Velarion Records

Short-term acute care hospital · Lexington, Kentucky · 434 beds · CMS certification number 180103

Baptist Health Lexington

Its Medicare cost reports, read cell by cell. Latest filing: fiscal year ended August 31, 2025, as submitted, stamped by CMS February 5, 2026. 29 years on file, every one shown below.

Fiscal 2025 at a glance

Net patient revenue
$954.2M
$954,163,471 · G-3 line 3
Operating expenses
$973.9M
$973,905,048 · G-3 line 4
Result from patient care
−$19.7M
−$19,741,577 · G-3 line 5
Margin on patient care
−2.1%
line 5 ÷ line 3, same filing

What stands out

  • Net patient revenue rose from $178.3M in its first year on file (1997) to $954.2M in 2025.
  • Its result from patient care: $21.2M (2023), −$18.9M (2024), −$19.7M (2025).
  • 3 of the 5 short-term acute care hospital peers below with a margin on file also report a loss on patient care for fiscal year 2025.
  • Medicaid paid for 0.7% of its inpatient days and Medicare for 21.8%.

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

29 years of filings

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

Net patient revenueOperating expenses
1997
reopened
$178.3M
$168.5M
1998
reopened
$198.5M
$187.4M
1999
reopened
$186.5M
$186.6M
2000
reopened
$193.8M
$197.6M
2001
settled
$207.2M
$198.6M
2002
reopened
$237.2M
$226.6M
2003
reopened
$228.0M
$229.2M
2004
reopened
$260.4M
$252.7M
2005
reopened
$287.1M
$276.9M
2006
reopened
$297.3M
$289.8M
2007
reopened
$316.6M
$313.3M
2008
reopened
$327.6M
$321.5M
2009
reopened
$359.9M
$334.3M
2010
reopened
$364.2M
$350.0M
2011
reopened
$396.0M
$379.4M
2012
reopened
$402.9M
$388.5M
2013
reopened
$419.9M
$410.0M
2014
reopened
$438.2M
$416.0M
2015
reopened
$444.1M
$396.7M
2016
reopened
$515.1M
$389.3M
2017
reopened
$528.1M
$511.7M
2018
reopened
$537.5M
$482.0M
2019
reopened
$599.6M
$559.9M
2020
reopened
$599.6M
$599.3M
2021
reopened
$732.5M
$666.0M
2022
reopened
$744.9M
$753.1M
2023
settled with audit
$760.6M
$739.4M
2024
settled
$886.3M
$905.2M
2025
as submitted
$954.2M
$973.9M

Beside its peers

Short-term acute care hospitals in Kentucky with 400 and over beds, each on fiscal year 2025.

HospitalBedsNet patient revenueOperating expensesMargin
Baptist Health Lexington434$954,163,471$973,905,048−2.1%
Baptist Health Louisville, Louisville473$788,117,792$898,902,985−14.1%
Norton Hospitals, Louisville1,566$3,646,122,388$3,418,363,7906.3%
St. Elizabeth Edgewood, Edgewood470$1,291,837,373$1,242,735,9273.8%
University of Kentucky, Lexington1,067$2,460,590,016$3,126,017,421−27.0%
Uofl Health - Louisville, Louisville789$1,205,800,460$1,219,449,232−1.1%

Patients and payers

Discharges
20,183
S-3 line 14, col 15
Inpatient days
107,967
S-3 line 14, col 8
Beds in use, on an average day
296.6
days ÷ days in year
Occupancy
68.2%
days ÷ bed days
Medicare share of days
21.8%
S-3 cols 6 ÷ 8
Medicaid share of days
0.7%
S-3 cols 7 ÷ 8

Who owns it

Related organizations on its own cost report: BAPTIST HC SYS (100%), home office.

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

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Figures: CMS Healthcare Cost Report Information System, file HOSP10FY2024.ZIP, form CMS-2552-10, filed under CMS certification number 180103. Patients and payers: worksheet S-3 Part I of the same filing.

How this page was built: the CMS Medicare cost report, file HOSP10FY2024.ZIP, read February 5, 2026.