Robert Wood Johnson University. Hospital Hamilton

Transcription

1 Robert Wood Johnson University Hospital Hamilton FINANCIAL STATEMENTS September 30, 2015

2 ROBERT WOOD JOHNSON UNIVERSITY HOSPITAL AT HAMILTON Balance Sheet September 30, 2015; August 31, 2015; December 31, 2014 (OOWs) Assets Sep 30, 2015 Aug 31, 2015 Dec 31, 2014 Liabilities and Net Assets Sep 30, 2015 Aug 31, 2015 Dec 31, 2014 Current assets Cash and investments Assets whose use is limited (cur.) Patient accounts receivable Less allow, for doubtful accts. Net pat. accts. Rec. Other accounts receivable Inventories Prepaid expenses Other assets Total current assets $ 47,700 $ 1,603 24,856 7,391 17,465 46,993 $ 53,482 1,069 2,584 24,237 7,468 16,769 22, ,811 1, ,577 3,575 3,572 2,070 2,213 2,205 1,779 1,780 2,000 75,227 73,109 81,370 Current liabilities Accounts payable Accrued expenses Patient credit balances Current portion of long-term debt Current portion of OIG Accrued interest payable Est. amounts due to payers (cur.) Total current liabilities Other liabilities Est. amts. due to payers Other long-term liabilities Total other liablities $ 12,719 $ 11,561 $ 18,429 8,049 7,775 10, ,825 3,825 2,485 1,681 1,351 2,448 5,498 4,924 3,706 32,661 30,333 38,754 1,297 1,297 1,295 5,903 5,903 5,512 7,200 7,200 6,807 Advances to affiliates 26,593 26,360 22,657 Due to affiliates 8,666 8,508 8,350 Noncurrent assets whose use is limited Held by Captive Insurance Fund Under bond indenture agreement Total assets-use limited Less current portion Noncur. assets-use limited Property~ plant and equipment Property, plant and equipment Less accumulated depreciation Net property, pit. & equip. 6,715 6,624 5,714 9,491 8,864 10,672 16,206 15,488 16,386 1,603 1,069 2,584 14,603 14,419 13, , , , , , ,128 93,781 93,849 96,296 Long-term debt~ excluding current OIG Settlement Bonds payable Series 2002 Bonds payable Series 2005 Bonds payable Series 2013 Leases payable Loan payable - NB Total long-term debt Net of unamortized premium/discount Net long-term debt Total liabilities 19,845 19,845 20,955 54,085 54,085 54,085 21,732 21,732 24,447 27,524 27,347 25, , , ,586 1,179 1,186 1, , , , , , ,745 Other assets Deferred financing costs Total other assets 2,313 2,356 2,233 2,313 2,356 2,233 Net Assets Unrestricted Temporarily restricted Total net assets 38,040 38,271 34,808 1,585 1,586 1,805 39,625 39,857 36,613 Total assets $ 212,517 $ 210,093 $ 216,358 Total liabilities & net assets $ 212,517 $ 210,093 $ 216,358 CB

3 ROBERT WOOD JOHNSON UNIVERSITY HOSPITAL AT HAMILTON Statements of Revenues and Expenses For the Period Ended September 30, 2015 (000 s) Revenue Actual Month to Date Year to Date YTD /2014 Budget Variance Actual Budget Variance Actual Variance 2015 Annual Budget Patient service revenue (net of allowances) 15,430 14, , ,110 7, ,094 7~ ,813 Provision for Bad Debt ,410 5, , ,138 Net Patient Service revenue less bad debt 14,864 14, , ,666 7, ,503 7, ,675 Other operating revenue (41) 3,387 4,322 (935) 4,295 (908) 4,750 Total revenue 15,306 14, , ,988 6, ,798 6, ,425 Expenses Salaries and wages Employee fringe benefits Physician fees Supplies and other expenses Utilities expenses Insurance expense Interest Depreciation and amortization Total expenses 5,859 5,638 (221) 1,233 1,228 (5) (81) 6,165 5,632 (533) (6) (63) 15,543 14,693 (850) 52,409 52, ,826 12, ,775 6, ,922 52,158 (Z764) 2,683 2,632 (51) 1,582 1, ,320 3, ,133 5,949 (184) 138, ,249 (1,401) 59,631 7,222 16,029 4,203 5, ,269 (4,653) 2,615 (68) 2, ,289 (31) 6, ,072 7,422 82,272 17,919 7,472 67,300 3,485 2,640 4,777 8, ,190 Excess of revenues over expenses $ (237) $ 67 $ (304) $ 3,005 $ (2,261) $ 5,266 5 (11,274) $ 14,279 4,235 Settlement Meaningful Use Excess of revenues over expenses $ (237) 67 $ (304) S 3,005 (2,261) $ 5,266 5 (11,274) S 14, ,235 Other changes in unrestricted net assets: Change in unrealized gain or (loss) on non-trading investments Net assets released from restriction Equity transfer from affiliate Increase in unrestricted net assets Net assets - unrestricted beginning Net assets - temporarily restricted beginning Net assets - lnci(dec) in temporarily restricted Net assets - ending 6 $ (231) 38,271 1,586 (1) $ 39, $ 3,232 34,808 1,805 (220) $ 39, $ (11,048) 48,643 1,777 (109) $ 39,263 CB 2

