Title
Receive the Natividad Medical Center Financial Report for December 31, 2018
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors' Budget Committee receive the Natividad Medical Center Financial Report for December 31, 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 December 31, 2018 was 106.0 as compared to a budget of 110.4. Medical/Surgical, ICU, OB/GYN and Mental Health patient days were below the budget for the month, while NICU, PEDS and Acute Rehab were higher than budget for the month. Adjusted patient days (including both inpatient and outpatient volumes) totaled 4,656 compared to budget of 4,860, an unfavorable variance of 4.2%. Emergency Department was below budget by 2.1%.
Actual net income for the month was $0.5 million compared to a budgeted net income of $1.2 million. Net patient revenues totaled $19.4 million compared to a budget of $20.0 million. Net patient revenues were lower than budget by 3.0% due to below budget volumes and an unfavorable payer mix. Revenues from Government Funding totaled $4.7 million compared to a budget of $4.5 million. Other operating revenue totaled $0.5 million compared to a budget of $0.5 million. Operating expenses for the month were $24.5 million compared to a budget of $23.8 million. Unfavorable operating expense variances were noted in the areas of Salaries, Wages & Benefits of $880,762, Registry of $201,070, Physicians of $40,097, Insurance of $5,872, and Depreciation of $60,132. Cost per adjusted patient day was higher than budget by $370 or 7.5%. Net revenue per adjusted patient day was higher than budget by $134 or 2.6%.
The average daily inpatient census (ADC) for the year-to-date ending December 31, 2018 was 109.3 as compared to a budget of 110.4. Medical/Surgical, Acute Rehab and OB/GYN patient days were b...
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