Jason 416k Case

Preliminary Operating Results – In June, NLHA generated a loss from consolidated operations of $416k compared to a budgeted gain of $486k. Our year-to-date (YTD) operating gain was $52k compared to a budgeted loss of $403k, resulting in a positive variance of nearly $454k. These results are still preliminary, as staff awaits feedback from BDMP consulting regarding the results of our Medicare Cost
Report modeling and estimate of FY15’s MET. June’s non-operating revenue was $415k compared to a budget of $83k, resulting in a positive variance of $332k. YTD contributions ended the fiscal year $677k over budget.
Net Gain – The combination of the YTD operating gain and the non-operating gain produced a net gain of $4M compared to a budgeted gain of $599k, however $2.1M of this gain was related to the investment conversion and was offset by the comparable amount in unrealized gains.
That brought our YTD gross revenue for FY 15 to over $6.6M above budget. Hospital departments with the largest positive variances to budget for June included Radiology at $412k, Cardiology at $168k and the Lab at $136k over budget for the month. The NLH Medical Groups’ (Physician Practices’) June gross revenue was $61k over budget, led by Orthopedics, Women’s Health and General Surgery. The Clough Center’s gross revenue was $78k under budget, due to the average daily census being approximately 6.2 below