4 RWJ Healthcare Corp. at Hamilton Obligated Group Balance Sheet September 30, 2015 (000s) Assets Hospital Parent Med Assoc Combined September-15 September-IS September-15 September-15 Liabilities and Net Assets Hospital Parent Med Assoc Combined September-15 September-IS September-15 September-15 Current assets Cash and cash equivalents Assets whose use is limited (cur.) Patient accounts receivable Less allow, for doubtful accts. Net pat. accts. Rec. Net patient accts. receivable - OB Other accounts receivable Inventories Prepaid expenses Other assets Total current assets $ 47,700 1,603 24,856 7,391 17,465 $ 2 $ 287 $47,989 1, , , , ,033 1,033 3,577 3,577 2, ,148 1, ,826 75, ,017 Current liabilities Accounts payable Accrued expenses Patient credit balances Current portion of long-term debt Current portion of OIG Accrued interest payable Est amounts due to payers (Cur.) Total current liabilities Other liabilities Est amts. due to payers Other long-term liabilities Total other liablities $ 12,719 8, ,825 1,681 5,498 32,661 $ , , , ,681 5,498 33,108 1,297 1,297 5,903 5,903 7,200 7,200 Advances to affiliates 26,593 1,472 28,065 Due to affiliates 8, ,445 30,111 Noncurrent Assets whose use is limited Under bond indenture agreement Under bond indenture agreement Total assets-use limited Less current portion Noncur. assets-use limited Property~ plant and equipment Property, plant and equipment Less accumulated depreciation Net property, pit. & equip. 6,715 6,715 9,491 9,491 16,206 16,206 1,603 1,603 14,603 14, , , , ,451 93, ,155 Long-term debt, excluding current OIG Settlement Bonds payable Series 2002 Bonds payable Series 2005 Bonds payable Series 2013 Leases Payable Loan Payable - NB Total long-term debt Less unamort. bond disc. Net long-term debt Total liabilities 0 19,845 54,085 21, , ,186 1, , , ,892 19,845 54,085 21,732 27, ,186 1, , ,784 Other assets Other assets Deferred financing costs Investment in Affiliates Total other assets 0 0 2,313 2,313 1,392 1,392 2,313 1, ,705 Net assets Unrestricted Temporarily restricted 38,040 1,585 2,866 (20,730) 20,176 1,585 Total assets $212,517 $2,866 1, ,545 Total liabilities & net assets $212,517 $2,866 $1,162 $216,545

5 RWJ Healthcare Corp. at Hamilton Obligated Group Statements of Revenues and Expenses For the period Ended September 30, 2015 and 2014 (000 s) Revenue Inpatient Same day surgery Emergency Other outpatient Total revenue Deductions from revenue Contractual allowances Other deductions Total deductions from revenue Patient service revenue( net of allowances) Provision for Bad Debt Net Patient Service revenue less bad debt Other operating revenue Total revenue Expenses Salaries and wages Employee fringe benefits Physician fees Supplies and other expenses Utilities expenses Insurance expense Interest Depreciation and amortization Total expenses (Deficiency) excess of revenue over expense Hospital Parent Medical Assoc $538,359 71, , , , ,359 71,159 6, , ,360-6, , Combined Combined 342,531 45,052 94, , , , , ,851 13,800 3,115 16,915 23, ,881-3, , , ,678-3, ,134 94,253 5,410-5,410 3, ,268-3, ,724 90,447 3, ,136 2, , , ,860 93,288 52,409 3,674 56,083 43,309 11, ,438 10,831 5, ,135 3,906 54,922-2,313 57,235 34,414 2, ,716 1,784 1, ,931 1,901 3,320-3,320 2,208 6, ,172 4, ,650-7, , ,541 3, (3,477) (170) (9,253) Settlement - Meaningful Use - Excess of revenues over expenses (before refunding) $ 3,005 $ $ (3.371) $ 106 (64) $ 130 (9.123) Loss on Refunding Excess of revenues over expenses (after refunding) Other changes in Unrestricted Net Assets: Change in unrealized gain or (loss) on non-trading investments Net asset transfer from affiliates Net assets released from restriction (Decrease) increase in unrestricted net assets $ 3,005 $ 302 $ (3,371) $ (64) $ (9,123) $ 3,232 $ 302 $ (3,371) $ 163 $ (8,972)

