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University of Illinois Medical Center. Financial Performance FY03 Budget FY04. September 11, 2003. Operating Income (Millions). Bottom Line – Excess Revenues over Expenses (Millions).

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University of illinois medical center

University of Illinois Medical Center

Financial Performance FY03

Budget FY04

September 11, 2003


Operating income millions
Operating Income(Millions)



Fiscal Year-End Days in Accounts Receivable2002 Midwest Average (Blue line), 2002 Urban Average (Black line)

Source: Hara Report



Cash collected 000s average monthly cash collected bars
Cash Collected (000s)Average Monthly Cash Collected (Bars)


Discharges discharges bars trend black line
DischargesDischarges (Bars) Trend (Black Line)


Patient days patient days bars trend black line
Patient DaysPatient Days (Bars) Trend (Black Line)


Outpatient visits outpatient visits bars trend black line
Outpatient Visits Outpatient Visits (Bars) Trend (Black Line)


Ftes and ftes per adjusted occupied bed ftes adj bars ftes aob blue diamonds trend black line
FTEs and FTEs per Adjusted Occupied Bed FTEs (adj) (Bars), FTEs/AOB (Blue Diamonds), Trend (Black Line)


Total SalaryTotal Salary per Adjusted Patient Day (Bars) UHC Best Quartile (Dashed Line) MCGs 15 Best Quartile (Blue Line)

UHC-University HealthSystem Consortium benchmark, MCG 15-Master Compare Group HBSI benchmark


Salary per fte salary per fte bars uhc best quartile dashed line mcgs 15 best quartile blue line
Salary per FTESalary per FTE (Bars) UHC Best Quartile (Dashed Line) MCGs 15 Best Quartile (Blue Line)

UHC-University HealthSystem Consortium benchmark, MCG 15-Master Compare Group HBSI benchmark


Nurse agency 000s nurse agency per fy bars
Nurse Agency(000s) Nurse Agency $ per FY (Bars)


Supply CostSupply Cost per Adjusted Patient Day (Bars) UHC Best Quartile (Dashed Line) MCGs 15 Best Quartile (Blue Line)

UHC-University HealthSystem Consortium benchmark, MCG 15-Master Compare Group HBSI benchmark


CostCost per Adjusted Patient Day (Bars) UHC Best Quartile (Dashed Line) MCGs 15 Best Quartile (Blue Line)

UHC-University HealthSystem Consortium benchmark, MCG 15-Master Compare Group HBSI benchmark


Summary of results
Summary of Results

  • Increased volume

  • Increased net revenue

  • Cost increases


Budget targets for fy04
Budget Targets for FY04

  • Positive operating margin

  • Improve cash position

  • Fund critical infrastructure needs


Key elements of budget volume and revenue
Key Elements of Budget(Volume and Revenue)

  • Inpatient volume - flat

  • Outpatient volume increase 1.5%

  • Charge rate increase 5%

  • Medicaid increase 5%

  • State appropriation unchanged

  • Improved manage care

  • Continue revenue cycle improvement

  • Convert 5 Psych Research beds to inpatient Psych beds


Key elements of budget expense
Key Elements of Budget(Expense)

  • 3% salary increase plus contractual requirements

  • 4.6% supply increase

  • Bad debt increase from FY03 (3.8% vs. 3.1%) but below FY02 of 5.2% (MCHC first quarter 2003 average 4.2%)


Expense control initiatives
Expense Control Initiatives

  • Supply chain

  • Operating Room supplies and equipment

  • Overtime

  • FTE creep

  • Pay structure


Key elements of cash goal
Key Elements of Cash Goal

  • Profitability

  • Reduce A/R days

  • Reduce inventory

  • Control capital spending


Environment
Environment

  • NMH: New women’s hospital

  • Stroger Cook County Hospital: new facility

  • Rush: Major building program

  • WSVA: New hospital planned

  • Michael Reese Hospital: may emerge from bankruptcy

  • Mercy Hospital: $50 million cash infusion

  • Medicare/Medicaid: continuing budget pressure

  • Commercial insurers: employers pushing back on large premium increases


Summary
Summary

Important Factors

  • Maintain volume

  • Control expenses

    • Supplies

    • Salaries

  • Improve revenue cycle

  • Large unmet capital needs



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