Title
Receive Natividad Medical Center's Financial Report for the second quarter (October thru December 2020) of fiscal year 2020-21.
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 2020) of fiscal year 2020-21.
SUMMARY/DISCUSSION:
The average daily inpatient census (ADC) for the quarter was 129.0 compared to budget of 112.0. NICU, PEDs, and Acute Rehabilitation patient days were below budget, while Med/Surg, ICU, and Mental Health were higher than budget. Patient days for the quarter were 13.9% higher than budget due to the significant surge of COVID-19 patients. The ADC for COVID-treated patients during the first quarter was 15.6. The ADC for COVID-treated patients was 24.0 for the second quarter. In December, the ADC for COVID-treated patients was 47.0. The average adjusted patient days (including both inpatient and outpatient volumes) were 15,872 compared to budget of 15,045 which was favorable by 5.5%. Emergency Department visits were significantly lower than budget by 26.1% for the quarter.
Total net margin for the quarter was positive (revenues higher than expenses) by $5.8 million compared to the budget net margin of $2.6 million. The continuation of COVID-19 pandemic since mid-March of 2020 impacted outpatient revenues caused by suspension of appointments to specialty and primary care clinics, lower volume coming to the emergency department for non-COVID related services, reduction and cancellation of non-emergency elective cases and decreased volume for outpatient services. Outpatient revenue was 12.6% under budget for the second quarter and 0.5% less than the last quarter.
Net patient revenues totaled $73.1 million for the quarter compared to budget of $66.8 million. Net patient revenues were higher than budget by 9.5% despite an unfavorable outpatient revenues. Revenues from Government Funding were $1...
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