6 RWJ at Hamilton - Siemens Public, Inc Ratios as Series 2013 Bond Insurer September 30, 2015 Obligated 1)Debt Service Coverage Ratio Group Funds Available for Debt Service Excess of revenues over expenses: ($1,533) Interest Expense on Long-term Debt: $4,434 Depreciation and Amortization Expense: Total Funds Availablefor Debt Service: $11,091 Maximum Annual Debt Service Requirements on all Long-term Debt: $8,333 Current Year OIG Maximum Annual Debt Service Requirements on all Long-term Debt: $8,333 Debt Service Coverage Ratio: IRequfred Debt Service Coverage Ratio (no less than): 1.25x Note: Since thin is tested annually, the amounts above reflect a 12 month rolling period 2lDavs Cash on Hand: Cash and Investments Cash and Cash Equivalents: $10,894 Marketable Securities and Liquid Investments: $36,361 Less Face Amount of Short-term Debt: Total Cash and Investments: $47,255 Expenses Operating Expenses: $185,752 Less Depreciation and Amortization Expense: Adjusted Expenses: $177,562 Daily Cash Expense (Adjusted Expenses/number ofdays in Period): $486 Days Cash on Hand: IRequired Days Cash on Hand (no less than): 751 Note: Operating expenses reflect a 12 month rolling period 3)Lon~ Term Debt to Capitalization Ratio (Levera2e Ratio) Lonf-term Indebtedness Long-term Debt: $95,662 Capitalized Leases: Total Long-term Indebtedness: $95,662 Capitalization Subordinated Loan from NB $27,524 Total Unrestricted Net Assets: $20,175 Long-Term Indebtedness: $95,662 Tangible Net Worth: $143,361 Long Term Debt to Capitalization Ratio: ~Required Long Term Debt to Capitalization Ratio (no greater than):.65x 4)Avera~e Payment Period Funds Available for Payment Current Liabilities $33,108 Expenses Operating Expenses: $185,752 Less Depreciation and Amortization Expense: $8,190 Adjusted Expenses: $177,562 Average Payment Period Ratio RequiredAverage Payment Period 80 I

7 RWJ at Hamilton - Radian Asset Assurance/Assured Guaranty Ratios as Series 2005B Bond Insurer Eighth Supplemental Indenture September 30, 2015 Obligated fldebt Service Coverage Ratio Group Funds Available for Debt Service Net Income: ($1,533) Interest Expense on Long-term Debt: $4,434 Depreciation and Amortization Expense: $8,190 Less Realized and Unrealized Gains/Losses on Investments included in Net Income: L$2fl Total Funds Availablefor Debt Service: $11,162 Maximum Annual Debt Service Requirements on all Long-term Debt: $8,333 Current Year OIG Maximum Annual Debt Service Requirements on aillong-terin Debt: $8,333 Debt Service Coverage Ratio: IRequired Debt Service Coverage Ratio (no less than): 1.25X Note: Since this is tested annually, the amounts above reflect a 12 month rolling period 2)Davs Cash on Hand: Cash and Investments Cash and Cash Equivalents: $10,894 Investments: $36,361 Less Face Amount of Short-term Debt: Total Cash and Investments: $47,255 Expenses Operating Expenses: $98,271 Less Depreciation and Amortization Expense: $4,212 Adjusted Expenses: $94,055 Daily Cash Expense (Adjusted Expenses/number ofdays in Period): $520 Days Cash on Hand: IRequired Days Cash on Hand (no less than): 751 Note: Operating Expenses reflect the last six-month period 3)Lon~ Term Debt to Capitalization Ratio (Leverage Ratio) Lon2-term Indebtedness Long-term Debt: $95,662 Capitalized Leases: TotalLong-term Indebtedness: $95,662 Capitalization Subordinated Loan from NB $27,524 Total Unrestricted Net Assets: $20,175 Long-Term Indebtedness: $95,662 Tangible Net Worth: $143,361 Long Term Debt to Capitalization Ratio: RequfredLong Term Debt to Capitalization Ratio (no greater than):.65x 4)Average Payment Period Funds Available for Payment Current Liabilities $33,108 Expenses Operating Expenses: $185,752 Less Depreciation and Amortization Expense: $8,190 Adjusted Expenses: $177,562 Average Payment Period Ratio RequiredAverage Payment Period 801

