A hospital in Ludington, MI. It ran an operating surplus of 5.4% in FY25 on $132.4M of operating revenue. It held 1 day of cash on hand (29th percentile among Urban PPS hospitals on liquidity). Only a single comparable reporting year is available, so trend context is limited.
Operating margin · FY25
+5.4%
vs Urban PPS hospitals62nd pctl of 1,475 (FY25)
Days cash on hand · FY25
1d
all sources
vs Urban PPS hospitals29th pctl of 1,386 (FY25)
Total operating revenue · FY25
$132.4M
vs Urban PPS hospitals27th pctl of 1,503 (FY25)
Total margin · incl. nonoperating · FY25
+7.2%
vs Urban PPS hospitals54th pctl of 1,475 (FY25)
One point of operating margin at COREWELL HEALTH LUDINGTON HOSPITAL is about $1.3M per year (1% of FY25 total operating revenue).
Where COREWELL HEALTH LUDINGTON sits among Urban PPS hospitals
Operating margin · FY25 pool · n = 1,475 of 2,681 filed
Each point is one Urban PPS hospital in the national distribution for this provider type, placed by operating margin. Facilities are not matched on size, case mix, or market — that is the matched-peer comparison in the paid benchmark. The Urban PPS hospital median is +1.3%. Descriptive context only, not a ranking.
One urban pps hospitalCOREWELL HEALTHUrban PPS hospital median
The money
$ thousands · HCRIS cost-report basis · as filed, QA-gated
Ratios tell you how this hospital is doing. Statements tell you what kind of organization it is, and where the money comes from. Every figure below traces to a public cost-report filing, shown as filed. A ratio renders only when every input is reported in the filing; a year missing its core lines is not shown; a year whose balance sheet does not reconcile is labeled. Not audited by Astrelis.
Net patient receivables ÷ (net patient revenue ÷ 365), same fiscal year
HCRIS WS G / G-3
$ in thousands
Line item
FY23
FY24
FY25
Patient revenue
53,406
117,896
132,316
Other operating revenue
11
137
40
Total operating revenue
53,417
118,033
132,356
Total operating expenses
54,444
115,651
125,144
Operating income
(1,027)
2,381
7,212
Operating margin %
-1.9%
+2.0%
+5.4%
Grants & contributions
37
78
94
Investment income
146
236
1,361
Other non-operating, net
973
1,573
1,096
Net income
129
4,268
9,763
Net income %
+0.2%
+3.6%
+7.2%
HCRIS Worksheet G-3 / S-3 · $ thousands · FY20–FY25 · FY20–21 may include COVID-era relief funding in nonoperating income
How it operates
quality & operational context · CMS public reporting
A 33-bed hospital at 46% occupancy 84% of patient revenue is outpatient.
The metrics this hospital type is judged on: care quality, patient experience, and scale. Each is labeled by evidence class and public source; descriptive context only, never a ranking or adequacy claim.
Scale and flow
Occupancy
46.3%
Verified fact2025
HCRIS WS S-3
Average daily census
15.31
Verified fact2025
HCRIS WS S-3
Staffed beds (acute)
33
Verified fact2025
HCRIS WS S-3
Annual discharges
2,014
Verified fact2025
HCRIS WS S-3
Average length of stay
2.8d
Verified fact2025
HCRIS WS S-3
Outpatient share of patient revenue
84.2%
Verified fact2025
HCRIS WS G-2 L28
Total FTEs
458.30
Verified fact2025
HCRIS WS S-3 Pt II
Contract labor share of labor cost
19.7%
Verified fact2025
HCRIS WS S-3 Pt V
Who it serves
Total unreimbursed & uncompensated care
$2.9M
Verified fact2024
HCRIS WS S-10 line 31
How the care measures up
C. difficile infection (SIR)
1.187
No Different than National Benchmark
CMS-reported measure07/01/2024 to 06/30/2025
CMS Care Compare
Hospital-wide unplanned readmission
13.9%
No Different Than the National Rate
CMS-reported measure07/01/2023 to 06/30/2024
CMS Care Compare
Medicare spending per beneficiary
0.83
CMS-reported measure01/01/2024 to 12/31/2024
CMS Care Compare
Patient-safety composite (PSI-90)
0.959307
CMS-reported measure07/01/2022 to 06/30/2024
CMS Care Compare
Trajectory
Cost-report basis · 6 reporting years
Operating margin
Days cash on hand
The county this hospital serves
MASON County, MI
Median household income
$62.3K
vs $82.1K US · $59.7K rural median
Poverty rate
14.6%
vs 12.5% US · 14.3% rural median
Uninsured
6.1%
vs 8.6% US · 8.4% rural median
Age 65+
25.6%
vs 16.8% US · 20.6% rural median
Fair or poor health
20.7%
self-reported, adults · CDC PLACES
Primary-care shortage
Designated
HRSA HPSA
Economic context: 15.0% of county personal income is Medicare/Medicaid medical benefits; 33.5% arrives as government transfers (BEA, 2022).
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