Velarion Records

Short-term acute care hospital · Staples, Minnesota · 40 beds · CMS certification number 240144

Lakewood Health System

Its Medicare cost reports, read cell by cell. Latest filing: fiscal year ended March 11, 2002, reopened, stamped by CMS January 20, 2006. Seven years on file, every one shown below.

Fiscal 2002 at a glance

Net patient revenue
$4.3M
$4,301,270 · G-3 line 3
Operating expenses
$4.6M
$4,586,526 · G-3 line 4
Result from patient care
−$285K
−$285,256 · G-3 line 5
Margin on patient care
−6.6%
line 5 ÷ line 3, same filing

What stands out

  • Net patient revenue fell from $11.1M in its first year on file (1996) to $4.3M in 2002.
  • Its result from patient care: −$1.0M (2000), −$507K (2001), −$285K (2002).
  • 2 of the 5 short-term acute care hospital peers below with a margin on file also report a loss on patient care for fiscal year 2002.

Every statement is drawn from figures on this page; nothing is estimated.

Seven years of filings

Net patient revenue against operating expenses, each year as filed.

Net patient revenueOperating expenses
1996
reopened
$11.1M
$10.9M
1997
reopened
$11.4M
$11.7M
1998
settled
$16.2M
$16.8M
1999
settled
$17.2M
$17.9M
2000
settled
$19.6M
$20.6M
2001
settled
$22.2M
$22.7M
2002
reopened
$4.3M
$4.6M

Beside its peers

Short-term acute care hospitals in Minnesota with 25 to 49 beds, each on fiscal year 2002.

HospitalBedsNet patient revenueOperating expensesMargin
Lakewood Health System40$4,301,270$4,586,526−6.6%
Clearwater County Memorial Hospital, Bagley40$11,521,791$12,504,967−8.5%
Fairview Northland Hospital, Pronceton41$54,988,637$61,792,334−12.4%
Kanabec Hospital, Mora40$20,073,988$19,803,7951.4%
St. Joseph S Area Health Services, Park Rapids41$21,901,956$21,425,0242.2%
Tri-County Hospital, Wadena41$20,977,186$20,439,2942.6%

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Figures: CMS Healthcare Cost Report Information System, file HOSPFY2002.ZIP, form CMS-2552-96, filed under CMS certification number 240144.

How this page was built: the CMS Medicare cost report, file HOSPFY2002.ZIP, read January 20, 2006.