8 RWJ at Hamilton - NJHCFFA Required Ratios Series 2002 and Series 2005 Loan Agreements September 30, 2015 Obligated 1)Debt Service Coverage Ratio Group Funds Available for Debt Service Net Income: ($1,533) Interest Expense on Long-term Debt: $4,434 Capitalized Interest from Bond Proceeds used during FY to pay interest: $0 Depreciation and Amortization Expense: $8,190 Other Non-Cash Expense (excluding bad debt provision): $0 Less Realized and Unrealized Gains/Losses on Investments included in Net In ($71) Total Funds Availablefor Debt Service: $11,162 Maximum Annual Debt Service Requirements on all Long-term Debt: $8,333 Current Year OIG $0 Maximum Annual Debt Service Requirements on all Long-term Debt: $8,333 Debt Service Coverage Ratio: IRequired Debt Service Coverage Ratio (no less than): 1.25X 2~Cushion Ratio: Cash and Investments Cash and Cash Equivalents: $10,894 Marketable Securities: $36,361 Total Cash and Investments: $47,255 Maximum Annual Debt Service Requirements on all Indebtedness: $8,333 Cushion Ratio: 5.67 IRequired Cushion Ratio (no less than): 1.25X

9 RWJ at Hamilton - TO Bank Ratios as Letter of Credit Bank Amended and Restated Reimbursement Agreement September 30, 2015 Obligated fldebt Service Coverage Ratio Group Funds Available for Debt Service Net Income: ($1,533) Interest Expense on Long-tenn Debt: $4,434 Capitalized Interest from Bond Proceeds used during FY to pay interest: $0 Depreciation and Amortization Expense: $8,190 Other Non-Cash Expense (excluding bad debt provision): Total Funds AvailableforDebt Service: $11,091 Maximum Annual Debt Service Requirements on all Long-term Debt: $8,333 Current Year QIG Maximum Annual Debt Service Requirements on all Long-term Debt: $8,333 Debt Service Coverage Ratio: IRequired Debt Service Coverage Ratio (no less than): 1.25x Note: Since this is tested annually, the amounts above reflect a 12 month rolling period 2)Days Cash on Hand: Cash and Investments Cash and Cash Equivalents: $10,894 Marketable Securities: $36,361 Less Face Amount of Short-term Debt: Total Cash and Investments: $47,255 Exj,enses Operating Expenses: $98,271 Less Depreciation and Amortization Expense: $4212 Adjusted Expenses: $94,055 Daily Cash Expense (Adjusted Expenses/number ofdays in Period): $520 Days Cash on Hand: RequiredDays Cash on Hand (no less than): -s Note: Operating Expenses reflect the Inst six-month period 3)Lon~ Term Debt to Capitalization Ratio (Leverage Ratio~ Long-term Indebtedness Long-term Debt: $95,662 Capitalized Leases: Total Long-term Indebtedness: $95,662 Capitalization Subordinated Loan from NB $27,524 Total Unrestricted Net Assets: $20,175 Long-Term Indebtedness: $95,662 Tangible Net Worth: $143,361 Long Term Debt to Capitalization Ratio: RequiredLong Term Debt to Capitalization Ratio (no greater than):.65x 4~Avera~e Payment Period Funds Available for Payment Current Liabilities $33,108 Exi,enses Operating Expenses: $185,752 Less Depreciation and Amortization Expense: Adjusted Expenses: $177,562 Average Payment PeriodRatio RequiredAverage Payment Period 80 I

10 2015 ACTUAL STATISTICS ADMISSIONS Day Stay ER Hold 3 South Intensive Care Unit Tele Central Tele North Ortho Tower 1 (Old MedlSurg) Ortho Tower 1 NEW Med/Surg Sungcal Tower 2 (Old Ortho/Neuro) Sub Total - Adults Only Obstetrics/Maternity Patient Tower OB (Post Partum) Sub Total - Adutls & Maternity: Nursery Level II Nursery Level I Sub Total - Newborn Only ALL ADMISSIONS Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Jul-IS Aug-IS Sep-15 YTD ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL (1) , , , , , (1) (1) ,851 PATIENT DAYS Day Stay ER Hold 3 South Intensive Care Unit Tele Central Tele North Ortho Tower 1 (Old Med/Surg) Ortho Tower I NEW Med/Surg Surigcal Tower 2 (Old OrtholNeuro) Sub Total -Adults Only Obstetrics/Maternity Patient Tower OB (Post Partum) Sub Total - Adutls & Maternity: Nursery Level II Sub Total - Nursery Level II PAT DAYS excl Nursery level I Nursery Level I Total Newborns: ALL PATIENT DAYS (2) ,670 1,173 1,030 1, ,029 1,057 1, , , , , ,934 4,179 3,731 3,898 3,743 3,901 4,066 3,887 3,564 3,484 34, ,277 3,762 3,898 3,743 3,901 4,066 3,887 3,564 3,484 34, (1) (1) ,362 3,768 3,897 3,743 3,901 4,066 3,887 3,564 3,484 34, (1) ,439 3,789 3,897 3,743 3,901 4,066 3,887 3,564 3,484 34,770

