2011 Annual Report to the Community - Ridgeview Medical Center

Financial Information
Ridgeview Medical Center and Affiliates
Years Ended December 31, 2010 and 2011
Statement of Operations 2010 Audited 2011 Audited
Gross Patient Revenues $ 292,823,754 $ 329,566,511
Discounts from Medicare, Medicaid and Others (147,736,658) (171,454,262)
Net Patient Revenues 145,087,096 158,112,249
Other Revenues 3,147,300 4,101,735
Total Operating Revenues $ 148,234,396 $ 162,213,984
Salaries and Employee Benefits $ 83,152,080 $ 93,487,694
Medical Supplies and Drugs 15,147,799 15,643,196
Supplies, Professional Fees and Other Expenses 30,347,662 41,352,143
Depreciation and Amortization 9,701,611 10,379,991
Interest Expense 2,530,069 2,535,311
Allowance for Bad Debts 4,116,256 3,691,640
Total Operating Expenses $ 144,995,477 $ 167,089,975
Income from Operations $ 3,238,919 $ (4,875,991)
Non-Operating Income 603,961 2,392,466
Net Income for Reinvestment into Programs $ 3,842,880 $ (2,483,525)
and Services
Balance Sheet
Assets $ 166,397,549 $ 166,430,802
Liabilities 74,362,393 76,422,496
Minority Interest 7,000,000 7,000,000
Community Equity $ 85,035,156 $ 83,008,306
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