As of the July, 2022, release via CMS

LANDMARK MEDICAL CENTER

CMS id: 410011
115 CASS AVENUE, WOONSOCKET RI 2895. County: PROVIDENCE
System: PRIME HEALTHCARE MGMT SRVS
CBSA: Providence-Warwick, RI-MA

The 141-bed, acute-care hospital had $16,814,864 in net service to patients*, with a total profit margin of 15.01502% in fiscal year 2021, the latest year available.
It spent 0.95% 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	nfp	nfp	nfp	nfp	nfp
Acute beds Median	107 118	107 118	107 119.5	107 118	107 119
Total beds Median	141 162	141 162	141 162	141 162	141 163.5
FTEs Median	667.35 788.06	650.10 793.42	644.75 806.03	610.56 787.61	584.85 804.34

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	100,370,018 150,932,746	119,617,683 158,950,878	121,153,269 168,696,998	131,799,722 163,454,693	144,316,097 186,589,412
Operating expenses Median	122,326,891 149,311,209	122,599,058 156,110,414	126,834,241 164,890,568	127,520,841 166,516,854	127,501,233 180,120,888
Net income from service 2 patients (NS2P) ? Median	-21,956,873 -964,173	-2,981,375 -643,601.5	-5,680,972 -116,254	4,278,881 -5,025,862	16,814,864 -1,284,564
NS2P margin ? Median	-21.88% -0.62	-2.49% -0.29	-4.69% 0.18	3.25% -5.07	11.65% -0.88

Range* of Net Service to Patient (NS2P) margins

= NS2P margin for LANDMARK 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	9,419,371 5,089,215	10,860,103 4,572,541	11,702,865 5,268,134	9,308,362 13,092,619	6,686,151 12,369,236
⊳ Line 6: Contributions ? ⊳ Median	0 224,999	7,649 199,009	4,613 206,870.5	5,403 194,343	13,501 249,496
⊳ Line 7: Investments ? ⊳ Median	0 299,524	0 188,688.5	8,087 370,813	3,796 309,361.5	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	229,550	75	214	0	31
⊳ Line 11: Rebates and refunds of expenses	0	0	446,456	17,132	48,934
⊳ 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	349,916	359,531	338,455	260,016	262,883
⊳ 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	7,048	7,633	4,374	3,013	2,428
⊳ Line 19: Tuition (fees, sale of textbooks, uniforms, etc.)	0	0	0	0	0
⊳ Line 20: Revenue from gifts, flowers, coffee shops, canteen	0	13,087	0	0	0
⊳ Line 21: Rental of vending machines	11,928	0	12,796	9,275	8,698
⊳ Line 22: Rental of hospital space	0	0	375,744	316,447	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	8,820,929	10,472,128	10,512,126	8,693,280	6,349,676
Total income ? Median	-12,537,502 6,586,430	7,878,728 6,767,106	6,021,893 8,419,950	13,587,243 8,094,175	23,501,015 15,162,888
Non-operating expenses Median	602,374 146,289.5	687,138 164,857	892,568 89,880.5	768,403 106,761	827,992 31,473.5
Net income Median	-13,139,876 6,043,842	7,191,590 5,845,112	5,129,325 7,606,259	12,818,840 7,283,041	22,673,023 14,957,241
Net margin Median	-11.96826% 4.62%	5.51174% 4.42%	3.86081% 5.16%	9.08441% 5.2%	15.01502% 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 LANDMARK 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	20,932,074 23,241,334	19,671,163 23,709,545	17,346,177 24,248,380	17,291,553 22,858,541	16,751,591 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	19,883,081 21,577,146	18,737,041 22,041,594	16,591,424 22,722,063	16,747,427 21,570,441	15,906,009 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	1,048,993 1,845,420	934,122 1,757,392	754,753 1,738,842	544,126 1,510,463	845,582 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	6,947,840 11,160,864	7,874,635 11,987,345	7,882,399 12,926,866	6,807,900 11,884,480	5,708,560 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	6,947,840 10,918,923	7,874,635 11,706,976	7,882,399 12,615,917	6,807,900 11,458,116	5,708,560 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	443,524 3,508,953
Disproportionate-share hospital (DSH) Median	456,987 594,888	451,861 595,761	385,228 577,894	433,759 542,168	457,221 549,667
Outlier Median	1,628,854 582,572	738,152 538,116	103,444 212,434	51,552 126,559	107,356 139,139

Uncompensated care

Item	2017	2018	2019	2020	2021
Medicaid shortfall Median	0 3,662,910	0 3,730,911	0 4,081,319	0 4,643,908	0 4,389,147
Charity care Median	27,739 2,654,636	403,614 2,940,659	399,867 3,380,215	325,798 3,488,738	173,102 3,233,405
Uncompensated care (UCC) Median	1,597,524 5,147,790	1,874,628 5,337,617	4,899,470 5,711,082	3,186,261 5,923,418	1,204,999 5,508,107
UCC as a % of operating expenses Median	1.31% 3.24	1.53% 3.12	3.86% 3.21	2.50% 3.3	0.95% 2.86
Total shortfall/UCC Median	1,597,524 9,489,989	1,874,628 9,424,297	4,899,470 10,120,158	3,186,261 11,171,337	1,204,999 10,133,851

Labor costs

	2017	2018	2019	2020	2021
Total salaries Median	46,585,657 52,142,039	44,566,186 54,485,252	46,351,863 57,395,589	45,762,563 58,830,919	46,053,396 61,722,907
Salaries as a % of operating expenses Median	38.08 36.68	36.35 36.56	36.55 36.37	35.89 35.93	36.12 35.24
Intern, resident salaries* Median	0 2,598,592	0 2,686,824	0 2,753,773	0 2,937,156	630,633 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	591,043 1,449,244	482,084 1,475,986	648,499 1,563,078	674,138 1,721,954	1,179,734 2,991,828
Contract hours, direct-care Median	10,884.00 22,725	9,765.00 23,018.5	10,480.00 24,503.48	9,159.00 25,026.5	11,731.00 33,786
Contract wages, direct-care Median	54.30 64.67	49.37 64.53	61.88 65.06	73.60 68.97	100.57 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.