A hospice in Mishawaka, IN. It ran an operating surplus of 1.4% in FY24 on $3.0M of operating revenue. It held 40 days of cash on hand (59th percentile among hospices on liquidity). Only a single comparable reporting year is available, so trend context is limited. It carries an average daily census of 45.
Average daily census
45
Verified fact2024
Source: CMS Hospice
Hospice Care Index
9
Verified fact2024
Source: CMS Hospice Quality
Operating margin · FY24
+1.4%
vs hospices52nd pctl of 3,488 (FY24)
Total days of care
16252.0d
Verified fact2024
Source: HCRIS CMS-1984
Where CARING COVE HOSPICE sits among hospices
Operating margin · FY24 pool · n = 3,488 of 5,626 filed
Each point is one hospice 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 hospice median is +0.1%. Descriptive context only, not a ranking.
One hospiceCARING COVEhospice median
The money
$ thousands · HCRIS cost-report basis · as filed, QA-gated
Ratios tell you how this hospice 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.
Operating margin
+1.4% (FY24)
Operating income ÷ total operating revenue
HCRIS WS G-3
Total margin
+9.2% (FY24)
Net income ÷ total revenue incl. nonoperating
HCRIS WS G-3
Days cash on hand
40d (FY24)
Cash & investments ÷ daily operating expense
HCRIS WS G / G-3
Current ratio
6.25× (FY24)
Total current assets ÷ current liabilities
HCRIS WS G
Equity financing ratio
16% (FY24)
Total net assets ÷ total assets
HCRIS WS G
Days in net patient A/R
48d (FY24)
Net patient receivables ÷ (net patient revenue ÷ 365), same fiscal year
quality & operational context · CMS public reporting
The metrics this hospice 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.
Hospice Care Index
9
Verified fact2024
CMS Hospice Quality
Average daily census
45
Verified fact2024
CMS Hospice
Routine home care mix
99.6%
Verified fact2024
HCRIS CMS-1984
Respite mix
0.4%
Verified fact2024
HCRIS CMS-1984
Total days of care
16252.0d
Verified fact2024
HCRIS CMS-1984
Continuous home care mix
0.0%
Verified fact2024
HCRIS CMS-1984
General inpatient mix
0.0%
Verified fact2024
HCRIS CMS-1984
Trajectory
Cost-report basis · 3 reporting years
Operating margin
Days cash on hand
The county this hospice serves
St. Joseph County, IN · metro, 250K–1M
Median household income
$64.9K
vs $82.1K US · $59.7K rural median
Poverty rate
14.6%
vs 12.5% US · 14.3% rural median
Uninsured
7.3%
vs 8.6% US · 8.4% rural median
Age 65+
16.5%
vs 16.8% US · 20.6% rural median
Fair or poor health
21.1%
self-reported, adults · CDC PLACES
Primary-care shortage
Designated
HRSA HPSA
Economic context: 9.7% of county personal income is Medicare/Medicaid medical benefits; 21.3% arrives as government transfers (BEA, 2022).
Opportunity screen · FY24
≈ $303K
of annual opportunity identified against peer medians across 1 measure
Directional, conservative band. Arithmetic against matched-peer medians from public filings, not a projection; public data cannot fully control for patient acuity.
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