Corpus Intelligence HCRIS X-Ray — THOMAS HOSPITAL 2026-04-26 13:11 UTC
HCRIS X-Ray — THOMAS HOSPITAL
CCN 010100 · 164 beds · FY2022
🛡️ Public data only — no PHI permitted on this instance.
HCRIS-Native Peer X-Ray
THOMAS HOSPITAL
25 peers · same-state, any year · 28 pool, top 25 shown · benchmarked on 15 metrics
CCN 010100 · FY2022 · FAIRHOPE, AL
THOMAS HOSPITALTREND · IMPROVING · 3Y
Beds
164
Community
Patient Days
48,793
81.5% occupancy
Medicare Day Share
26.8%
moderate
NPR (filed)
$244.7M
$1,492K / bed
Operating Margin
6.2%
Healthy
Payer Diversity
0.52
1 − HHI of day mix
Plain-English read: Biggest peer gap: Opex per bed is 1,399,009 $ vs peer median 973,923 $ (+43.6%, above peer P75). Strongest outperformance: Operating margin at 6.2% vs median -0.9% (+786.4%).
Peer benchmark · target vs P25 / median / P75 · same-state, any year · 28 pool, top 25 shown
Size
Metric
Target
Peer P25
Peer Median
Peer P75
Variance
Trend · Distribution
Beds
licensed bed count
164
179
191
204
-14.1%
BELOW PEER
Target: 164
Patient days
total inpatient days filed
48,793
35,493
40,181
56,458
+21.4%
IN-BAND
Target: 4.88e+04
Occupancy rate
patient days ÷ bed days available
81.5%
50.0%
61.2%
79.0%
+33.3%
ABOVE PEER
Target: 0.815
Payer Mix
Metric
Target
Peer P25
Peer Median
Peer P75
Variance
Trend · Distribution
Medicare day share
share of inpatient days covered by Medicare
26.8%
19.0%
23.8%
28.9%
+12.7%
IN-BAND
Target: 0.268
Medicaid day share
share of inpatient days covered by Medicaid
9.8%
11.0%
16.8%
21.5%
-41.9%
ABOVE PEER
Target: 0.0976
Commercial / other day share
commercial + self-pay day share (higher = better economics)
63.5%
54.1%
59.4%
64.2%
+6.8%
IN-BAND
Target: 0.635
Payer diversity
1 − HHI of day mix; 0 = single-payer, 0.67 = balanced across 3
0.52
0.51
0.55
0.59
-6.3%
IN-BAND
Target: 0.516
Revenue Cycle
Metric
Target
Peer P25
Peer Median
Peer P75
Variance
Trend · Distribution
NPR per bed
net patient revenue ÷ beds
1,491,974 $
759,671 $
931,225 $
1,207,918 $
+60.2%
ABOVE PEER
Target: 1.49e+06
NPR per patient day
net patient revenue ÷ total patient days
5,015 $
3,825 $
4,158 $
4,373 $
+20.6%
ABOVE PEER
Target: 5.01e+03
Contractual allowance rate
contractual allowances ÷ gross patient revenue
69.5%
67.3%
75.0%
88.7%
-7.3%
IN-BAND
Target: 0.695
Net-to-gross ratio
NPR ÷ gross patient revenue (collection-rate proxy)
30.5%
11.3%
25.0%
32.7%
+21.9%
IN-BAND
Target: 0.305
Cost Structure
Metric
Target
Peer P25
Peer Median
Peer P75
Variance
Trend · Distribution
Opex per bed
operating expenses ÷ beds
1,399,009 $
766,567 $
973,923 $
1,183,720 $
+43.6%
BELOW PEER
Target: 1.4e+06
Opex per patient day
operating expenses ÷ total patient days
4,702 $
3,741 $
4,173 $
4,771 $
+12.7%
IN-BAND
Target: 4.7e+03
Margin
Metric
Target
Peer P25
Peer Median
Peer P75
Variance
Trend · Distribution
Operating margin
(NPR − opex) ÷ NPR
6.2%
-8.0%
-0.9%
3.9%
+786.4%
ABOVE PEER
Target: 0.0623
Net income margin
net income ÷ NPR
6.2%
-8.0%
-0.9%
3.9%
+786.4%
ABOVE PEER
Target: 0.0623
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 25 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 +6.2% trails public-comp median +14.2% by 8.0 pp. Public comps trade at a median EV/EBITDA of ~9x; target-implied multiple should adjust for the margin delta + size discount.