11 2015 ACTUAL STATISTICS AVERAGE DAILY CENSUS Day Stay ER Hold 3 South Intensive Care Unit Tele Central Tele North Ortho Tower I (Old MedlSurg) Ortho Tower 1 NEW MediSurg Surigcal Tower 2 (Old Ortho/Neuro) Sub Total -Adults Only ObstetricslMatemity Patient Tower OB (Post Partum) Sub Total - Adults and Maternity: Nursery Level II Nursery Level Sub Total - Newborn Only OVERALL ADC Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-IS Jul-IS Aug-IS Sep-IS YTD ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL (0.1) (0.0) (0.0) PERCENTAGE OF OCCUPANCY Day Stay ER Hold 3 South Intensive Care Unit Tele Central Tele North Ortho Tower I (Old Med/Surg) Ortho Tower 1 NEW Med/Surg Surigcal Tower 2 (Old Ortho/Neuro) Sub Total -Adults Only ObstetricslMatemity Patient Tower OB (Post Partum) Sub Total - Adults & Maternity Nursery Level II TOTAL PERCENTAGE OF OCCUPANCY (Excludes Nursery Level I) 30.26% 21.80% 82.74% 77.50% 78.83% 76.64% 87.60% 86.05% 79.23% 76.12% 0.00% 0.00% 83.27% 82.25% 76.16% 75.28% 22.58% 7.91% 0.00% 0.00% 67.30% 65.54% 34.27% 2.68% 66.06% 63.18% 0.00% 0.00% 0.00% 0.00% -0.23% 0.00% 0.00% 75.48% 66.17% 59.52% 72.00% 58.23% 54.19% 60.00% 70.56% 66.88% 69.15% 73.40% 67.81% 63.31% 63.33% 77.22% 82.92% 85.18% 82.29% 80.85% 82.96% 78.75% 72.78% 74.38% 74.60% 81.46% 78.63% 62.90% 62.08% 81.85% 83.75% 86.49% 93.75% 88.31% 74.80% 79.17% 77.72% 78.85% 80.04% 82.29% 81.55% 72.88% 75.73% 65.49% 64.98% 65.54% 70.59% 6S.31% 59.88% 60.49% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 65.49% 64.98% 65.54% 70.59% 65.31% 59.88% 60.49% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 65.47% 64.98% 65.54% 70.59% 6S.31% 59.88% 60.49% 5.76% 67.31% 69.99% 82.65% 73.58% 65.35% 79.40% 67.08% 3.39% 0.00% 65.01% 4.11% 64.61%

12 Page 1 of 6 RWJ-H Trended StatIstIcs Jan Feb Mar Apr May Jun Jul Aug Sep ~ T D ADMISSIONS Adults ,755 Maternity NurseryLevelil 4 2 (1) Nursery Level I TOTAL ,851 I Adults ,812 Maternity Nursery Level II Nursery Level TOTAL , ,339 (1,488) Budget , Actual Versus Budget (12) (47) (121) (98) (18) (12) (23) (219) DAYOBSERVATIONS CASES 2015 AdultDayObservation ,311 Maternity Observation TOTAL , AdultDayObservation ,455 Maternity Observation TOTAL ,406 (1,017) Budget , Actual Versus Budget 29 (6) (32) (9) (16) (30) (4) (7) (3) (78) CENSUS Adults 4,179 3,731 3,898 3,743 3,901 4,066 3,887 3,564 3,484 34,453 Maternity Nursery Level II 85 6 (1) Nursery Level Sub-Total - Inpatient Census 4,439 3,789 3,897 3,743 3,901 4,066 3,887 3,564 3,484 34,770 Equivalent OP Patient Days - Adults and Maternity ,341 TOTAL PATIENTS IN BEDS ,579 3,915 4,054 3,890 4,032 4,211 4,061 3,718 3,651 36,111 Adults 4,254 3,834 3,929 3,756 3,618 3,301 3,178 3,258 3,149 32,277 Maternity ,166 Nursery Level II Nursery Levell ,559 Sub-Total - InpatIent Census 4,810 4,322 4,363 4,223 4,169 3,800 3,750 3,724 3,636 36,797 Equivalent OP Patient Days-Adult and Maternity ,882 TOTAL PATIENTS IN BEDS ,981 4,502 4,580 4,410 4,369 3,987 3,937 4,007 3,906 38,679 (2,568) Budget ,951 3,576 3,952 3,821 3,512 3,400 3,512 3,588 3,545 32, Actual Versus Budget ,254 KG GB

