Title
Receive Natividad Medical Center’s Financial Report for the second quarter (October thru December 2024) of fiscal year 2025.
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors' Budget Committee receive Natividad Medical Center’s Financial Report for the second quarter (October thru December 2024) of fiscal year 2025.
SUMMARY/DISCUSSION:
The average daily inpatient census (ADC) for the quarter was 123.0 compared to budget of 128.6. Med/Surg, OBGYN and PSY patient days were below budget for this period, while ICU, NICU, OBGYN, PEDS and ARU census were higher than budget. Patient days for the quarter were 4.4% lower than budget due to decreased patients in the quarter. The average adjusted patient days (including both inpatient and outpatient volumes) were 17,057 compared to budget of 17,550 which was unfavorable by 2.8%. Emergency Department visits were lower than budget by 4.0% for the quarter.
Total net margin for the quarter was negative (revenues less than expenses) at $353 thousand compared to the budget net margin of $400 thousand due to lower census and less than favorable payor mix.
Net patient revenues totaled $79.5 million for the quarter compared to budget of $78.9 million. Net patient revenues were slightly higher than budget by 0.7% due to favorable outpatient revenues. Revenues from Government Funding of $23.6 million were on budget. The other operating revenues were $1.8 million or 57.2% higher than budget due mainly to higher interest rates and quality incentive compensation received from Central California Alliance Health for the quarter. Interest income was higher than budget by $1.1 million for the quarter. Rent income were slightly higher than budget. Operating expenses for the quarter were $108.4 million compared to budget of $105.3 million or increase of 3.0%. The increase in costs were related to volume of patients, continued usage of nurse travelers to back fill for sick employees especially in Labor, I...
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