2021 - Financial Statement - Mercy Health Services • Annual Report 2022

2021 Financial STatement

July 1, 2020 to June 30, 2021 (in thousands)

This financial statement reflects the operating results for Mercy Medical Center, Stella Maris, St. Paul Place Specialists, Maryland Family Care, and the Mercy Health Foundation.

Our Income

Mercy Medical Center generated revenue from 49,554 patient days of service provided to 19,226 patients. Stella Maris generated revenue from 112,257 patient days of service to 1,290 patients

$297,331

Revenue generated by supporting service and care in Ambulatory Services, the Emergency Department, and Home Health

359,707

Collective revenue generated by services listed above

657,308

Collective revenue generated by Business Health Services and physician groups (net of contractual allowances)

$224,310

Variances

Hospital contractual adjustments paid to third-party payers

$(35,630)

Underwriting for services provided to patients unable to pay

(29,004)

Net revenue for patient services

816,714

Other operational revenue

45,127

Total operational revenue

$861,841

Our Expenses

Salaries, wages, and employee benefits

$454,367

Supplies, purchased services, and general expenses

310,436

Depreciation

42,568

Interest expense

14,470

Total operating expenses

$821,841

Our results

Net revenue from operations

$40,000

Return on investments

63,170

Joint venture income

613

Donor funding for capital projects

3,729

Capital financing activities

9,023

Retiree health plan obligation

1,225

Other

14,807

Net Results

$132,567

Because of the generosity of our benefactors and the careful stewardship of the financial and human resources put forth in service to the mission of the Sisters of Mercy, the net results of $132,567,000 for the year ending June 30, 2021, will enable Mercy Medical Center and Stella Maris to invest in new facilities, programs, and technologies to better serve the Baltimore community.