13 Page2of6 RWJ-H Trended Statistics Jan Feb Mar Apr May Jun Jul Aug Sep ~ T D AVERAGE DAILY CENSUS AduitsandMaternityandNiCU AdultsandMaternityandNlCU (2) Budget2Ol5-AverageDaliyCensus Ol5Actual Versus Budget AVERAGE LENGTH OF STAY Adults and Maternity and NICU Adults and Maternity and NICU (0.45) Budget 2015.Average Length of Stay Actual Versus Budget (0.79) (0.65) (0.67) (0.51) (0.45) (0.70) (0.88) (0.28) (0.30) (0.58) OR VISITS inpatient Emergency Room Outpatient Same Day Surgery TOTAL 2015 TOTAL 2014 Budget Actual Versus Budget , (1) , , , , (12) ENDOSCOPY Outpatient ,299 Outpatlent ,408 (109) Budget ,376 2ol5ActuaiVersusBudget (17) - (16) 13 (6) 6 (30) (38) 11 (77) KC

14 PageS of 6 RWJ-H Trended StatistIcs Jan Feb Mar Apr May Jun Jul Aug Sep ~ T D EMERGENCY ROOM ~dmitted Treated & Released Peds - TIR - Regular ER Peds - TIR - Seen thru Peds ER Triage Total 2015 ~dmifted Treated & Released Peds - TIR - Regular ER Peds - TIR - Seen thru Peds ER Triage Total 2014 Admitted Treated & Released Peds - T/R - Regular ER Peds - T/R - Seen thru Peds ER Triage Total Budget Actual Versus Budget ,029 2,821 2,240 2,530 2,489 2,668 2,526 2,631 2,648 2,556 23, , , ,841 3,740 4,139 4,103 4,381 4,039 4,107 4,074 4,045 37, ,933 2,812 2,621 2,668 2,835 3,011 2,912 2,979 3,050 2,867 25, , , ,516 4,180 4,464 4,578 4,789 4,560 4,627 4,623 4,604 40,941 (3,672) ,883 2,945 2,661 2,944 2,850 2,944 2,850 2,944 2,944 2,851 25, , , ,855 4,203 4,654 4,505 4,654 4,504 4,654 4,653 4,505 40,987 (14) (463) (515) (402) (273) (465) (547) (579) (460) (3,718) CT SCAN - (PROCEDURES) Outpatlent ,224 1,100 1,263 1,170 1,118 1,198 1,158 1,211 1,323 10,765 Outpatlent ,370 1,248 1,302 1,350 1,424 1,275 1,293 1,391 1,283 11,936 (1,171) Budget2Ol5 1,331 1,220 1,348 1,316 1,313 1,317 1,349 1,330 1,301 11, Actual Versus Budget (107) (120) (85) (146) (195) (119) (191) (119) 22 (1,060) ULTRASOUNDS - (PROCEDURES) Outpatlent ,317 Outpatlent ,057 1, ,015 1, ,801 (2,484) Budget ,019 1, ,005 1, , Actual Versus Budget (326) (326) (329) (282) (220) (293) (235) (288) (289) (2,588) Columbus Columbus Budget2Ol4-Columbus Actual Versus Budget (10) 6 17 (11) 11 (6) KC CB

15 Page4of6 RWJ-H Trended StatistIcs Jan Feb Mar Apr May Jun Jul Aug Sep YTD MATERNAL FETAL MEDICINE Outpatlent (2) (1) (1) (1) ~ Outpatlent ,723 (3,545) Budget2OlS(UltrasoundsOnly) , Actual Versus Budget (272) (352) (430) (434) (394) (435) (434) (412) (412) (3,575) RADIOLOGY SPECIAL PROCEDURES Outpatlent Outpatlent (132) Budget Actual Versus Budget (25) (8) (17) (20) 1 (14) 7 13 (28) (91) PET SCAN Outpatlent Outpatient Budget olsActuaiVersusBudget (1) MR1 Outpatlent ,177 Outpatlent ,485 (308) Budget , Actual Versus Budget (44) (33) (64) (28) (20) (35) (26) (27) (19) (296) Columbus Columbus Budget Columbus 2015 Actual Versus Budget 5 9 (2) (1) 18 7 (2) 6 3 (5) LITHOTRIPSY Outpatient Outpatlent Budget ol5ActuaiVersusBudget 20 (2) (6) KC

