As of the July, 2022, release via CMS

UNIVERSITY OF VERMONT MEDICAL CENTER

CMS id: 470003
111 COLCHESTER AVENUE, BURLINGTON VT 5401. County: CHITTENDEN
System: UNIVERSITY OF VERMONT HEALTH NETWORK
CBSA: Burlington-South Burlington, VT

The 482-bed, acute-care hospital had $-438,646,041 in net service to patients*, with a total profit margin of 4.40291% in fiscal year 2021, the latest year available.
It spent 0.87% of its operating expenses on uncompensated care and reported $91,300,571 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	349 118	349 118	356 119.5	416 118	392 119
Total beds Median	450 162	450 162	457 162	517 162	482 163.5
FTEs Median	6,391.57 788.06	6,647.28 793.42	6,869.22 806.03	6,982.84 787.61	7,117.66 804.34

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	1,125,718,000 150,932,746	1,135,548,541 158,950,878	1,141,749,949 168,696,998	1,033,438,298 163,454,693	1,133,577,959 186,589,412
Operating expenses Median	1,178,350,000 149,311,209	1,317,389,000 156,110,414	1,404,941,951 164,890,568	1,462,101,987 166,516,854	1,572,224,000 180,120,888
Net income from service 2 patients (NS2P) ? Median	-52,632,000 -964,173	-181,840,459 -643,601.5	-263,192,002 -116,254	-428,663,689 -5,025,862	-438,646,041 -1,284,564
NS2P margin ? Median	-4.68% -0.62	-16.01% -0.29	-23.05% 0.18	-41.48% -5.07	-38.70% -0.88

Range* of Net Service to Patient (NS2P) margins

= NS2P margin for UNIVERSITY OF VERMONT 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	181,998,000 5,089,215	250,756,459 4,572,541	321,277,187 5,268,134	464,160,701 13,092,619	511,057,843 12,369,236
⊳ Line 6: Contributions ? ⊳ Median	0 224,999	0 199,009	0 206,870.5	0 194,343	0 249,496
⊳ Line 7: Investments ? ⊳ Median	52,601,000 299,524	13,585,000 188,688.5	2,239,000 370,813	1,791,000 309,361.5	705,000 375,329
⊳ Line 8: Revenue from telephone service	NULL	NULL	NULL	NULL	NULL
⊳ Line 9: Revenue from tv and radio	--	--	--	--	--
⊳ Line 10: Purchase discounts	0	0	0	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	0	0	0	0	0
⊳ Line 14: Revenue from meals sold to emplyees and guests	0	0	0	0	0
⊳ 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	0	0	0	0	0
⊳ 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	0	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	129,397,000	237,171,459	319,038,187	462,369,701	510,352,843
Total income ? Median	129,366,000 6,586,430	68,916,000 6,767,106	58,085,185 8,419,950	35,497,012 8,094,175	72,411,802 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	129,366,000 6,043,842	68,916,000 5,845,112	58,085,185 7,606,259	35,497,012 7,283,041	72,411,802 14,957,241
Net margin Median	9.89251% 4.62%	4.97120% 4.42%	3.97021% 5.16%	2.37026% 5.2%	4.40291% 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 UNIVERSITY OF VERMONT 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	151,292,403 23,241,334	150,117,670 23,709,545	157,603,104 24,248,380	149,448,201 22,858,541	152,142,858 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	143,892,836 21,577,146	142,954,686 22,041,594	149,636,904 22,722,063	142,624,499 21,570,441	147,615,392 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	7,399,567 3,535,627	7,162,984 3,746,588	7,966,200 3,782,288	6,823,702 3,865,578	4,527,466 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	98,588,097 11,160,864	105,227,484 11,987,345	112,165,662 12,926,866	96,460,285 11,884,480	103,665,287 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	98,588,097 10,918,923	105,227,484 11,706,976	112,165,662 12,615,917	96,460,285 11,458,116	103,665,287 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	32,893,700 3,284,314	32,738,043 3,250,551	33,752,276 3,386,837	31,434,237 3,360,806	31,307,013 3,508,953
Disproportionate-share hospital (DSH) Median	3,480,590 594,888	3,297,491 595,761	3,128,316 577,894	3,304,874 542,168	3,027,047 549,667
Outlier Median	9,173,278 582,572	10,134,742 538,116	2,391,597 212,434	2,141,724 126,559	2,113,082 139,139

Uncompensated care

Item	2017	2018	2019	2020	2021
Medicaid shortfall Median	47,070,878 3,662,910	65,201,673 3,730,911	62,617,486 4,081,319	83,374,645 4,643,908	91,300,571 4,389,147
Charity care Median	6,581,691 2,654,636	6,912,167 2,940,659	8,152,975 3,380,215	6,296,832 3,488,738	5,349,850 3,233,405
Uncompensated care (UCC) Median	12,218,856 5,147,790	15,447,496 5,337,617	15,645,262 5,711,082	14,823,045 5,923,418	13,722,697 5,508,107
UCC as a % of operating expenses Median	1.04% 3.24	1.17% 3.12	1.11% 3.21	1.01% 3.3	0.87% 2.86
Total shortfall/UCC Median	59,289,734 9,489,989	80,649,169 9,424,297	78,262,748 10,120,158	98,197,690 11,171,337	105,023,268 10,133,851

Labor costs

	2017	2018	2019	2020	2021
Total salaries Median	556,797,199 52,142,039	584,983,010 54,485,252	612,942,200 57,395,589	648,399,834 58,830,919	686,644,161 61,722,907
Salaries as a % of operating expenses Median	46.11 36.68	47.71 36.56	44.75 36.37	44.53 35.93	45.85 35.24
Intern, resident salaries* Median	19,607,096 2,598,592	20,279,303 2,686,824	20,510,809 2,753,773	21,324,448 2,937,156	24,534,297 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	9,571,497 1,449,244	13,068,678 1,475,986	12,163,851 1,563,078	14,936,033 1,721,954	39,960,261 2,991,828
Contract hours, direct-care Median	141,443.00 22,725	189,453.00 23,018.5	176,526.00 24,503.48	194,281.00 25,026.5	424,711.00 33,786
Contract wages, direct-care Median	67.67 64.67	68.98 64.53	68.91 65.06	76.88 68.97	94.09 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.