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Rehabilitation hospital · Charlestown, Massachusetts · 132 beds · CMS certification number 223034

Spaulding Rehabilitation Hospital - Boston

Its Medicare cost reports, read cell by cell. Latest filing: fiscal year ended September 30, 2025, as submitted, stamped by CMS March 10, 2026. Nineteen years on file, every one shown below.

Fiscal 2025 at a glance

Net patient revenue
$194.2M
$194,181,907 · G-3 line 3
Operating expenses
$238.3M
$238,255,473 · G-3 line 4
Result from patient care
−$44.1M
−$44,073,566 · G-3 line 5
Margin on patient care
−22.7%
line 5 ÷ line 3, same filing

What stands out

  • Net patient revenue rose from $85.0M in its first year on file (2007) to $194.2M in 2025.
  • Its result from patient care: −$40.5M (2023), −$48.2M (2024), −$44.1M (2025).
  • 1 of the 5 rehabilitation hospital peers below with a margin on file also reports a loss on patient care for fiscal year 2025.
  • Medicaid paid for 5.7% of its inpatient days and Medicare for 33.6%.

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

Nineteen years of filings

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

Net patient revenueOperating expenses
2007
reopened
$85.0M
$97.3M
2008
settled
$84.0M
$97.4M
2009
settled with audit
$89.7M
$96.3M
2010
settled
$92.6M
$100.7M
2011
settled
$96.4M
$104.1M
2012
settled
$99.5M
$111.2M
2013
settled
$98.6M
$120.0M
2014
settled
$100.7M
$129.2M
2015
reopened
$108.4M
$132.2M
2016
settled
$118.8M
$151.1M
2017
settled
$121.2M
$154.8M
2018
settled
$130.5M
$165.2M
2019
reopened
$134.6M
$171.5M
2020
reopened
$131.2M
$173.0M
2021
settled
$146.8M
$180.3M
2022
settled
$144.9M
$194.7M
2023
settled
$167.5M
$208.1M
2024
settled
$171.9M
$220.2M
2025
as submitted
$194.2M
$238.3M

Beside its peers

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

HospitalBedsNet patient revenueOperating expensesMargin
Spaulding Rehabilitation Hospital - Boston132$194,181,907$238,255,473−22.7%
Encompass Health Rehabilitation Hospital of New England, Woburn179$83,947,589$68,687,38818.2%
Encompass Health Rehabilitation Hospital of Braintree, Braintree187$78,827,335$65,368,07817.1%
Encompass Health Rehabilitation Hospital of Western Massachusetts, Ludlow70$38,231,015$30,330,86520.7%
Fairlawn Rehabilitation Hospital, Worcester110$50,877,732$42,093,40417.3%
Spaulding Rehabilitation Hospital Cape Cod, East Sandwich60$59,447,670$63,932,922−7.5%

Patients and payers

Discharges
2,843
S-3 line 14, col 15
Inpatient days
45,714
S-3 line 14, col 8
Beds in use, on an average day
125.6
days ÷ days in year
Occupancy
94.9%
days ÷ bed days
Medicare share of days
33.6%
S-3 cols 6 ÷ 8
Medicaid share of days
5.7%
S-3 cols 7 ÷ 8

Who owns it

Related organizations on its own cost report: MASS GEN BRIG, mgt services; SRN, mgt svcs.

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

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Figures: CMS Healthcare Cost Report Information System, file HOSP10FY2025.ZIP, form CMS-2552-10, filed under CMS certification number 223034. Patients and payers: worksheet S-3 Part I of the same filing.

How this page was built: the CMS Medicare cost report, file HOSP10FY2025.ZIP, read March 10, 2026.