16 Page 5 of 6 RWJ-H Trended StatIstics Jan Feb Mar Apr May Jun Jul Aug Sep ~ T D ICARDIAC CATH LAB - Reported to State I 141 I CARDIAC CATH LAB - Inpatient Inpatient Inpatlent Budget2Ol5-Inpatlent Actual Versus Budget (5) (5) CARDIAC CATH LAB - Outpatient Outpatlent Outpatlent Budget OutpatIent Actual Versus Budget (5) 3 (3) I - I Angloplasty Angloplasty (19) Budget2Ol5-Angloplasty Actual Versus Budget (1) (4) (5) (4) 5 - (2) - (2) (13) SLEEP CENTER - (Procedures) OutpatIent Outpatient Budget Outpatient Actual Versus Budget (3) (7) INFUSION CENTER - Chemo Only Outpatlent ,910 Outpatlent ,404 (494) Budget OutpatIent ,313 2OlSActuaI Versus Budget 9 (83) (115) (125) (69) (14) (37) 27 4 (403) INFUSION CENTER - (Procedures) - All Others Outpatient , ,405 Outpatient , Budget Outpatient ,524 2Ol5ActuaI Versus Budget (223) (62) 7 33 (65) (74) (119) KG GB

17 Page 6 of 6 RWJ-H Trended StatIstIcs Jan Feb Mar Apr May Jun Jul Aug Sep,~ T D RADIATION ONCOLOGY - (Procedures) Outpatlent (1,121) ,350 Outpatlent ,200 (850) Budget OutpatIent , Actual Versus Budget (1,496) (90) (48) (905) ALOS -MEDICARE ~ Budget Actual Versus Budget CMI - MEDICARE Budget Actual Versus Budget CMI-TOTAL Budget Actual Versus Budget BIRTHS (1) (715) Budget2OlS ol5ActualVersusBudget (35) (55) (73) (70) (1) (1) (1) (1) (1) (241) WOUND CARE Wound Care - Procedures ,631 Hyperbaric -30 Minute Increments , Total: 962 1,320 1, ,100 1,141 1, , ,122 1,041 1,205 1,245 1,209 1,081 1,264 1,310 1,065 10,542 (947) Budget2Ol4 1,180 1,123 1,236 1,236 1,123 1,236 1,234 1,179 1,180 10, Actual Versus Budget (218) (317) (23) (95) (30) (213) (474) (1,132) KC CB

18 LOAN AGREEMENTS CERTIFICATE UNAUDITED FINANCIAL STATEMENTS QUARTER ENDED SEPTEMBER 30, 2015 Re: New Jersey Health Care Facilities Financing Authority (the Authority ): (i) Variable Rate Revenue Bonds, RWJ Health Care Corp. at Hamilton Obligated Group Issue, Series 2002 (the 2002 Bonds ); (ii) Revenue Bonds, RWJ Health Care Corp. at Hamilton Obligated Group Issue, Series 2005B (the 20005B Bonds ); and (iii) Revenue Refunding Bonds, RWJ Health Care Corp. at Hamilton Obligated Group Issue, Series 2013 (the 2013 Bonds ) The undersigned, Chief Executive Officer and Chief Financial Officer, respectively, of each of RWJ HEALTH CARE CORP. AT HAMILTON and ROBERT WOOD JOHNSON UNIVERSITY HOSPITAL AT HAMILTON, INC. (collectively, Borrowers or the Obligated Group ), each hereby certifies, on behalf of the Borrowers, to (i) the Authority; (ii) TD Bank, National Association, the Bank, pursuant to that certain Amended and Restated Reimbursement Agreement, dated as of July 1, 2005, by and among the Borrowers and the Bank, as heretofore amended and supplemented, (iii) TD Bank, National Association, as Bond Trustee for the 2002 Bonds, 2005B Bonds and 2013 Bonds; (iv) The Bank ofnew York Mellon, as Master Trustee pursuant to that certain Amended and Restated Master Trust Indenture, by and among the Obligated Group and the Master Trustee, as heretofore amended and supplemented; (v) Radian Asset Assurance Inc./Assured Guaranty ( Radian/Assured ), as bond insurer for the 2005B Bonds; and (vi) Siemens Public, Inc., as the Lender pursuant to that certain Continuing Covenants Agreement, dated as of August 1, 2013 relating to the 2013 Bonds as follows: 1. I have reviewed the attached unaudited financial statements and other financial infonnation for the period ended September 30, 2015 being filed per the requirements of (i) Section 6.5 of that certain Loan Agreement, dated as of June 15, 2002, (ii) Section 6.06 of that certain Loan Agreement, dated as of July 1, 2005, and (iii) Section 6.15 of that certain Loan Agreement, dated as of July 1, 2013, each among the Borrowers and the Authority. 2. Based on my knowledge, the reports do not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which they were made, not misleading with respect to the period contained in such reports. 3. Based on my knowledge, the financial statements, and other financial information included in the report, fairly present in all material respects the financial condition of the Borrowers as of, and for, the periods presented in the reports. MEl v.l

