Title
Receive the Natividad Medical Center Financial Report for October 31, 2020.
Report
RECOMMENDATION:
It is recommended that the Budget Committee receive the Natividad Medical Center Financial Report for October 31, 2020.
SUMMARY/DISCUSSION:
The average daily inpatient census (ADC) for the month of October 31, 2020 was 118.3 as compared to a budget of 112.0. NICU, PEDs and Acute Rehab patient days were below budget while Med/Surg, ICU, OB/GYN and Mental Health were higher than budget for the month. Adjusted patient days (including both inpatient and outpatient volumes) totaled 5,073 compared to budget of 5,015 a favorable variance of 1.2%.
Actual net income for the month was $3.1 million compared to a budget net income of $0.9 million. Net patient revenues totaled $23.3 million compared to a budget of $22.5 million. Net patient revenues were higher than budget by 3.5% due to payer mix volumes. Revenues from Government Funding were higher than budget by $2.5 million with additional funding from CARES Act/Families First of $1.1 million and final settlement after audit for state DSH FY 2010 of $1.4 million.
Operating expenses for the month were $28.5 million compared to a budget of $27.2 million. Unfavorable operating expense variances were noted in the areas of registry for nurses of $1.3 million, Purchased Services of $396,000, Supplies of $757,000. Cost per adjusted patient day was higher than budget by $182.00 or 3.4%. Net revenue per adjusted patient day was higher than budget by $106 or 2.4%.
The average daily inpatient census (ADC) year-to-date as of October 31, 2020 was 124.2 as compared to budget of 112.0. PEDs and Acute Rehab patient days were below the budget, while Med/Surg, NICU, ICU, OB/GYN and Mental Health were higher than budget year-to-date. Adjusted patient days (including both inpatient and outpatient volumes) totaled 20,687 compared to budget of 19,898, a favorable variance of 4.0%.
Actual net income year-to-date was $6.3 mill...
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