SPECTRUM HEALTH LUDINGTON — History
CCN 230110 | 3-year financial timeline | COVID resilience: 61/100
🛡️ Public data only — no PHI permitted on this instance.
$110M
Latest Revenue (FY2022)
+6.1%
Revenue CAGR (3yr)
5.3%
Financial Timeline
| Metric | FY2020 | FY2021 | FY2022 | YoY (Latest) | CAGR |
|---|---|---|---|---|---|
| Net Patient Revenue | $98M | $110M | $110M | -0.2% | +6.1% |
| Operating Expenses | $94M | $106M | $104M | -2.0% | +5.1% |
| Operating Margin | 3.5% | 3.6% | 5.3% | +48.9% | +22.4% |
| Net Income | $3M | $4M | $6M | +48.6% | +29.8% |
| Licensed Beds | 45 | 45 | 45 | +0.0% | +0.0% |
| Total Patient Days | 7,295 | 8,039 | 7,432 | -7.6% | +0.9% |
| Medicare Day % | 39% | 34% | 34% | -0.8% | -6.1% |
| Medicaid Day % | 3% | 3% | 3% | +1.4% | -9.2% |
COVID Impact & Recovery
Resilience Score: 61/100 — Moderate — some COVID impact but recovering
Revenue recovery from FY2020 to FY2022: +12.6% ($98M → $110M)
FY2020 captured the initial COVID shock. Strong recovery indicates operational resilience and payer diversification.
Trend Summary
Revenue▲ Growing
Operating Margin▲ Growing
Beds▶ Stable
Medicare Mix▲ Growing
vs State Average ()
Revenue Growth
+6.1%
This Hospital
+7.6%
State Avg
Latest Margin
5.3%
This Hospital
-4.6%
State Avg
Projections (FY2023-2025)
Extrapolated from 3-year trend using linear projection. Does not account for regulatory or market changes.
| Year | Revenue (proj) | Margin (proj) |
|---|---|---|
| FY2023 (proj) | $116M | 6.2% |
| FY2024 (proj) | $122M | 7.1% |
| FY2025 (proj) | $129M | 7.9% |