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Finance Committee April 2019

This report provides an overview of the financial performance for February 2019, including revenue, expenses, and forecast for the fiscal year.

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Finance Committee April 2019

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  1. Finance Committee April 2019

  2. February 2019 Financial Report AGENDA February Highlights Forecast – FY 19 Forecast – 12 month rolling

  3. Inpatient activity continues to be strong. Outpatient under budget. • Acute days 10.1% > budget in FEB; 5.7% > budget YTD; 4.1% > PY. • ALOS > budget 5.7% YTD. • Post Acute days > budget 1.2% in FEB; 0.8% > budget YTD; 2.3% > PY. • Clinic Visits 8.7% < budget in FEB; 4.8% < budget YTD; 1.6% < PY. • ER visits 12.2% < budget in FEB; 8.1% < budget YTD; 2.7% < PY. • Physician wRVU’s 4.0% > budget in FEB; 5.2% > budget YTD; 10.7% > PY. February 2019 Financial Report Volume Highlights

  4. NPSR under budget by $1.9 million. YTD still looking at $27-29 million annual shortfall. • Supplemental Revenue $0.9 million above budget. • Expenses over budget by $2.2 million. • Operating Income $3.2 million under budget in FEB. • EBIDA under budget by 3.7% in FEB and 0.5% under budget YTD. • Net Income $5.4 million over budget YTD due to long term portion of Pension Expense. February 2019 Financial Report Highlights

  5. Gross Patient Service Revenue < budget in FEB. • NPSR 3.0% above prior year. • Supplemental revenue > budget – mainly due to an adjustment in parcel tax revenue. • NPSR Collection % is 0.3% less than PY – mainly due to charge increase of 2.4% February 2019 Financial Report Revenue Highlights

  6. FTEs < budget by 205 FTEs or 4.6% in FEB and YTD 208 FTEs under or 4.7%. • Labor expense, excluding benefits, were at budget in FEB and $11 million > YTD • FTE per Adj Occ Bed < budget in FEB, YTD, and prior year. • Worked Hours per APD < budget by 1.7% in FEB and under budget YTD and PY • YTD Operating Expense 2.2% < budget and 1.2% > prior year. February 2019 Financial Report Expense Highlights

  7. Below are the key Balance Sheet metrics and the forecast for the Line of Credit. February 2019 Financial Report Balance Sheet and Line of Credit

  8. February 2019 Financial Report Reserves

  9. February 2019 Financial Report Cash Collections

  10. February 2019 Financial Report FY 19 Year End Forecast Assumptions Original amounts based on FY19 budget. Gross IP revenues increased 2% monthly based on increased days from ED virtual bed implementation. Gross Physician revenues increased by 6% monthly. NPSR Collection % adjusted for budget shortfall and virtual beds. Adj. to Waiver and Supplemental Revenues based on interim review. Salary savings applied at 2.4% for normal vacancies, reduced OT, benchmarking and not filling overhead positions based on YTD. Benefits adjusted for salary change and lower Workers’ Comp. Purchased Services reduced additional $2 million from budget. Pharmaceuticals projected at budget next 6 months. Supplies and Repairs/Maintenance/Utilities expected to be at budget for next 4 months. Other/Admin and General reduced additional $1 million from budget.

  11. February 2019 Financial Report FY 19 Year End Forecast

  12. February 19 Actuals plus FY 19 projections. • Jul 18– Jan 19 actuals = start point for Jul 19 – Jan 20 • FY 20 Gross Patient Service Revenue and Contractuals increased 2% for 2.2% NPSR increase. • OP and MD volume reductions of 2% in Sep and 10% in Oct for EPIC go-live • Supplemental Waiver Revenues decreased to 90% of amounts per Waiver, lower amounts for both GPP and Prime ($21 million < FY 19 budget). • Mcal GME projected at last estimate if approved ($10 mill < FY 19 budget). • Measure A increased at 2%, AHD tax at pre election level. • Capitation HPAC increased 1%. • Salaries increased 3.5%. Includes $5mil EPIC training in Aug and Sep plus additional Go-Live support of $4.6 mill and $1.2 mil in Oct and Nov • 84 EPIC system staff capitalized until Jan 2020 • Purchased service cost increased $140K Jul/Aug and $375K forward for EPIC expense. • Pharmaceuticals increased 4.28%. • Supplies increased 3.5%. • Outside Medical Services, Depreciation at budget amounts. • Does not assume any budgetary cuts or changes in services. February 2019 Financial Report 12 Month Rolling Projection Assumptions

  13. February 2019 Financial Report 12 Month Rolling Projection

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