HCRIS X-Ray — DECATUR MORGAN - DECATUR CAMPUS

🛡️ Public data only — no PHI permitted on this instance.

HCRIS-Native Peer X-Ray

DECATUR MORGAN - DECATUR CAMPUS

19 peers · same-state, any year · 19 pool, top 19 shown · benchmarked on 15 metrics

CCN 010085 · FY2022 · DECATUR, AL

DECATUR MORGAN - DECATUR CAMPUSTREND · DETERIORATING · 3Y

Beds

310

Regional

Patient Days

41,737

36.9% occupancy

Medicare Day Share

30.6%

moderate

NPR (filed)

$170.4M

$550K / bed

Operating Margin

-22.6%

Negative

Payer Diversity

0.56

1 − HHI of day mix

Plain-English read: Biggest peer gap: Operating margin is -22.6% vs peer median -5.0% (-349.4%, below peer P25). Strongest outperformance: Opex per bed at 673,922 $ vs median 1,263,335 $ (-46.7%).

Peer benchmark · target vs P25 / median / P75 · same-state, any year · 19 pool, top 19 shown

Size

Metric

Target

Peer P25

Peer Median

Peer P75

Variance

Trend · Distribution

Beds

licensed bed count

310

327

349

351

-11.2%

BELOW PEER

Patient days

total inpatient days filed

41,737

76,797

94,647

98,109

-55.9%

BELOW PEER

Occupancy rate

patient days ÷ bed days available

36.9%

57.9%

70.6%

79.6%

-47.8%

BELOW PEER

Payer Mix

Metric

Target

Peer P25

Peer Median

Peer P75

Variance

Trend · Distribution

Medicare day share

share of inpatient days covered by Medicare

30.6%

18.8%

21.2%

24.1%

+44.2%

BELOW PEER

Medicaid day share

share of inpatient days covered by Medicaid

11.3%

12.6%

22.8%

-10.5%

IN-BAND

Commercial / other day share

commercial + self-pay day share (higher = better economics)

58.1%

51.3%

58.8%

64.3%

-1.1%

IN-BAND

Payer diversity

1 − HHI of day mix; 0 = single-payer, 0.67 = balanced across 3

0.56

0.49

0.54

0.58

+2.9%

IN-BAND

Revenue Cycle

Metric

Target

Peer P25

Peer Median

Peer P75

Variance

Trend · Distribution

NPR per bed

net patient revenue ÷ beds

549,598 $

1,098,905 $

1,210,015 $

1,717,101 $

-54.6%

BELOW PEER

NPR per patient day

net patient revenue ÷ total patient days

4,082 $

3,992 $

4,923 $

5,937 $

-17.1%

IN-BAND

Contractual allowance rate

contractual allowances ÷ gross patient revenue

69.3%

nan%

68.4%

73.6%

+1.4%

IN-BAND

Net-to-gross ratio

NPR ÷ gross patient revenue (collection-rate proxy)

30.7%

20.8%

31.2%

39.4%

-1.7%

IN-BAND

Cost Structure

Metric

Target

Peer P25

Peer Median

Peer P75

Variance

Trend · Distribution

Opex per bed

operating expenses ÷ beds

673,922 $

1,162,719 $

1,263,335 $

1,799,536 $

-46.7%

ABOVE PEER

Opex per patient day

operating expenses ÷ total patient days

5,006 $

4,152 $

5,191 $

5,604 $

-3.6%

IN-BAND

Margin

Metric

Target

Peer P25

Peer Median

Peer P75

Variance

Trend · Distribution

Operating margin

(NPR − opex) ÷ NPR

-22.6%

-6.9%

-5.0%

-2.2%

-349.4%

BELOW PEER

Net income margin

net income ÷ NPR

-22.6%

-6.9%

-5.0%

-2.2%

-349.4%

BELOW PEER

How to read: Target column is the filed value from the hospital's most recent Medicare cost report. P25 / median / P75 are drawn from the 19 peer hospitals matched on size cohort, state, payer mix, and fiscal year. Variance is signed % vs peer median; green chip = better than peers on this metric; red chip = worse than peers; amber/neutral = inside the P25-P75 band.

