Financials
The Hospital of Central Connecticut Financials
Statement of Operations
| Year to Date September 2018 | Year to Date September 2017 | |
|---|---|---|
| Gross Patient Service Revenue | ||
| Inpatient | 419,486,944 | 386,699,263 |
| Outpatient | 489,581,836 | 508,430,498 |
| Professional Service Revenue | 61,230,144 | 35,149,496 |
| 970,298,924 | 930,279,257 |
| Contractual Allowances | 597,650,475 | 577,125,061 |
| Bad Debts | 7,640,233 | 5,497,582 |
| Charity Care | 11,040,705 | 11,280,831 |
| 616,331,413 | 593,903,474 |
| Net Revenues from Services to Patients | 353,967,511 | 336,375,783 |
| Other Operating Revenue | 21,091,354 | 27,067,046 |
| Net Assets Released from Restriction | 2,005,422 | 2,878,404 |
| Total Revenues | 377,064,287 | 366,321,233 |
| Operating Expenses | ||
| Salaries and Fringe | 171,414,165 | 176,433,572 |
| Supplies and Others | 49,567,844 | 46,459,854 |
| Purchased Services | 123,358,530 | 114,948,961 |
| Depreciation and Amortization | 18,619,811 | 19,764,923 |
| Rental Expense | 2,930,682 | 3,846,621 |
| Interest Expense | 3,163,274 | 2,582,940 |
| 369,054,306 | 364,036,871 |
| Operating Income (Loss) | 8,009,983 | 2,284,362 |
| Other Income | ||
| Income from Investments, Gifts, and Bequests, Net | 11,736,238 | 20,921,561 |
| Other | (217,933) | 271 |
| 11,518,305 | 20,921,832 | |
| Excess of revenues over expenses, before non-controlling interest in joint venture | 19,528,288 | 23,206,194 |
| Less: net income attributable to non-controlling interest in joint venture | 344 | 333,809 |
| Excess (Deficiency) of Revenues Over Expenses | 19,528,632 | 23,540,003 |
| Operating Margin (%) | 2.12% | 0.62% |
MidState Medical Center Financials
Statement of Operations
| Year to Date September 2018 | Year to Date September 2017 | |
|---|---|---|
| Gross Patient Service Revenue | ||
| Inpatient | 269,338,525 | 210,648,967 |
| Outpatient | 362,150,341 | 325,603,269 |
| Professional Service Revenue | 19,548,850 | 18,126,364 |
| 651,037,716 | 554,378,600 |
| Contractual Allowances | 390,255,497 | 333,243,206 |
| Bad Debts | 3,889,362 | 4,784,998 |
| Charity Care | 8,869,313 | 8,137,631 |
| 403,014,172 | 346,165,835 |
| Net Revenues from Services to Patients | 248,023,544 | 208,212,765 |
| Other Operating Revenue | 21,598,556 | 14,408,054 |
| Net Assets Released from Restriction | 1,329,226 | 114,280 |
| Total Revenues | 270,951,326 | 222,735,099 |
| Operating Expenses | ||
| Salaries and Fringe | 87,042,455 | 81,895,791 |
| Supplies and Others | 55,808,013 | 43,978,435 |
| Purchased Services | 97,789,192 | 75,209,247 |
| Depreciation and Amortization | 11,217,819 | 10,395,046 |
| Rental Expense | 4,616,008 | 3,986,263 |
| Interest Expense | 3,741,274 | 3,900,374 |
| 260,214,761 | 219,365,156 |
| Operating Income (Loss) | 10,736,565 | 3,369,943 |
| Other Income | ||
| Income from Investments, Gifts, and Bequests, Net | 8,521,387 | 16,591,804 |
| Other | 0 | 65,913 |
| 8,521,387 | 16,657,717 | |
| Excess of revenues over expenses, before non-controlling interest in joint venture | 19,257,952 | 20,027,660 |
| Less: net income attributable to non-controlling interest in joint venture | (71,554) | (55,357) |
| Excess (Deficiency) of Revenues Over Expenses | 19,186,398 | 19,972,303 |
| Operating Margin (%) | 3.96% | 1.51% |
A change in accounting was implemented beginning with FY18 to include the annual investment to Hartford HealthCare Medical Group (HHCMG) for each Hartford HealthCare business entity. For FY18, this amount represents $9,771,821 for The Hospital of Central Connecticut and $10,402,858 for MidState Medical Center. This amount is included in purchased services. FY17 performance does not include the annual investment for HHCMG.