Financial Statements
Complete Financial Statements (.pdf)
Financial Highlights
Statement of Activities
Balance Sheet
Cash Position
Endowment Assets and Similar Funds
Debt and Credit Ratings
Sponsored Research and Gifts
Strong Memorial Hospital
Financial Statement Highlights
Strong Memorial Hospital Highlights
| ($ in thousands) | 2003 Actual | 2004 Actual |
| Total Operating Revenues | $646,536 | $693,820 |
| Total Operating Expenses | $618,362 | $666,068 |
| Income from Operations | $28,174 | $27,752 |
| Operating Margin | 4.4% | 4.0% |
| Nonoperating Revenue | $2,674 | $2,655 |
| Total Margin | $30,848 | $30,407 |
| Total Margin | 4.8% | 4.4% |
- Strong Memorial Hospital continues to report favorable operating results, with an operating margin of 4.0% in 2004, compared to 4.4% in fiscal 2003.
- Operating revenues increased by 7.3% due primarily to patient volume increases and modest payment rate increases from third-party payers.
- Operating expenses increased by 7.7% related to volume growth noted above, inflationary trends in medical supplies and pharmaceuticals, a significant increase post-employment benefit costs (primarily workers compensation), higher professional liability insurance and temporary nursing costs, and a higher level of bad debt expense.
