File #: BC 22-124    Name: Receive Natividad Medical Center’s Financial Report for the fourth quarter (April 2022 thru June 2022) of fiscal year 2022.
Type: Budget Committee Status: Agenda Ready
File created: 8/19/2022 In control: Board of Supervisors
On agenda: 8/31/2022 Final action:
Title: Receive Natividad Medical Center's Financial Report for the fourth quarter (April 2022 thru June 2022) of fiscal year 2022.
Attachments: 1. BC Report, 2. NMC's Financial Statements
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Title
Receive Natividad Medical Center's Financial Report for the fourth quarter (April 2022 thru June 2022) of fiscal year 2022.

Report
RECOMMENDATION:
It is recommended that the Board of Supervisors' Budget Committee receive Natividad Medical Center's Financial Report for the fourth quarter (April 2022 thru June 2022) of fiscal year 2022.

SUMMARY/DISCUSSION:
The average daily inpatient census (ADC) for the quarter was 123.9 compared to the budget of 114.0. Psychiatric patient days were below budget for this period, while Med/Surg, NICU, PEDS, ICU, Rehab, and OBGYN census were higher than budget. Patient days for the quarter were 9.9% higher than budget due to increased Med Surg, OBGYN, ICU, and Rehab patients in the quarter; a portion of the increase is attributable to COVID patients. The average adjusted patient days (including inpatient and outpatient volumes) were 16,020 compared to a budget of 14,795, favorable by 8.3%. Emergency Department visits for the quarter were 13,787 or higher than budget by 3.3%.

The total net margin for the quarter was positive (revenues more than expenses) at a gain of $16.1 million compared to the budget net margin of $2.5 million. Included in revenues was a one-time payment from Kaiser of $14.2 million from a Kaiser settlement related to trauma contract rates. Excluding the one-time settlement, the net margin for the quarter was positive at $1.9 million.

Net patient revenues totaled $90.9 million for the quarter compared to a budget of $65.4 million. Net patient revenues were significantly higher than budget by 39.1% due to the Kaiser patient claims settlement of $14.2 million, strong inpatient days, and professional fees revenues. Revenues from Government Funding were $18.0 million compared to the budget of $14.0 million. The lower revenues from other operating revenues resulted significantly from decreased interest income due to the lower interest rate for the quarter. Operating expenses for the quarter were $94.9 ...

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