17,632,745 6,586,430	15,676,114 6,767,106	35,371,195 8,419,950	31,938,603 8,094,175	31,947,005 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	17,632,745 6,043,842	15,676,114 5,845,112	35,371,195 7,606,259	31,938,603 7,283,041	31,947,005 14,957,241
Net margin Median	6.98932% 4.62%	6.01673% 4.42%	12.34793% 5.16%	11.09485% 5.2%	10.45696% 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 CATAWBA VALLEY MEDICAL 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	30,404,031 23,241,334	32,390,552 23,709,545	32,776,272 24,248,380	32,850,140 22,858,541	34,050,670 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	27,399,788 21,577,146	29,693,061 22,041,594	30,590,545 22,722,063	30,061,731 21,570,441	31,623,846 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	1,829,986 1,845,420	1,783,255 1,757,392	1,422,385 1,738,842	1,517,127 1,510,463	1,373,618 1,393,140
⊳ Inpatient rehabilitation facility (IRF) ⊳ Median	1,174,257 3,535,627	914,236 3,746,588	763,342 3,782,288	1,271,282 3,865,578	1,053,206 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	19,184,192 11,160,864	21,436,699 11,987,345	23,753,987 12,926,866	24,051,185 11,884,480	24,201,342 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	19,184,192 10,918,923	21,436,699 11,706,976	23,753,987 12,615,917	24,051,185 11,458,116	24,201,342 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	1,078,027 594,888	1,134,202 595,761	1,105,937 577,894	1,115,857 542,168	777,939 549,667
Outlier Median	1,534,440 582,572	973,596 538,116	752,433 212,434	411,578 126,559	290,571 139,139

Uncompensated care

Item	2017	2018	2019	2020	2021
Medicaid shortfall Median	0 3,662,910	94,574 3,730,911	114,429 4,081,319	121,241 4,643,908	248,034 4,389,147
Charity care Median	5,459,190 2,654,636	5,049,221 2,940,659	6,397,305 3,380,215	6,534,892 3,488,738	7,997,499 3,233,405
Uncompensated care (UCC) Median	17,387,467 5,147,790	18,859,405 5,337,617	19,414,242 5,711,082	16,260,348 5,923,418	24,480,793 5,508,107
UCC as a % of operating expenses Median	7.41% 3.24	7.70% 3.12	7.73% 3.21	6.35% 3.3	8.95% 2.86
Total shortfall/UCC Median	17,387,467 9,489,989	18,953,979 9,424,297	19,528,671 10,120,158	16,381,589 11,171,337	24,728,827 10,133,851

Labor costs

	2017	2018	2019	2020	2021
Total salaries Median	95,316,911 52,142,039	99,074,707 54,485,252	101,220,467 57,395,589	103,785,500 58,830,919	107,693,281 61,722,907
Salaries as a % of operating expenses Median	40.62 36.68	40.46 36.56	40.31 36.37	40.55 35.93	39.37 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	1,072,844 1,449,244	1,145,743 1,475,986	1,358,999 1,563,078	2,854,284 1,721,954	1,821,706 2,991,828
Contract hours, direct-care Median	18,070.87 22,725	12,512.42 23,018.5	21,828.00 24,503.48	41,282.00 25,026.5	19,819.33 33,786
Contract wages, direct-care Median	59.37 64.67	91.57 64.53	62.26 65.06	69.14 68.97	91.92 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.