Financials

MidState Medical Center ended the year with a solid operating surplus of $19.3 million (or 8.8% of net revenue). MidState’s inpatient volumes increased 3.1% over the previous year, while outpatient volumes increased 11.0% over the previous year. Additionally, visits to the Emergency Department decreased by 2.0% this year.

Fiscal year 2014 marks 15 years of consistent operating surpluses for the hospital. This is quite an achievement in this industry with declining reimbursement. Operating surpluses allow MidState to reinvest in new facilities and new technology for our communities.

Statement of Revenue and Expense

2014 Unaudited 2013
Revenues
Patient Revenue Services
Inpatient $226,391,995 $219,546,008
Outpatient $317,037,529 $285,501,650
Total Patient Service Revenues $543,429,524 $505,047,658

Less Deductions from Revenue:
Government and Private Payer Contractual Allowances $296,004,863 $269,774,966
Charity Care and Other Uncompensated Care $8,888,526 $9,396,534
Other Allowances and Revenue Deductions $19,403,949 $8,129,954
Total Deductions from Revenue $324,297,338 $287,301,454

Collectible Patient Service Revenue $219,132,186 $217,746,204

Add Other Operating Revenue:
Improvement in investment in Captive Insurance Company $0 $0
Grants, Cafeteria, Rental and Other Revenue $8,274,793 $9,116,321

Total Operating Revenue $227,406,979 $226,862,525

Expenses
Salaries and Wages $69,345,794 $75,257,780
Benefits for Employees $19,652,817 $22,649,817
Medical Supplies, Drugs and Other Expenses $99,419,679 $93,165,000
Malpractice Insurance Premiums $2,753,277 $2,356,019
Depreciation Cost of Building and Equipment $12,906,996 $13,104,256
Interest on Borrowed Money $3,992,280 $3,987,276
Total Expenses $208,070,843 $210,520,148

Operating Income $19,336,136 $16,342,377

Loss on Early Extinguishment of Debt $0 $0

Non-Operating Income
From Gifts, Interest and Other Sources $3,147,295 $5,523,650
Change in Market Value of Investments $0 ($1,295,573)

Excess Revenue Over Expense $22,483,431 $20,570,454

Note: These amounts do not include the activity of subsidiaries

 


 

Patient Statistics

2014  2013
Inpatient Admissions (Including Newborn) 9,284 9,847
Inpatient Days (Including Newborn) 39,492 41,898
Average Length of Stay 4.25 4.12
Total Surgical Procedures 8,359 8,322
Births 929 906
Emergency Department Visits (Including Admits) 58,613 59,791
Walk-in Medical Visits (MediQuick) 31,757 33,972

 


 

Hospital Expensesexpenses