Thursday, December 31, 2009

2008 Side-by-Side Comparison Winchester Med'l Center / Lewis-Gale Med'l Center


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 ...

Sunday, November 8, 2009


2007 Winchester Medical Center / Lewis-Gale Medical Center side-by-side comparison

To give the citizenry a better understanding of the differences between a "not-for-profit" and "for-profit" hospital, THE PIBBSTER's PUB wants to share with all a side-by-side comparison between Winchester Medical Center and Lewis-Gale Medical Center.

5 comments:

Anonymous said...

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!

Anonymous said...

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?

Anonymous said...

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?

Anonymous said...

Could you do another comparison for 2012? I think the addition of VPE might make the numbers even more dramatic. Thanks for sharing this.

THE PIBBSTER said...

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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