As of the July, 2022, release via CMS

SWEDISH MEDICAL CENTER

CMS id: 500027
747 BROADWAY, SEATTLE WA 98122. County: KING
System: SWEDISH HEALTH SERVICES
CBSA: Seattle-Tacoma-Bellevue, WA

The 649-bed, acute-care hospital had $-194,585,231 in net service to patients*, with a total profit margin of -4.78418% in fiscal year 2021, the latest year available.
It spent 1.12% of its operating expenses on uncompensated care and reported $54,545,196 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	541 118	512 118	508 119.5	542 118	496 119
Total beds Median	701 162	668 162	661 162	695 162	649 163.5
FTEs Median	4,357.36 788.06	4,408.75 793.42	4,146.25 806.03	3,944.40 787.61	3,876.40 804.34

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	1,325,464,203 150,932,746	1,351,470,588 158,950,878	1,364,744,237 168,696,998	1,213,904,721 163,454,693	1,322,732,358 186,589,412
Operating expenses Median	1,404,572,278 149,311,209	1,483,327,866 156,110,414	1,434,210,157 164,890,568	1,447,453,271 166,516,854	1,517,317,589 180,120,888
Net income from service 2 patients (NS2P) ? Median	-79,108,075 -964,173	-131,857,278 -643,601.5	-69,465,920 -116,254	-233,548,550 -5,025,862	-194,585,231 -1,284,564
NS2P margin ? Median	-5.97% -0.62	-9.76% -0.29	-5.09% 0.18	-19.24% -5.07	-14.71% -0.88

Range* of Net Service to Patient (NS2P) margins

= NS2P margin for SWEDISH 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	98,791,866 5,089,215	87,507,153 4,572,541	107,629,613 5,268,134	213,153,333 13,092,619	125,308,291 12,369,236
⊳ Line 6: Contributions ? ⊳ Median	15,853,878 224,999	18,583,362 199,009	20,318,036 206,870.5	21,111,957 194,343	21,712,556 249,496
⊳ Line 7: Investments ? ⊳ Median	5,979,733 299,524	-4,243,082 188,688.5	8,871,749 370,813	6,549,842 309,361.5	13,800,872 375,329
⊳ 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	835,912	845,004	991,302	573,585	492,652
⊳ 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.)	849,242	1,270,772	1,234,297	971,654	732,994
⊳ 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	3,470,162	3,139,941	3,033,571	3,167,171	3,237,674
⊳ 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	71,802,939	67,911,156	73,180,658	180,779,124	85,331,543
Total income ? Median	19,683,791 6,586,430	-44,350,125 6,767,106	38,163,693 8,419,950	-20,395,217 8,094,175	-69,276,940 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	19,683,791 6,043,842	-44,350,125 5,845,112	38,163,693 7,606,259	-20,395,217 7,283,041	-69,276,940 14,957,241
Net margin Median	1.38204% 4.62%	-3.08206% 4.42%	2.59198% 5.16%	-1.42918% 5.2%	-4.78418% 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 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	131,592,214 23,241,334	126,723,586 23,709,545	119,594,719 24,248,380	93,337,876 22,858,541	88,642,115 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	129,999,400 21,577,146	124,198,387 22,041,594	117,644,005 22,722,063	91,909,712 21,570,441	87,143,160 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	1,592,814 1,845,420	2,525,199 1,757,392	1,950,714 1,738,842	1,428,164 1,510,463	1,498,955 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	73,701,671 11,160,864	76,152,082 11,987,345	78,195,137 12,926,866	75,990,389 11,884,480	89,464,291 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	73,701,671 10,918,923	76,152,082 11,706,976	78,195,137 12,615,917	75,990,389 11,458,116	89,464,291 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	9,229,254 3,284,314	9,307,364 3,250,551	9,176,087 3,386,837	7,587,440 3,360,806	7,107,224 3,508,953
Disproportionate-share hospital (DSH) Median	4,696,023 594,888	4,323,608 595,761	3,904,167 577,894	2,928,990 542,168	3,184,778 549,667
Outlier Median	11,720,858 582,572	8,593,467 538,116	2,309,966 212,434	2,256,238 126,559	2,898,152 139,139

Uncompensated care

Item	2017	2018	2019	2020	2021
Medicaid shortfall Median	35,400,741 3,662,910	37,936,145 3,730,911	39,832,873 4,081,319	61,265,887 4,643,908	54,545,196 4,389,147
Charity care Median	17,371,227 2,654,636	15,539,720 2,940,659	15,782,140 3,380,215	16,690,147 3,488,738	10,840,907 3,233,405
Uncompensated care (UCC) Median	23,606,859 5,147,790	21,970,896 5,337,617	24,190,080 5,711,082	23,387,296 5,923,418	17,037,757 5,508,107
UCC as a % of operating expenses Median	1.68% 3.24	1.48% 3.12	1.69% 3.21	1.62% 3.3	1.12% 2.86
Total shortfall/UCC Median	59,007,600 9,489,989	59,907,041 9,424,297	64,022,953 10,120,158	84,653,183 11,171,337	71,582,953 10,133,851

Labor costs

	2017	2018	2019	2020	2021
Total salaries Median	409,509,062 52,142,039	421,655,987 54,485,252	405,376,974 57,395,589	401,897,749 58,830,919	413,949,432 61,722,907
Salaries as a % of operating expenses Median	41.54 36.68	40.09 36.56	38.75 36.37	38.36 35.93	38.68 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	528,255 1,251,927	0 1,186,494	1,074,951 1,204,885	817,584 1,279,653	554,147 1,469,317
Contract adjusted salaries, direct-care Median	13,423,741 1,449,244	14,214,107 1,475,986	24,917,407 1,563,078	9,719,190 1,721,954	31,388,303 2,991,828
Contract hours, direct-care Median	233,438.00 22,725	221,519.00 23,018.5	393,936.00 24,503.48	122,963.00 25,026.5	321,772.00 33,786
Contract wages, direct-care Median	57.50 64.67	64.17 64.53	63.25 65.06	79.04 68.97	97.55 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.