Public market context · Seeking Alpha hospital comps

Target operating margin -22.6% trails public-comp median +14.2% by 36.8 pp. Public comps trade at a median EV/EBITDA of ~9x; target-implied multiple should adjust for the margin delta + size discount.

Ticker	Company	Op Margin	Target Δ	EV/EBITDA
HCA	HCA Healthcare	+16.9%	-39.5pp	8.9×
THC	Tenet Healthcare	+14.2%	-36.8pp	8.8×
UHS	Universal Health Services	+11.5%	-34.1pp	7.4×
ARDT	Ardent Health Partners	+7.8%	-30.4pp	10.2×

Public-hospital comps are curated from 10-K / analyst consensus via → Seeking Alpha Market Intel. Margin delta × $ of NPR ≈ the EBITDA gap between the target and the public bench.

Peer roster

Peer roster · sorted by feature distance (closest match first) · CSV export wired
CCN	Hospital	State	Beds	FY	Medicare %	Op Margin	NPR ($M)	Distance	Same-state	Same-region
010085	DECATUR MORGAN - DECATUR CAMPUS	AL	305	2020	38.4%	-10.9%	191.5	0.247	✓	✓
010029	EAST ALABAMA MEDICAL CENTER	AL	311	2020	28.5%	-9.2%	341.8	0.463	✓	✓
010029	EAST ALABAMA MEDICAL CENTER	AL	311	2021	24.1%	+56.6%	881.7	0.563	✓	✓
010001	SOUTHEAST HEALTH MEDICAL CENTER	AL	332	2020	31.1%	-1.7%	386.1	0.651	✓	✓
010001	SOUTHEAST HEALTH MEDICAL CENTER	AL	326	2021	28.2%	-5.9%	398.2	0.689	✓	✓
010090	PROVIDENCE HOSPITAL	AL	349	2020	23.7%	+5.9%	251.2	0.706	✓	✓
010090	PROVIDENCE HOSPITAL	AL	349	2021	20.3%	-5.1%	246.7	0.760	✓	✓
010090	PROVIDENCE HOSPITAL	AL	349	2022	19.8%	-5.0%	246.9	0.765	✓	✓
010023	BAPTIST MEDICAL CENTER SOUTH	AL	329	2021	19.8%	-10.1%	580.6	0.947	✓	✓
010001	SOUTHEAST HEALTH MEDICAL CENTER	AL	353	2022	24.9%	-4.4%	427.1	0.978	✓	✓
010023	BAPTIST MEDICAL CENTER SOUTH	AL	327	2020	22.3%	-5.5%	561.5	0.984	✓	✓
010023	BAPTIST MEDICAL CENTER SOUTH	AL	348	2022	16.0%	-4.8%	595.4	1.158	✓	✓
010056	ST VINCENTS BIRMINGHAM	AL	401	2020	22.8%	-2.7%	454.1	1.252	✓	✓
010056	ST VINCENTS BIRMINGHAM	AL	401	2021	18.8%	-6.9%	471.5	1.389	✓	✓
010056	ST VINCENTS BIRMINGHAM	AL	399	2022	19.2%	-5.5%	480.0	1.406	✓	✓
010092	DCH REGIONAL MEDICAL CENTER	AL	372	2022	21.2%	-11.2%	601.9	1.469	✓	✓
013300	THE CHILDRENS HOSPITAL OF ALABAMA	AL	351	2020	0.4%	-2.2%	682.4	1.892	✓	✓
013300	THE CHILDRENS HOSPITAL OF ALABAMA	AL	351	2021	0.4%	+3.8%	769.4	1.945	✓	✓
013300	THE CHILDRENS HOSPITAL OF ALABAMA	AL	351	2022	0.5%	+5.8%	839.5	nan	✓	✓

Cross-reference · pre-seeded with HCRIS-filed NPR, operating margin + peer-median 9.0× entry cap structure

→ Deal MC · → Payer Stress · → Covenant Stress · → Regulatory Calendar · → Bear Case

EV $77M (9.0× $8.5M EBITDA) · Equity $32M · Debt $44M · override any of these on the destination page.

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