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Financial Summary April 30, 2014

Financial Summary April 30, 2014. Bob Baden Chief Financial Officer. Statistical Summary April 30, 2014. Curr YTD Budget Average Daily Census 24.7 23.9 23.0 Occupancy % 41% 40% 39% Discharges 191 196 199

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Financial Summary April 30, 2014

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  1. Financial SummaryApril 30, 2014 Bob Baden Chief Financial Officer

  2. Statistical SummaryApril 30, 2014 CurrYTDBudget • Average Daily Census 24.7 23.9 23.0 • Occupancy % 41% 40% 39% • Discharges 191 196 199 • ALOS (MC/Total) 4.39/3.87 4.34/3.71 4.56/3.65 • CCC Avg Daily Census 103 101 103 • # Surgeries 211 197 214 • # Endoscopies 153 164 125 • # Deliveries 24 38 39 • # ER Visits 1,760 1,720 1,782 • # Outpatient Visits 3,772 3,470 3,415

  3. Acute P&LPre-Audit April 30, 2014

  4. CCC P&L Pre-Audit April 30, 2014

  5. Consolidated P&L Pre-Audit April 30, 2014

  6. Balance Sheet Pre-Audit April 30, 2014 ASSETS CurrentPreviousChange Current Assets $ 40,459,953 $39,297,930 $ 1,162,023 Assets whose use is limited $ 5,552,317 $ 5,572,053 $ (19,736) Net property value $103,275,757$103,120,277$ 155,480 Total Assets $149,288,027 $147,990,260 $ 1,297,767

  7. Balance SheetPre-Audit April 30, 2014 Liabilities & Fund Balances CurrentPreviousChange Current liabilities $ 12,330,936 $ 12,798,989 $ (468,053) Long term liabilities $102,827,379 $101,233,490 $ 1,593,889 Fund balances $ 34,129,712$ 33,957,781$ 171,931 Total liabilities & fund bal $ 149,288,027 $147,990,260 $ 1,297,767

  8. Summary April 2014 April’s Inpatient Discharges decreased by 14% compared to March and fell short of budget by 4%. Inpatient Average Daily Census decreased slightly for same period to 24.7 and was 7% above budget. ALOS in April was 6% below budget. Outpatient activity at 3,772 visits was 5% above March and 10% above budget. The CCC average daily census rose to 103 in April and increased 102 from March. Surgery cases at 211 declined by 9 compared to March and were 1% below budget. Endoscopy procedures at 153 were 22% above budget. LVMC had only 24 newborn deliveries in April or 38% below budget. ER visits totaled 1,760 (22 visits or 1% below budget). April Pre-Audit Acute Financials show that Gross Revenue at $9.5M was above budget by nearly $1.4M or 17%. Inpatient Gross Revenue was $231K above budget and Outpatient Gross Revenue was $1.13 M above budget. Outpatient volume increases made our Contractual Discounts much higher causing our Net Patient Revenue to be low but above budget by $240K. Government programs are the poorest outpatient payers and this month was no exception, as can be seen by the overages in Medicare and MediCal.

  9. Summary April 2014 • While discounts were high because of volume, the outpatient mix made them worse. Last month we thought Medicare discounts were higher than they should be by $200K, but after further analysis this did not prove to be the case. • Total Operating Expenses of nearly $4.3M were above budget by 10% or $382K. Total Salary costs exceeded budget by $87K or 6%, ($86K in Nursing and a few other departments). Registry Costs were over $76K with all Nursing depts. but OR. Physicians & Therapists (Contract Labor) was over by $17K in MRI, PT and HIM. Supply costs were over 19% due to high cost surgery items and Lab Supplies. Purchased service costs were $52K over due to IS R&M $20K, Admin $8K with the remainder spread out in smaller amounts. Other expenses over was for IGT costs. • The Operating Margin loss for April was $71K due to large deductions from revenue caused by high volume, heavier outpatient mix and the operating expenses over budget. The bottom line loss was $30K. Year to date the operating margin is $131K positive and the bottom line is $575K positive. • The CCC Gross Revenues of $1.3M were $52K or 4% above budget caused by hitting the average daily census budget. Deductions of $56K were $21K over budget. Net Patient Revenue was $31K above budget. Operating Expenses exceeded budget by $108K or 11.5%. Salary costs were $94K or 17% over budget with $57K in SNU, $15K in Rehab and $10K in Admin. Supplies were $30K over budget largely due to Pharmaceuticals $10.8K, dietary $9.8K, SNU $3.8 and minor equipment $1.2K. Purchased services over $$9K due primarily to plant maintenance costs. The gain from operations and bottom line gain for April was $201K and $1,151K positive on a year to date basis.

  10. Summary April 2014 • The Consolidated Operating Margin results posted a $130K gain and a gain of $172K at the Increase (decrease) in Net Assets line in April, while year-to-date numbers were $1.282 positive operating margin and $1.7M positive Net Asset increase. • Total Assets and Liabilities and Fund Balance increased by $1.298M as of April 30, 2014. • Total Current Assets increased by $1.162M due to a $1.0M increase in Cash and cash equivalents to receipt of Property Tax funds and Government Settlement funds from prior year’s Cost Reports. Assets whose use is limited in the Current Assets section declined by $1.256M due to funds spent on the CDRH project and Property tax funds received at SB County for the GO Bonds of more than $5.5M. Total Net Property, Plant and Equipment increased by $686K due to an increase in CIP of $660Kfor the CDRH project, Kitchen and Laundry offset by depreciation for the month of $530K. • Total Current Liabilities decreased by $468K due primarily to $138 payment on current notes payable, a reduction due to payments made of $615K in payables on CDRH, a $300k reduction in accrued payroll related liabilities offset by a $418K increase in trade payables and an increase in Accrued interest on the 1998 bonds. The increase in Total Liabilities as of April 30 of $1.594M is related to tax funds at the County for the GO Bonds. The fund balance increased by $172K due to the consolidated increase in net assets recorded for April 2014.

  11. Other Finance ItemsApril 2014 Other Finance Items: • There was $18K in Medicare RAC take backs in April. No MAC activity in April. • A formal commitment letter was sent May 15th to CenCal Health and the State regarding the FY’13 IGT. We should see funding happening in the next couple of months. • Health Net discussions will start very soon. CDRH health plan negotiations remain delayed due to health plans not wanting to negotiate until licensing and accreditation are in place. • FY’15 Budget process is delayed due to staffing and system issues. Our target is to be ready for the June meetings. • QudraMed staff helped us prepare Affinity for the CDRH billing process and E Premis will assist us in setting up the actual claims process. • Our QudraMed Contract Mgt system failed in early April. Data has been loaded into the new system and is being tested before going live.

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