Title
Receive Natividad Medical Center's Financial Report for the fourth quarter (April thru June 2024) of fiscal year 2024.
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors' Budget Committee receive Natividad Medical Center's Financial Report for the fourth quarter (April thru June 2024) of fiscal year 2024.
SUMMARY/DISCUSSION:
The average daily inpatient census (ADC) for the quarter was 132.0 compared to budget of 124.0. Med/Surg, ICU, and PEDS patient days were below budget for this period, while NICU, OBGYN, ARU and PSY census were higher than budget. Patient days for the quarter were 6.4% higher than budget due to increased NICU, OBGYN, ARU, and PSY patients in the quarter. The average adjusted patient days (including both inpatient and outpatient volumes) were 17,713 compared to budget of 16,237 which was favorable by 9.1%. Emergency Department visits were higher than budget by 1.3% for the quarter.
Total net margin for the quarter was positive (revenues more than expenses) at a gain of $3.6 million compared to the budget net margin of $743K.
Net patient revenues totaled $80.8 million for the quarter compared to budget of $75.2 million. Net patient revenues were higher than budget by 7.5% due to strong inpatient days. Revenues from Government Funding were $23.0 million compared to budget of $20.0 million. The other operating revenues are $7.3 million or 178.6% higher than budget due mainly to both higher interest rate and the quality incentive received from Central California Alliance Health. Interest income was higher than budget by $1.3 million for the quarter. Natividad received $2.5 million of CCAH quality incentive for FY 2023 and an additional $643K for first quarter of FY 2024. In addition, Natividad received $246K of specialty care incentive. Operating expenses for the quarter were $107.6 million compared to budget of $97.1 million or increase of 10.8%. Unfavorable operating expense variances were noted in the ...
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