Velarion Records

Psychiatric hospital · Towson, Maryland · 354 beds · CMS certification number 214000

Sheppard Pratt Hospital and Sheppard and Enoch and Pratt Hospital

Its Medicare cost reports, read cell by cell. Latest filing: fiscal year ended June 30, 2025, as submitted, stamped by CMS November 17, 2025. 29 years on file, every one shown below.

Fiscal 2025 at a glance

Net patient revenue
$185.2M
$185,249,332 · G-3 line 3
Operating expenses
$310.2M
$310,197,576 · G-3 line 4
Result from patient care
−$124.9M
−$124,948,244 · G-3 line 5
Margin on patient care
−67.5%
line 5 ÷ line 3, same filing

What stands out

  • Net patient revenue rose from $34.5M in its first year on file (1997) to $185.2M in 2025.
  • Its result from patient care: −$105.5M (2023), −$109.3M (2024), −$124.9M (2025).
  • All 5 psychiatric hospital peers below with a margin on file also report a loss on patient care for fiscal year 2025.
  • Medicaid paid for 48.9% of its inpatient days and Medicare for 11.1%.

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
settled
$34.5M
$54.4M
1998
reopened
$33.8M
$64.1M
1999
settled
$43.9M
$89.0M
2000
settled
$43.7M
$86.7M
2001
settled with audit
$39.3M
$96.9M
2002
reopened
$35.8M
$81.7M
2003
reopened
$47.0M
$99.2M
2004
settled
$47.3M
$104.4M
2005
settled with audit
$55.8M
$114.1M
2006
reopened
$76.3M
$142.0M
2007
reopened
$83.7M
$152.0M
2008
reopened
$90.9M
$160.8M
2009
reopened
$94.0M
$169.8M
2010
settled
$96.7M
$174.8M
2011
settled
$104.3M
$180.6M
2012
settled
$89.7M
$191.2M
2013
settled
$112.9M
$191.2M
2014
settled
$115.5M
$198.3M
2015
settled
$120.9M
$205.8M
2016
settled
$126.3M
$213.5M
2017
settled
$132.5M
$221.6M
2018
settled
$136.2M
$234.1M
2019
settled with audit
$139.2M
$239.6M
2020
settled
$133.5M
$232.8M
2021
settled
$130.8M
$210.5M
2022
settled
$139.2M
$254.7M
2023
settled
$170.0M
$275.5M
2024
settled
$178.9M
$288.1M
2025
as submitted
$185.2M
$310.2M

Beside its peers

Hospitals of the same type (psychiatric hospital), nearest in size, from Maryland first; each on fiscal year 2025.

HospitalBedsNet patient revenueOperating expensesMargin
Sheppard Pratt Hospital and Sheppard and Enoch and Pratt Hospital354$185,249,332$310,197,576−67.5%
Brook Lane Health Services, Hagerstown65$26,679,818$28,612,684−7.2%
Anne Arundel Mental Health Hospital, Annapolis16$7,726,412$8,743,328−13.2%
North Texas State Hospital - Wichita Falls Campus, Wichita Falls (TX)365$108,469,042$198,419,501−82.9%
Southeast Missouri Mental Health Center, Farmington (MO)348$62,134,832$113,165,617−82.1%
Um Upper Chesapeake Behavioral Health Pavilion at Aberdeen, Aberdeen33$20,148,077$24,579,488−22.0%

Patients and payers

Discharges
7,511
S-3 line 14, col 15
Inpatient days
106,318
S-3 line 14, col 8
Beds in use, on an average day
292.1
days ÷ days in year
Occupancy
82.3%
days ÷ bed days
Medicare share of days
11.1%
S-3 cols 6 ÷ 8
Medicaid share of days
48.9%
S-3 cols 7 ÷ 8

Who owns it

Related organizations on its own cost report: SHEPPARD PRATT HEALTH SYSTEM, health system; SHEPPARD & ENOCH PRATT HOSPITAL, health system; SPPA, physicians; INVESTMENT INC, investment comp; MOSAIC, resident/vocati.

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

Follow this hospital, free

We send this record now and tell you when it files again.

More psychiatric hospitals in Maryland

From the publisher of Velarion Records

Velarion Intel

Independent Decision-Grade Intelligence

Compensation and corporate governance intelligence for advisors, investors and companies. Executive and board pay for public companies, benchmarked against peers.

See what Intel shows

Figures: CMS Healthcare Cost Report Information System, file HOSP10FY2024.ZIP, form CMS-2552-10, filed under CMS certification number 214000. 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 November 17, 2025.