Title
Receive the Natividad Medical Center Financial Report for June 30, 2018.
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors' Budget Committee receive the Natividad Medical Center Financial Report for June 30, 2018.
SUMMARY/DISCUSSION:
The Board of Supervisors' Budget Committee has charged NMC Administration to report monthly on the financial status of the institution.
The average daily inpatient census (ADC) for the month of June 30, 2018 was 108.9 as compared to a budget of 104.9. PEDS and OB/GYN patient days were below the budget for the month, while NICU, Medical/Surgical, ICU, Acute Rehab and Mental Health were higher than budget for the month. Adjusted patient days (including both inpatient and outpatient volumes) totaled 4,607 compared to budget of 4,469, a favorable variance of 3.1%. Emergency Department was higher than budget by 11.2%.
Actual net income for the month was $5.8 million compared to a budgeted net income of $0.8 million. Net patient revenues totaled $22.1 million compared to a budget of $18.9 million. Net revenues exceeded budget by 16.9% from improved payer mix. Revenues from Government Funding totaled $6.0 million compared to a budget of $3.6 million as a result of AB915 and SB1732 exceeding estimates. Other operating revenue totaled $1.2 million compared to a budget of $0.6 million. Operating expenses for the month were $23.4 million compared to a budget of $22.3 million. Unfavorable operating expense variances were noted in the areas of Salaries, Wages & Benefits of $534,493, Registry of $112,970, Physician Expense of $362,661, Purchase Services of $279,372, Insurance of $16,219 and Other Operating Expenses of $28,906. Cost per adjusted patient day was higher than budget by $98 or 2.0%. Net patient revenue per adjusted patient day was higher than budget by $567 or 13.4%.
The average daily inpatient census (ADC) for the year-to-date ended June 30, 2018 was 111.8 compared to a budget of 104.9. PEDS, OB...
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