As of the July, 2022, release via CMS

SWEDISH MEDICAL CENTER CHERRY HILL

CMS id: 500025
500 - 17TH AVENUE, SEATTLE WA 98122. County: KING
System: PROVIDENCE HEALTH & SERVICES
CBSA: Seattle-Tacoma-Bellevue, WA

The 211-bed, acute-care hospital had $-51,781,214 in net service to patients*, with a total profit margin of -9.51951% in fiscal year 2021, the latest year available.
It spent 1.17% of its operating expenses on uncompensated care and reported $9,306,137 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	125 118	125 118	125 119.5	125 118	125 119
Total beds Median	210 162	211 162	210 162	211 162	211 163.5
FTEs Median	1,380.29 788.06	1,382.30 793.42	1,365.31 806.03	1,317.54 787.61	1,287.92 804.34

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	450,992,770 150,932,746	464,640,309 158,950,878	494,315,661 168,696,998	417,182,801 163,454,693	460,175,182 186,589,412
Operating expenses Median	487,619,234 149,311,209	509,804,300 156,110,414	489,202,025 164,890,568	502,301,119 166,516,854	511,956,396 180,120,888
Net income from service 2 patients (NS2P) ? Median	-36,626,464 -964,173	-45,163,991 -643,601.5	5,113,636 -116,254	-85,118,318 -5,025,862	-51,781,214 -1,284,564
NS2P margin ? Median	-8.12% -0.62	-9.72% -0.29	1.03% 0.18	-20.40% -5.07	-11.25% -0.88

Range* of Net Service to Patient (NS2P) margins

= NS2P margin for SWEDISH MEDICAL CENTER CHERRY HILL 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	10,086,184 5,089,215	8,894,048 4,572,541	7,907,457 5,268,134	46,353,923 13,092,619	7,281,599 12,369,236
⊳ Line 6: Contributions ? ⊳ Median	233,754 224,999	559,390 199,009	686,854 206,870.5	910,085 194,343	1,485,146 249,496
⊳ Line 7: Investments ? ⊳ Median	166,592 299,524	0 188,688.5	0 370,813	0 309,361.5	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	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	582,411	578,541	651,432	145,489	160,208
⊳ 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.)	872,687	15,220	464,759	455,296	75,928
⊳ 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	677,677	541,286	91,316	69,611	8,820
⊳ 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	7,553,063	7,199,611	6,013,096	44,773,442	5,551,497
Total income ? Median	-26,540,280 6,586,430	-36,269,943 6,767,106	13,021,093 8,419,950	-38,764,395 8,094,175	-44,499,615 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	-26,540,280 6,043,842	-36,269,943 5,845,112	13,021,093 7,606,259	-38,764,395 7,283,041	-44,499,615 14,957,241
Net margin Median	-5.75612% 4.62%	-7.65941% 4.42%	2.59269% 5.16%	-8.36275% 5.2%	-9.51951% 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 SWEDISH MEDICAL CENTER CHERRY HILL 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	79,158,654 23,241,334	79,979,102 23,709,545	83,975,137 24,248,380	71,568,880 22,858,541	82,901,528 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	73,740,090 21,577,146	74,591,877 22,041,594	79,570,190 22,722,063	67,660,246 21,570,441	78,779,536 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	5,418,564 3,535,627	5,387,225 3,746,588	4,404,947 3,782,288	3,908,634 3,865,578	4,121,992 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	29,070,754 11,160,864	29,087,520 11,987,345	29,708,834 12,926,866	23,918,823 11,884,480	26,864,113 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	29,070,754 10,918,923	29,087,520 11,706,976	29,708,834 12,615,917	23,918,823 11,458,116	26,864,113 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	6,526,580 3,284,314	6,826,294 3,250,551	7,579,821 3,386,837	7,258,153 3,360,806	9,062,234 3,508,953
Disproportionate-share hospital (DSH) Median	1,251,387 594,888	1,124,567 595,761	1,020,527 577,894	906,257 542,168	1,135,074 549,667
Outlier Median	8,422,191 582,572	7,745,116 538,116	1,351,706 212,434	1,170,129 126,559	1,916,808 139,139

Uncompensated care

Item	2017	2018	2019	2020	2021
Medicaid shortfall Median	6,868,479 3,662,910	5,628,610 3,730,911	7,041,071 4,081,319	15,553,054 4,643,908	9,306,137 4,389,147
Charity care Median	6,996,723 2,654,636	8,967,804 2,940,659	3,871,160 3,380,215	5,201,477 3,488,738	3,965,863 3,233,405
Uncompensated care (UCC) Median	7,998,197 5,147,790	10,404,109 5,337,617	5,791,896 5,711,082	7,008,945 5,923,418	6,012,648 5,508,107
UCC as a % of operating expenses Median	1.64% 3.24	2.04% 3.12	1.18% 3.21	1.40% 3.3	1.17% 2.86
Total shortfall/UCC Median	14,866,676 9,489,989	16,032,719 9,424,297	12,832,967 10,120,158	22,561,999 11,171,337	15,318,785 10,133,851

Labor costs

	2017	2018	2019	2020	2021
Total salaries Median	120,722,790 52,142,039	124,232,583 54,485,252	125,631,702 57,395,589	126,684,652 58,830,919	129,004,639 61,722,907
Salaries as a % of operating expenses Median	35.89 36.68	35.18 36.56	34.56 36.37	34.92 35.93	35.54 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	7,999 1,186,494	54,430 1,204,885	15,495 1,279,653	327,735 1,469,317
Contract adjusted salaries, direct-care Median	5,824,721 1,449,244	4,961,888 1,475,986	10,179,053 1,563,078	12,938,581 1,721,954	19,842,500 2,991,828
Contract hours, direct-care Median	79,300.00 22,725	75,895.00 23,018.5	121,803.00 24,503.48	144,036.00 25,026.5	198,119.00 33,786
Contract wages, direct-care Median	73.45 64.67	65.38 64.53	83.57 65.06	89.83 68.97	100.15 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.