TickerCompanyOp MarginTarget ΔEV/EBITDA
HCAHCA Healthcare+16.9%-10.7pp8.9×
THCTenet Healthcare+14.2%-8.0pp8.8×
UHSUniversal Health Services+11.5%-5.3pp7.4×
ARDTArdent Health Partners+7.8%-1.6pp10.2×
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
CCNHospitalStateBedsFYMedicare %Op MarginNPR ($M)DistanceSame-stateSame-region
010131CRESTWOOD MEDICAL CENTERAL164202228.9%+14.6%258.90.222✓✓
010144SPRINGHILL MEMORIAL HOSPITALAL179202220.6%-3.8%216.20.436✓✓
010131CRESTWOOD MEDICAL CENTERAL174202128.3%+13.3%246.60.441✓✓
010131CRESTWOOD MEDICAL CENTERAL180202030.9%+12.4%243.30.586✓✓
010144SPRINGHILL MEMORIAL HOSPITALAL189202022.0%-3.8%212.30.595✓✓
010055FLOWERS HOSPITALAL193202227.2%+14.2%235.50.600✓✓
010144SPRINGHILL MEMORIAL HOSPITALAL189202120.1%-1.3%224.40.602✓✓
010005MARSHALL MEDICAL CENTERS SOUTHAL178202226.1%-6.3%186.90.678✓✓
010019HELEN KELLER HOSPITALAL172202135.9%-8.0%105.00.796✓✓
010019HELEN KELLER HOSPITALAL178202230.3%-28.0%92.00.834✓✓
010055FLOWERS HOSPITALAL204202128.8%+14.3%231.80.866✓✓
010087USA HEALTH UNIVERSITY HOSPITALAL191202017.2%+3.1%249.60.877✓✓
010149BAPTIST MEDICAL CENTER EASTAL184202113.4%-12.7%175.60.939✓✓
010149BAPTIST MEDICAL CENTER EASTAL184202014.2%+2.1%171.30.944✓✓
010019HELEN KELLER HOSPITALAL172202040.2%-24.8%105.50.956✓✓
010005MARSHALL MEDICAL CENTERS SOUTHAL192202130.6%+0.2%178.80.980✓✓
010005MARSHALL MEDICAL CENTER - SOUTHAL195202035.6%-10.4%179.81.158✓✓
010087USA HEALTH UNIVERSITY HOSPITALAL201202114.4%+3.9%298.31.184✓✓
010016SHELBY BAPTIST MEDICAL CENTERAL212202123.9%+3.1%170.71.192✓✓
010016SHELBY BAPTIST MEDICAL CENTERAL212202022.6%+7.6%164.61.217✓✓
010114UAB MEDICAL WESTAL204202023.8%-1.3%126.01.276✓✓
010016SHELBY BAPTIST MEDICAL CENTERAL212202222.7%-0.9%161.11.283✓✓
010149BAPTIST MEDICAL CENTER EASTAL208202212.6%-9.9%169.51.310✓✓
010114UAB MEDICAL WESTAL204202119.0%+1.9%142.71.323✓✓
010114UAB MEDICAL WESTAL204202217.7%-12.5%142.71.324✓✓
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 $137M (9.0× $15.2M EBITDA) · Equity $58M · Debt $80M · override any of these on the destination page.
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