19 IN WITNESS WHEREOF, the below-named officer has signed this certification this 6th day of November RWJ Health Care Corp. at Hamilton Robert Wo d Johnson Unive BY:~ at Hamilton, Inc. TITLE: President and Chief Executive Officer BY: uioaâ,l~j~j1~g4 Lester G. Cottle, II TITLE: Chief Financial Officer MEl v.l

20 CERTIFICATE OF CifiEF FINANCIAL OFFICER UNAUDITED FINANCIAL STATEMENTS QUARTER ENDED SEPTEMBER 30, 2015 Re: New Jersey Health Care Facilities Financing Authority (the Authority ): (i) Variable Rate Revenue Bonds, RWJ Health Care Corp. at Hamilton Obligated Group Issue, Series 2002 (the 2002 Bonds ); (ii) Revenue Bonds, RWJ Health Care Corp. at Hamilton Obligated Group Issue, Series 2005B (the 20005B Bonds ); and (iii) Revenue Refunding Bonds, RWJ Health Care Corp. at Hamilton Obligated Group Issue, Series 2013 (the 2013 Bonds ) The undersigned, Chief Financial Officer of RWJ HEALTH CARE CORP. AT HAMILTON and ROBERT WOOD JOHNSON UNIVERSITY HOSPITAL AT HAMILTON, INC. (collectively, Borrowers or the Obligated Group ), hereby certifies, on behalf of the Borrowers, to (i) the Authority; (ii) TD Bank, NA, the Bank, pursuant to that certain Amended and Restated Reimbursement Agreement, dated as of July 1, 2005, by and among the Borrowers and the Bank, as heretofore amended and supplemented (as amended and supplemented, the Reimbursement Agreement ), (iii) TD Bank, National Association, as Bond Trustee for the 2002 Bonds, 2005B Bonds and 2013 Bonds; (iv) The Bank ofnew York Mellon, as Master Trustee pursuant to that certain Amended and Restated Master Trust Indenture, by and among the Obligated Group and the Master Trustee, as heretofore amended and supplemented (as amended and supplemented, the Master Indenture ); (v) Radian Asset Assurance Inc./Assured Guaranty ( Radian/Assured ), as bond insurer for the 2005B Bonds; and (vi) Siemens Public, Inc. ( Siemens ), as the Lender pursuant to that certain Continuing Covenants Agreement, dated as of August 1,2013 (the 2013 CCA and together with the Reimbursement Agreement, the Master Indenture, the Financing Documents ) relating to the 2013 Bon4s as follows: 1. This certificate is delivered to you pursuant to (i) Sections 6.5(a) and (c) of that certain Loan Agreement dated as of June 15, 2002 (the 2002 Loan Agreement ), among the Borrowers and the Authority; (ii) Section 6.06(A) of that certain Loan Agreement, dated as of July 1, 2005 (the 2005 Loan Agreement ), among the Borrowers and the Authority; (iii) Section 6.15(a) of that certain Loan Agreement, dated as of August 1, 2013 (the 2013 Loan Agreement, and collectively with the 2002 Loan Agreement and the 2005 Loan Agreement, the Loan Agreements ), among the Borrowers and the Authority; (iv) Sections 6.03(a) and 6.11(b) of the Reimbursement Agreement; (v) Sections.3.12 and 4.1(e) of the Eighth Supplemental Indenture dated as of July 1, 2005, by and among the Obligated Group and the Master Trustee, as amended and supplemented; and (vi) Section 4.04 of the 2013 CCA. 2. Attached hereto as Exhibit A is the calculation of (i) the Required Ratios (as defined in the Loan Agreements), and (ii) the Debt Service Coverage Ratio, Days of Operating Expense or Days Cash on Hand, and Long Term Debt to Capitalization Ratio (as defmed in the Financing Documents), as of the quarter ended September 30, After a review of the provisions of the Loan Agreements, the Reimbursement Agreement, the Master Indenture and the CCA, defaults have occurred with regard to the following financial covenants: (i) Debt Service Coverage of (as of December 31, 2014) and 1.34 (as of September 30, 2015) (covenant requirement of 1.25 or greater) and (ii) Long Term Debt to Capitalization Ratio of 69% (as of December 31, 2014) (covenant requirement of not greater than 65%). The Bank, Radian/Assured and Siemens provided waiver letters and/or forbearance agreements with regard to these specified defaults. MEl v.l

21 IN WITNESS WHEREOF, the below-named Authorized Officer has signed this Officer s Certificate this 6th day of November RWJ Health Care Corp. at Hamilton Robert Wood Johnson University Hospital at Hamilton, Inc. BY: 44 4~f~d~ ester 0. Cottle, II TITLE: Chief Financial Officer MEl v.l