SPECTRUM HEALTH — financial and operating metrics

CCN 230038, GRAND RAPIDS, MI · Medicare cost reports, FY2020–FY2025

Unverified figures. Metrics marked unverified are derived from cost-report coordinates that have not yet been reconciled against audited financial statements. We show you which, rather than hiding it.

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MetricFY2020FY2021FY2022FY2023FY2024FY2025
Total facility beds availableunverified1,0991,1061,1031,1141,1171,139
Total bed days availableunverified402,110403,614402,371406,462408,627415,842
Total facility dischargesunverified59,77361,68160,21954,98158,59760,175
Total facility inpatient daysunverified293,023323,378319,624314,484327,411337,446
Total patient revenue (gross charges)unverified$5,197,583,162$5,916,431,278$6,065,497,287$6,489,706,125$7,243,171,417$7,897,308,398
Contractual allowances and discountsunverified$2,868,557,224$3,383,545,545$3,491,720,634$3,738,675,356$4,084,082,147$4,465,464,993
Net patient revenueunverified$2,329,025,938$2,532,885,733$2,573,776,653$2,751,030,769$3,159,089,270$3,431,843,405
Total operating expensesunverified$2,336,439,568$2,397,548,637$2,572,592,803$2,705,601,128$2,699,880,138$2,988,709,290
Net income from service to patientsunverified$-7,413,630$135,337,096$1,183,850$45,429,641$459,209,132$443,134,115
Net incomeunverified$132,614,913$230,861,241$83,498,176$118,443,316$525,404,159$536,256,174
Cost of uncompensated careunverified$29,404,451$23,641,327$28,676,205$28,389,682$38,178,436$43,335,913
Total facility bad debt expenseunverified$60,379,513$48,030,160$66,774,393$67,650,981$77,356,699$89,123,737
Charity care charges and uninsured discountsunverified$27,804,878$27,732,480$23,029,902$27,295,746$50,410,350$50,008,554
Cost of charity careunverified$10,271,517$9,613,738$8,258,561$8,636,947$15,734,413$16,591,685
Charges for insured patients' liabilityunverified$193,739$225,535$178,514
Operating marginunverified-0.3%5.3%0.0%1.7%14.5%12.9%
Overall cost-to-charge ratiounverified45.0%40.5%42.4%41.7%37.3%37.8%
Occupancy rateunverified72.9%80.1%79.4%77.4%80.1%81.1%
Average length of stayunverified4.95.25.35.75.65.6
Uncompensated care as % of operating expenseunverified1.3%1.0%1.1%1.0%1.4%1.4%
Charity care cost-to-charge ratiounverified36.9%34.7%35.9%31.6%31.2%33.2%
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