As of the July, 2022, release via CMS

MCLEOD LORIS SEACOAST HOSPITAL

CMS id: 420105
3655 MITCHELL STREET, LORIS SC 29569. County: HORRY
System: MCLEOD HEALTH
CBSA: Myrtle Beach-Conway-North Myrtle Beach, SC-NC

The 155-bed, acute-care hospital had $28,158,724 in net service to patients*, with a total profit margin of 15.31683% in fiscal year 2021, the latest year available.
It spent 6.10% 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	139 118	139 118	139 119.5	139 118	129 119
Total beds Median	155 162	155 162	155 162	165 162	155 163.5
FTEs Median	713.45 788.06	714.39 793.42	752.88 806.03	845.23 787.61	955.90 804.34

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	113,890,772 150,932,746	134,851,442 158,950,878	158,882,313 168,696,998	175,775,091 163,454,693	245,007,936 186,589,412
Operating expenses Median	124,601,861 149,311,209	130,311,107 156,110,414	145,641,616 164,890,568	166,911,375 166,516,854	216,849,212 180,120,888
Net income from service 2 patients (NS2P) ? Median	-10,711,089 -964,173	4,540,335 -643,601.5	13,240,697 -116,254	8,863,716 -5,025,862	28,158,724 -1,284,564
NS2P margin ? Median	-9.40% -0.62	3.37% -0.29	8.33% 0.18	5.04% -5.07	11.49% -0.88

Range* of Net Service to Patient (NS2P) margins

= NS2P margin for MCLEOD LORIS SEACOAST 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	3,246,041 5,089,215	-7,246,006 4,572,541	3,737,967 5,268,134	8,525,300 13,092,619	11,063,271 12,369,236
⊳ Line 6: Contributions ? ⊳ Median	100,942 224,999	149,895 199,009	8,401 206,870.5	8,401 194,343	1,318,288 249,496
⊳ Line 7: Investments ? ⊳ Median	20,346 299,524	-10,228,999 188,688.5	2,959 370,813	15,434 309,361.5	14 375,329
⊳ Line 8: Revenue from telephone service	NULL	NULL	NULL	NULL	NULL
⊳ Line 9: Revenue from tv and radio	--	--	--	--	--
⊳ Line 10: Purchase discounts	8,445	6,249	1,309	706	884
⊳ 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	549,841	560,383	646,275	614,288	721,469
⊳ 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	1,266,881	1,498,767	1,871,510	2,468,923	3,123,679
⊳ Line 18: Revenue from sale of medical records and abstracts	4,359	4,490	4,775	5,181	1,442
⊳ Line 19: Tuition (fees, sale of textbooks, uniforms, etc.)	0	0	0	0	0
⊳ Line 20: Revenue from gifts, flowers, coffee shops, canteen	117,374	54,880	137,404	105,556	125,824
⊳ Line 21: Rental of vending machines	21,248	37,920	57,227	30,065	33,206
⊳ Line 22: Rental of hospital space	7,587	5,075	6,600	2,750	150
⊳ 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	1,149,018	665,334	1,001,507	5,273,996	5,738,315
Total income ? Median	-7,465,048 6,586,430	-2,705,671 6,767,106	16,978,664 8,419,950	17,389,016 8,094,175	39,221,995 15,162,888
Non-operating expenses Median	53,422 146,289.5	893 164,857	29,221 89,880.5	3 106,761	3 31,473.5
Net income Median	-7,518,470 6,043,842	-2,706,564 5,845,112	16,949,443 7,606,259	17,389,013 7,283,041	39,221,992 14,957,241
Net margin Median	-6.41854% 4.62%	-2.12104% 4.42%	10.42271% 5.16%	9.43515% 5.2%	15.31683% 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 MCLEOD LORIS SEACOAST 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	22,808,738 23,241,334	26,520,762 23,709,545	27,914,642 24,248,380	30,448,902 22,858,541	37,565,709 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	22,808,738 21,577,146	26,520,762 22,041,594	27,914,642 22,722,063	30,448,902 21,570,441	37,565,709 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	16,497,891 11,160,864	18,793,170 11,987,345	21,006,278 12,926,866	23,303,709 11,884,480	29,085,246 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	16,497,891 10,918,923	18,793,170 11,706,976	21,006,278 12,615,917	23,303,709 11,458,116	29,085,246 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	413,404 594,888	461,148 595,761	499,432 577,894	394,553 542,168	468,572 549,667
Outlier Median	480,430 582,572	484,323 538,116	104,212 212,434	70,828 126,559	83,422 139,139

Uncompensated care

Item	2017	2018	2019	2020	2021
Medicaid shortfall Median	4,362,743 3,662,910	0 3,730,911	0 4,081,319	0 4,643,908	0 4,389,147
Charity care Median	6,199,612 2,654,636	8,324,306 2,940,659	10,446,689 3,380,215	9,253,460 3,488,738	9,193,640 3,233,405
Uncompensated care (UCC) Median	13,297,952 5,147,790	12,310,561 5,337,617	14,209,131 5,711,082	13,211,320 5,923,418	13,235,577 5,508,107
UCC as a % of operating expenses Median	10.67% 3.24	9.45% 3.12	9.76% 3.21	7.92% 3.3	6.10% 2.86
Total shortfall/UCC Median	17,660,695 9,489,989	12,310,561 9,424,297	14,209,131 10,120,158	13,211,320 11,171,337	13,235,577 10,133,851

Labor costs

	2017	2018	2019	2020	2021
Total salaries Median	45,212,444 52,142,039	47,603,943 54,485,252	52,799,471 57,395,589	62,268,955 58,830,919	76,952,472 61,722,907
Salaries as a % of operating expenses Median	36.29 36.68	36.53 36.56	36.25 36.37	37.31 35.93	35.49 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	9,861 1,449,244	182,632 1,475,986	829 1,563,078	1,260,709 1,721,954	0 2,991,828
Contract hours, direct-care Median	138.00 22,725	10,583.00 23,018.5	10.25 24,503.48	19,225.00 25,026.5	0.00 33,786
Contract wages, direct-care Median	71.46 64.67	17.26 64.53	80.88 65.06	65.58 68.97	0.00 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.