Title
Receive the Natividad Medical Center Financial Report for February 28, 2019.
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors' Budget Committee receive the Natividad Medical Center Financial Report for February 28, 2019.
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 February 28, 2019 was 118.0 as compared to a budget of 110.4. Medical/Surgical patient days were below the budget for the month, while NICU, ICU, PEDS, Acute Rehab, OB/GYN and Mental Health were higher than budget for the month. Adjusted patient days (including both inpatient and outpatient volumes) totaled 4,769 compared to budget of 4,393, a favorable variance of 8.6%. Emergency Department was higher than budget by 25.9%.
Actual net income for the month was $0.6 million compared to a budgeted net income of $1.2 million. Net patient revenues totaled $20.3 million compared to a budget of $20.0 million. Net patient revenues were higher than budget by 1.4% due to an improved payer mix. Revenues from Government Funding totaled $4.4 million compared to a budget of $4.5 million. Other operating revenue totaled $0.6 million compared to a budget of $0.5 million. Operating expenses for the month were $24.7 million compared to a budget of $23.8 million. Unfavorable operating expense variances were noted in the areas of Salaries, Wages & Benefits of $674,256, Registry of $180,309, Physicians of $132,000, Insurance of $5,872, and Depreciation of $91,499. Cost per adjusted patient day was lower than budget by $250 or 4.6%. Net revenue per adjusted patient day was lower than budget by $405 or 7.1%.
The average daily inpatient census (ADC) for the year-to-date ending February 28, 2019 was 110.0 as compared to a budget of 110.4. Medical/Surgical and OB/GYN patient days were below the budget year-to-date, while NIC...
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