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Financial Reports

Financial Reports

2011 Norton Healthcare Financial Report
2010 Norton Healthcare Financial Report
2009 Norton Healthcare Financial Report
2008 Norton Healthcare Financial Report
2007 Norton Healthcare Financial Report
2006 Norton Healthcare Financial Report
2005 Norton Healthcare Financial Report
2004 Norton Healthcare Financial Report

News Release & Media Coverage

Norton Healthcare News Release

Financial Report Glossary

Not-for-profit health care system - The "profits" of a nonprofit health care system, such as Norton Healthcare, are used to reinvest in its community assets. This contrasts with for-profit health care providers, which use part of their profits to pay stockholder dividends. Norton uses its profits to improve facilities, technology, information systems, services and other areas; and to provide direct benefits to the community through the "Community Dividend," as described below.

Cash flow from operations - Money generated and used for operations during a specific time period.

Cash reserves - The amount of cash, cash equivalents and investments, which can be easily converted to cash to pay the company's obligations.

Community dividend - The cost to fund charity care, education, unpaid Medicaid services, pastoral care and counseling, research and health initiatives benefiting the community. Norton Healthcare provided a record $67.2 million community dividend in 2006 and a total of $307.4 million during the 2002-06 period.

Days cash on hand  - A calculation based on the amount of cash reserves divided by the average daily direct and fixed expenses for the period. This is a key indicator of an organization's financial strength.

Gross revenues - Total revenues generated by providing services to patients.

Maximum debt service coverage ratio - An important indicator of an organization's ability to meet debt obligations.

Net patient receivables  - Gross patient receivables less an allowance for contractual arrangements (reduced amounts paid by commercial and government insurance programs) less an allowance for uncollectible accounts.

Net revenues - Gross revenues less third-party payer (commercial and government insurance programs) reductions due to contractual arrangements.

Operating income - Profit realized from operations. In Norton Healthcare's case, patient service margin plus investment income.

Patient service margin - Financial results from our organization's core business, patient care services. Patient service margin represents the profit generated by providing patient services, less direct expenses (salaries, benefits, medications, supplies and bad debts) and fixed expenses (depreciation, rent and interest). Patient service margin can be expressed as a dollar amount ($51.3 million for Norton Healthcare in 2006, which represents revenues minus operating and fixed expenses); or as a percentage (4.5 percent for Norton Healthcare in 2006, which represents patient service margin divided by total revenues.)

Total system assets  - The amount of total assets of the company, which includes cash, cash equivalents, patient accounts receivable, investments, property, equipment and other assets.

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