Summary of 2020 Community Benefits
Salinas Valley Memorial Healthcare System supports the community with grants and sponsorships to organizations and nonprofit agencies furthering a mission of health and wellness. In addition, we help cover the costs of care that are not fully covered by insurance or government programs, and for patients who have limited financial resources.
Summary of 2020 Community Benefits
| 2021 |
| Improving Access to Care |
| Unpaid cost of Medicare program | $70,903,000 |
| Unpaid cost of Medi-Cal program | 43,060,000 |
| Charity care for uninsured | 10,485,000 |
| Outpatient care and additional uncompensated expenses | 41,587,000 |
| Total Benefits | 166,035,000 |
| Community Health Initiatives |
| Community health education and awareness | 1,891,000 |
| Community grants/support | 963,000 |
| Total Benefits | $2,854,000 |
| Total Community Giving Impact | $168,889,000 |
Fiscal Year 2019-20 Billed Charges
Fiscal responsibility is a priority at SVMHS. We face a number of significant investments in the coming years, such as the need for an updated facility to meet state-mandated seismic safety regulations, expansion of our Emergency Room to reduce wait times, expansion of our operating rooms and an update and refresh of our existing hospital.
All income over expenses is reinvested into the Healthcare System so that we can continue to care for all patients, regardless of their ability to pay, and provide the latest technology and services to our region.
Financial Snapshot
Fiscal Year 2020 Billed Charges
| 2020 |
| Fiscal Year 2020 Billed Charges | $2,424,986,000 |
| Charity provided care to those unable to pay | 10,485,000 |
| Unpaid government and commercial insurance reimbursement | 1,737,934,000 |
| Other billed items, including bad debt and write-offs | 40,928,000 |
| Total deduction | $1,789,347,000 |
| Total amount we received | $635,639,000 |
Financial Statements
Operating Revenues
| Operating Revenues | 2020 |
| Patient services revenues | $635,639,000 |
| Other revenues | 26,125,000 |
| Total operating revenues | $661,764,000 |
Operating Expenses
| Operating Expenses | 2020 |
| Personnel | $316,484,000 |
| Supplies | 75,945,000 |
| Purchased services | 46,159,000 |
| Medical and other fees | 88,231,000 |
| Impairment loss | 0 |
| Depreciation and amortization | 22,385,000 |
| Other expenses | 23,125,000 |
| Total operating expenses | $572,329,000 |
| Net operating income (14% margin) | $89,435,000 |
Non-operating Revenues and Expenses
| Non-operating Revenues and Expenses | 2020 |
| CARES Act grant | $11,094,000 |
| Donations | 6,205,000 |
| Property taxes | 4,582,000 |
| Investments | 609,000 |
| Other | 2,189,000 |
| Total non-operating revenues and expenses | $24,679,000 |
| Minority interest in income from affiliates | (466,000) |
Increase in Net Position
| Increase in Net Position | 2020 |
| Increase in net position | $113,648,000 |
| Net position (July 1, 2019) | 644,704,000 |
| NET POSITION (JUNE 30, 2020) | $758,352,000 |
