SNF COST REPORT · CCN 345215 · FY 2023

RIVER TRACE NURSING & REHAB CTR

WASHINGTON, NC 27889 · Fiscal year ending 2023-09-30

150 bedsSNF

$2.6M

TOTAL REVENUE

$1.1M

OPERATING INCOME

43.0%

OPERATING MARGIN

150

TOTAL BEDS

271

DISCHARGES

01 — FINANCIAL

Financial summary

02 — UTILIZATION

03 — HISTORY

Year	Revenue	Operating Income	Beds	Margin
2017	$9.7M	−$977K	140	-10.1%
2018	$9.3M	−$1.3M	140	-13.8%
2019	$10.3M	−$352K	140	-3.4%
2020	$10.0M	−$848K	140	-8.5%
2021	$7.7M	−$2.1M	140	-27.5%
2022	$3.7M	$2.3M	150	62.6%
2023	$2.6M	$1.1M	150	43.0%

04 — OWNERSHIP

Owner	Type	Ownership %	Since
PRINCIPLE IT SERVICES, INC.	Organization	50%	—
PRINCIPLE LONG TERM CARE, INC.	Organization	50%	—
HILL, ROBERT	Individual	21%	—
HILL, STEPHEN	Individual	20%	—
HILL, RAYMOND	Individual	18%	—
BARKER, JOETTA	Individual	—	—
BOICE, GALE	Individual	—	—
JOHNSON, DIANNE	Individual	—	—
PRINCIPLE LONG TERM CARE, INC.	Organization	—	—

CROSS-REFERENCE