| Winchester | Lewis-Gale | |
| Medical Center | Medical Center | |
| Winchester, VA | Salem, VA | |
| 2008 | 2008 | |
| Licensed beds: | 411 | 521 |
| Staffed Beds: | 411 | 216 |
| Licensed NISU bassinets: | 24 | 0 |
| Staffed NISU bassinets: | 24 | 0 |
| Staffed normal newborn bassinets: | 12 | 5 |
| Patient Days: | 110,475 | 75,525 |
| Admissions: | 25,040 | 14,548 |
| Full-Time Equivalents - Payroll: | 2,293 | 1,281 |
| Full-Time Equivalents - Contract: | 127 | 75 |
| Gross Inpatient Revenue: | 432,444,823 | 417,369,963 |
| Gross Outpatient Revenue: | 306,941,444 | 312,411,315 |
| Gross Patient Revenue: | 739,386,267 | 729,781,278 |
| Contractual Allowance: | 274,805,640 | 486,372,120 |
| Charity Care: | 32,784,775 | 8,324,335 |
| Indigent Care Trust: | -150,000 | 73,484 |
| Net Patient Revenue: | 431,795,852 | 235,084,823 |
| Other Operating Revenue: | 12,202,410 | 2,626,320 |
| Current Assets: | 163,881,986 | 37,181,175 |
| Net Fixed Assets: | 310,687,613 | 108,487,069 |
| Other Assets: | 193,139,219 | 101,488,072 |
| Total Assets: | 667,708,818 | 247,156,316 |
| Current Liabilities: | 40,451,147 | 23,642,463 |
| Long Term Liabilities: | 264,403,642 | 38,394,875 |
| Total Liabilities: | 304,944,789 | 62,037,338 |
| Fund Balance: | 362,764,029 | 185,118,978 |
| Labor Expense: | 180,957,635 | 87,265,649 |
| Non-Labor Expense: | 155,439,049 | 93,801,134 |
| Capital Expense: | 42,785,264 | 22,936,839 |
| Taxes: | $59,183 | $10,963,392 |
| Bad-Debt Expense: | 21,253,614 | 13,761,420 |
| Total Operating Expense: | 400,494,746 | 228,728,434 |
| Operating Income: | 43,503,516 | 8,982,709 |
| Net Non-Operating gains: | -34,002,605 | 68,841 |
| Revenue & Gains | ||
| in excess of expenses (profits): | $9,500,910 | $9,051,550 |
| Tax Status: | Not-For-Profit | For-Profit |
Also, review the 2007 comparison ...
5 comments:
Amazing information, thank you for sharing, as I just did not know that much information about Valley Health.
Makes me wonder, about that quote,
"Paper lay still, they can write anything on it"
The perception is there is a lot of truth to that quote!
Did the owner of this blog previously work for Valley Health in the past? How does this person(s) know so much about Valley Health's financials?
Don't know how you know what they know, but please keep it coming, I have personally never seen such information and I am just about falling out of my chair after reading this morning.
I have not read as much detail in either the NVD and Winchester Star? Why is that?
That Net Non-Operating gains of (-34,002,605), wonder if that is a result of the cost for the New Wellness & Fitness Center and other physical building expansions that took place in 2008?
Could you do another comparison for 2012? I think the addition of VPE might make the numbers even more dramatic. Thanks for sharing this.
For 2011, here are a couple of hi-lights of the comparison:
Lewis-Gale paid $24,711,736 in taxes while WMC paid just $70,253.
Lewis-Gale recorded a profit of $29.3 million vs. WMC's $62 million.
For Fiscal Year 1/1/2011 - 12/31/2011 data ... reference the following links:
Lewis-Gale Med'l Center:
http://vhi.org/Financial%C2%A0LewisGale%20Medical%20Center.html?fr=fin&?=h6544/
WMC:
http://vhi.org/Financial%C2%A0Valley%20Health%20Winchester%20Medical%20Center.html?fr=fin&?=h1934/
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