Title
Receive the Natividad Medical Center Financial Report for June 30, 2016
Report
RECOMMENDATION:
It is recommended that the Monterey County Board of Supervisors' Budget Committee receive the Natividad Medical Center Financial Report for June 30, 2016.
SUMMARY:
The Monterey County Board of Supervisors Budget Committee has charged NMC Administration to report monthly on the financial status of the institution.
For the month ended June 30, 2016 the average daily inpatient census (ADC) was 104.5 compared to a budget of 102. NICU, Pediatrics, Acute Rehabilitation, ICU, and OB/GYN patient days were below the budget for the month, while Mental Health and Medical/Surgical were higher than budget for the month. Adjusted patient days (including both inpatient and outpatient volumes) totaled 4,651 compared to budget of 4,655, a favorable variance of 7.4%. Emergency Department visits were higher than budget by 3.6%.
Actual net income for the month was $8,474,000 compared to a budget net income of $211,000. Net patient revenues totaled $25.8 million compared to a budget of $14.7 million. The increase in net revenues by 75.1% resulted from increased census/volume. In addition, the percentage of patients with private or no insurance improved over the last second half of the fiscal year. While the average per day census for the second half of the year was higher than the first half (105.7 v 103.8), patients with no insurance decreased by $1.1 million per month in the second half of the year. The change in payer mix during the fiscal year resulted in a positive adjustment of approximately $8.0 million for the year. Revenues from Government funding totaled $2.8 million compared to a budget of $3.1 million. Other operating revenue totaled $0.5 million compared to a budget of $0.4 million. Operating expenses for the month were $20.7 million compared to a budget of $18.0 million. Unfavorable operating expense variances were noted in the areas of Salaries, Wages, & ...
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