FoundationAnnualReport2022

Financials Financial Statement Comparison 2022 2021 Our Income Total Inpatient Revenue........................................................................ $208,124,972 $225,885,984 Total Outpatient Revenue. ................................................................... $494,531,342 $504,503,833 Total revenue from these services...................................................... $702,656,314 $730,389,817 Less System contractual adjustments/ allowances to third party payors......................................................... ($427,252,362) ($441,208,593) Cost of care underwritten for persons without the ability to pay for their services and bad debt. .............................................. ($13,768,670) ($13,275,941) Net revenue from patient services..................................................... $261,635,282 $275,905,283 Plus Other operating revenue..................................................................... $39,945,446 $37,735,578 Equals Total Operating Revenue..................................................................... $301,580,728 $313,640,861 Our Expenses Salaries, wages, employee benefits, supplies, purchased services, and general expenses....................................... $301,936,373 $295,420,188 State of Ohio imposed Franchise Fee. ............................................... $8,347,350 $7,218,218 Interest expense.................................................................................... $4,204,616 $3,627,501 Total Operating Expenses................................................................... $314,488,339 $306,265,907 Net Results ($12,907,611) $7,374,954 This financial statement reflects the 2022 and 2021 operating results for Firelands Health, including Firelands Regional Medical Center, Firelands Physician Group, and The Foundation for Firelands 59