Velarion Records

Short-term acute care hospital · Madison, Indiana · 61 beds · CMS certification number 150069

Norton - Kings Daughters Health

Its Medicare cost reports, read cell by cell. Latest filing: fiscal year ended December 31, 2025, as submitted, stamped by CMS June 15, 2026. 30 years on file, every one shown below. Also on the 340B covered-entity register.

Fiscal 2025 at a glance

Net patient revenue
$129.6M
$129,592,466 · G-3 line 3
Operating expenses
$113.3M
$113,291,147 · G-3 line 4
Result from patient care
$16.3M
$16,301,319 · G-3 line 5
Margin on patient care
12.6%
line 5 ÷ line 3, same filing

What stands out

  • Net patient revenue rose from $41.2M in its first year on file (1996) to $129.6M in 2025.
  • Its result from patient care: −$25.9M (2023), −$48.2M (2024), $16.3M (2025).
  • 2 of the 5 short-term acute care hospital peers below with a margin on file also report a gain on patient care for fiscal year 2025.
  • Medicaid paid for 2.7% of its inpatient days and Medicare for 31.1%.
  • NORTON - KINGS DAUGHTERS HEALTH INC holds 100% of it, on its Medicare enrollment.

Every statement is drawn from figures on this page; nothing is estimated.

30 years of filings

Net patient revenue against operating expenses, each year as filed.

Net patient revenueOperating expenses
1996
settled
$41.2M
$37.2M
1997
reopened
$47.0M
$42.7M
1998
reopened
$54.9M
$51.7M
1999
settled
$59.5M
$53.7M
2000
settled
$60.5M
$59.3M
2001
settled
$66.7M
$64.9M
2002
settled
$69.0M
$68.3M
2003
settled
$77.9M
$74.4M
2004
settled
$83.6M
$78.1M
2005
reopened
$92.5M
$83.3M
2006
reopened
$97.2M
$90.5M
2007
reopened
$102.3M
$95.5M
2008
reopened
$101.8M
$97.3M
2009
reopened
$112.5M
$106.4M
2010
reopened
$111.6M
$107.2M
2011
reopened
$109.1M
$106.8M
2012
reopened
$123.0M
$118.9M
2013
reopened
$111.7M
$121.5M
2014
settled
$102.2M
$117.7M
2015
reopened
$132.8M
$121.0M
2016
reopened
$125.3M
$122.7M
2017
reopened
$127.0M
$123.6M
2018
reopened
$129.4M
$125.8M
2019
reopened
$121.8M
$124.5M
2020
settled
$119.3M
$122.3M
2021
settled
$143.5M
$136.3M
2022
settled
$123.4M
$140.4M
2023
settled
$137.6M
$163.4M
2024
as submitted
$139.1M
$187.3M
2025
as submitted
$129.6M
$113.3M

Beside its peers

Short-term acute care hospitals in Indiana with 50 to 99 beds, each on fiscal year 2025.

HospitalBedsNet patient revenueOperating expensesMargin
Norton - Kings Daughters Health61$129,592,466$113,291,14712.6%
Franciscan Health Mooresville, Mooresville80$157,958,396$148,893,5235.7%
Franciscan Healthcare-Munster, Munster78$157,805,676$179,560,157−13.8%
Johnson Memorial Hospital, Franklin58$110,104,542$113,773,324−3.3%
Lutheran Kosciusko Hospital, Warsaw72$122,614,597$97,541,53120.4%
St. Elizabeth Dearborn Hospital, Lawrenceburg58$92,833,155$104,321,494−12.4%

Patients and payers

Discharges
2,235
S-3 line 14, col 15
Inpatient days
7,652
S-3 line 14, col 8
Beds in use, on an average day
21.0
days ÷ days in year
Occupancy
34.4%
days ÷ bed days
Medicare share of days
31.1%
S-3 cols 6 ÷ 8
Medicaid share of days
2.7%
S-3 cols 7 ÷ 8

Who owns it

  • NORTON - KINGS DAUGHTERS HEALTH INC100%
  • NORTON HEALTHCARE - INDIANA, INC0%
  • NORTON HEALTHCARE INC0%

Related organizations on its own cost report: NORTON HEALTHCA, home office.

Other hospitals with the same owner: Norton Clark Hospital (IN), Norton Scott Hospital (IN), Norton Hospitals (KY).

Type of control on its cost report: voluntary nonprofit, other.

Owners of 5% or more, from CMS’s hospital ownership file (Medicare enrollment, October 1, 2026).

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Figures: CMS Healthcare Cost Report Information System, file HOSP10FY2025.ZIP, form CMS-2552-10, filed under CMS certification number 150069. Patients and payers: worksheet S-3 Part I of the same filing. Ownership: CMS Hospital All Owners and Hospital Enrollments.

How this page was built: the CMS Medicare cost report, file HOSP10FY2025.ZIP, read June 15, 2026.