New London Hospital Case Study

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For the month of October 2017, The New London Hospital Association, Inc. generated a consolidated loss from operations of $112k compared to a budgeted gain of $152k. Year-to-date the consolidated loss from operations was $833k compared to a budgeted loss of $287k. Non-operating revenue was $191k compared to a budget of $83k, resulting in a positive variance of $108k.

Gross Revenue –The fourth month of FY 18 had the strongest revenue year to date at just over $10 million. Although the Hospital had its best month in FY 18, with gross revenue at $8.2 million, it tracked behind budget by $369k. Hospital departments that were over budget in October included Rehab $99k, Oncology $86k, Lab $72k, Radiology $62k and OR $48k over budget. Hospital departments that had softer volumes and revenue below budget included Ambulance ($184k), Med Surg ($173k), ER ($134k) and SCU ($126k). The Medical Group also had its best month of FY 18, with gross revenue at $1.8 million. Within the Medical Group, departments with favorable to budget variances included General Surgery $56k, NLH Orthopedics $51k, Pediatrics $39k over budget. Under budget performance for the Medical Group occurred in New London Primary Care ($77k), DH Ortho Group ($34k) and NHC ($32k). Deductions from …show more content…
Operating expenses were over budget $112k for the month, primarily due to overages in our self-insured health insurance. Salary expenses were $29k under budget for the month and $82k under YTD. Benefits were $101k over budget for the month due to the addition of several high cost claimants under our self-insured plan. Purchased Services were $55k over budget for the month and $104k over YTD as staff recruitment in several key areas remains challenging. Chargeable supplies were $46k over budget largely due to higher volumes in Orthopedic Surgeries. The Medicaid Enhancement Tax was on
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