As of the July, 2022, release via CMS

GEORGETOWN MEMORIAL HOSPITAL

CMS id: 420020
606 BLACK RIVER ROAD, GEORGETOWN SC 29442. County: GEORGETOWN
System: --
CBSA: Georgetown, SC

The 71-bed, acute-care hospital had $7,064,161 in net service to patients*, with a total profit margin of 17.57943% in fiscal year 2021, the latest year available.
It spent 4.75% 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	121 118	121 118	121 119.5	121 118	61 119
Total beds Median	131 162	131 162	131 162	131 162	71 163.5
FTEs Median	792.76 788.06	815.57 793.42	849.16 806.03	809.35 787.61	807.53 804.34

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	141,710,539 150,932,746	141,659,156 158,950,878	154,101,784 168,696,998	158,207,813 163,454,693	175,388,687 186,589,412
Operating expenses Median	132,158,917 149,311,209	139,489,752 156,110,414	150,146,973 164,890,568	159,989,490 166,516,854	168,324,526 180,120,888
Net income from service 2 patients (NS2P) ? Median	9,551,622 -964,173	2,169,404 -643,601.5	3,954,811 -116,254	-1,781,677 -5,025,862	7,064,161 -1,284,564
NS2P margin ? Median	6.74% -0.62	1.53% -0.29	2.57% 0.18	-1.13% -5.07	4.03% -0.88

Range* of Net Service to Patient (NS2P) margins

= NS2P margin for GEORGETOWN 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	-7,245,796 5,089,215	12,552,871 4,572,541	12,234,504 5,268,134	-391,313 13,092,619	28,837,670 12,369,236
⊳ Line 6: Contributions ? ⊳ Median	30,552 224,999	58,912 199,009	51,031 206,870.5	131,704 194,343	197,479 249,496
⊳ Line 7: Investments ? ⊳ Median	4,647,054 299,524	5,730,478 188,688.5	5,860,263 370,813	-12,083,506 309,361.5	16,820,454 375,329
⊳ Line 8: Revenue from telephone service	NULL	NULL	NULL	NULL	NULL
⊳ Line 9: Revenue from tv and radio	--	--	--	--	--
⊳ Line 10: Purchase discounts	14,606	62,389	31,677	20,829	45,926
⊳ 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	357,486	358,673	372,981	282,679	242,019
⊳ 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	1,556,277	1,388,872	1,231,578	0	1,249,248
⊳ Line 18: Revenue from sale of medical records and abstracts	2,117	4,865	11,556	1,146,909	8,231
⊳ Line 19: Tuition (fees, sale of textbooks, uniforms, etc.)	0	0	0	15,379	0
⊳ Line 20: Revenue from gifts, flowers, coffee shops, canteen	-11,657	6,469	-1,191	-533	-13,543
⊳ Line 21: Rental of vending machines	0	0	0	0	0
⊳ Line 22: Rental of hospital space	1,055,371	1,218,617	1,471,246	1,889,566	1,889,274
⊳ 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	-14,897,602	3,723,596	3,205,363	8,205,660	8,398,582
Total income ? Median	2,305,826 6,586,430	14,722,275 6,767,106	16,189,315 8,419,950	-2,172,990 8,094,175	35,901,831 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	2,305,826 6,043,842	14,722,275 5,845,112	16,189,315 7,606,259	-2,172,990 7,283,041	35,901,831 14,957,241
Net margin Median	1.71482% 4.62%	9.54677% 4.42%	9.73288% 5.16%	-1.37691% 5.2%	17.57943% 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 GEORGETOWN 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	14,404,418 23,241,334	14,745,063 23,709,545	14,638,822 24,248,380	15,313,306 22,858,541	15,632,599 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	14,404,418 21,577,146	14,745,063 22,041,594	14,638,822 22,722,063	15,313,306 21,570,441	15,632,599 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	28,364,986 11,160,864	30,386,008 11,987,345	31,768,642 12,926,866	31,581,338 11,884,480	31,074,565 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	28,364,986 10,918,923	30,386,008 11,706,976	31,768,642 12,615,917	31,581,338 11,458,116	31,074,565 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	34,759 3,386,837	75,633 3,360,806	55,593 3,508,953
Disproportionate-share hospital (DSH) Median	375,991 594,888	426,543 595,761	418,608 577,894	333,809 542,168	230,595 549,667
Outlier Median	185,554 582,572	57,468 538,116	81,417 212,434	54,259 126,559	40,748 139,139

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	6,749,299 2,654,636	6,236,991 2,940,659	5,295,795 3,380,215	4,734,042 3,488,738	3,845,551 3,233,405
Uncompensated care (UCC) Median	11,960,102 5,147,790	10,853,702 5,337,617	9,800,712 5,711,082	9,047,938 5,923,418	7,999,645 5,508,107
UCC as a % of operating expenses Median	9.05% 3.24	7.78% 3.12	6.53% 3.21	5.66% 3.3	4.75% 2.86
Total shortfall/UCC Median	11,960,102 9,489,989	10,853,702 9,424,297	9,800,712 10,120,158	9,047,938 11,171,337	7,999,645 10,133,851

Labor costs

	2017	2018	2019	2020	2021
Total salaries Median	52,451,426 52,142,039	55,586,080 54,485,252	57,252,975 57,395,589	59,686,080 58,830,919	62,382,578 61,722,907
Salaries as a % of operating expenses Median	39.69 36.68	39.85 36.56	38.13 36.37	37.31 35.93	37.06 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	1,028,038 1,449,244	485,190 1,475,986	798,790 1,563,078	1,607,379 1,721,954	4,689,729 2,991,828
Contract hours, direct-care Median	26,521.18 22,725	7,454.00 23,018.5	12,931.00 24,503.48	24,774.00 25,026.5	54,011.00 33,786
Contract wages, direct-care Median	38.76 64.67	65.09 64.53	61.77 65.06	64.88 68.97	86.83 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.