Inventory of Supplies $ 1,397,336 $ 990 $ - Total Current Assets $ 18,373,272 $ 1,420,650 $ 172,240 $ - $ 19,966,162. Assets Limited Use : $ - $ - $ -

Transcription

1 NANTICOKE HEALTH SERVICES, INC. OBLIGATED GROUP BALANCE SHEET DECEMBER 31, 2008 NMH LCLP DUAL ELIMINATIONS OBLIGATED GROUP Current Assets: Cash & Cash Equivalents 1,685, , ,154 2,176,970 Patient Accounts Receivable Net 13,337,108 1,093,790 14,430,898 Other Receivables 1,203,255 7,087 1,210,341 Pledges Receivable Prepaid Expenses & Other A/R 749, ,627 Inventory of Supplies 1,397, ,398,326 Total Current Assets 18,373,272 1,420, ,240 19,966,162 Assets Limited Use : Board Designated 20,147,564 20,147,564 Other Investments Board Designated Principal & Interest 1,037, ,019 1,283,353 Externally Restricted 4,040,063 4,040,063 Total Assets Limited Use 25,224, ,019 25,470,979 Property, Plant & Equipment Net 44,088, ,621 17,308,763 61,683,791 Other Assets: Deposits 20,348 20,348 Intercompany Recv / (Payable) 3,800,293 (634,954) (634,954) 2,530,385 Unamortized Loan Costs 1,209, ,916 1,499,791 Other Assets 2,695,349 2,695,349 Total Other Assets 7,705,517 (634,954) 310,264 (634,954) 6,745,873 Total Assets 95,392,156 1,072,317 18,037,286 (634,954) 113,866,806 TOTAL Current Liabilities: Accounts Payable 4,657, , (634,954) 4,157,791 Accrued Payroll & Taxes 1,311, ,197 1,503,763 Accrued Vacation 1,946, ,733 2,241,976 Accrued Interest 379,602 90, ,630 Due to Third Parties Other Payables and Accrued Expenses 1,080,000 1,080,000 Current Portion of Notes and Bonds Payab 5,080,851 5,080,851 Total Current Liabilities 14,455, ,384 90,812 (634,954) 14,534,011 Long Term Debt & Cap Lease 43,073,495 9,989,540 53,063,035 Self Insurance Reserves 200, ,000 Accrued Post Retirement Liabilities 7,300,349 7,300,349 Total Liabilities 65,029, ,384 10,080,353 (634,954) 75,097,396 Unrestricted Fund Balance 30,362, ,933 7,956,934 38,769,410 Temporarily Restricted Permanently Restricted Donor Funds Total Net Assets 30,362, ,933 7,956,934 38,769,410 Total Liabilities & Net Assets 95,392,156 1,072,317 18,037,286 (634,954) 113,866,806

2 NANTICOKE HEALTH SERVICES, INC. OBLIGATED GROUP INCOME STATEMENT SIX MONTHS ENDED 12/31/08 NMH LCLP DUAL ELIMINATIONS OBLIGATED GROUP Revenues: Inpatient Revenues 44,409,529 6,431,886 50,841,415 Outpatient Revenues 59,718,361 59,718,361 Total Revenues 104,127,891 6,431, ,559,776 Contractual Adjustments 53,928,865 1,171,297 55,100,162 Uncompensated Care 6,769,152 45,622 6,814,774 Net Patient Service Revenues 43,429,874 5,214,967 48,644,841 Interest Income 34,141 34,141 Other Operating Income 1,057,084 17, ,416 (923,857) 1,112,462 Total Other Operating Revenues 1,091,225 17, ,416 (923,857) 1,146,603 Assets Released from Restriction Net Revenues 44,521,099 5,232, ,416 (923,857) 49,791,444 Expenses Salaries and Wages 16,805,599 2,963,230 19,768,829 Benefits 6,201,776 1,235,345 7,437,121 Contract Labor 1,459, ,467 1,720,585 Physician Fees 741,250 10, ,000 Professional Fees 971,821 48,978 3,600 1,024,399 Purchased Services 4,677, , ,851 (101,791) 4,935,785 Medical Supplies 4,515, ,368 4,933,683 Drugs 2,250, ,321 2,471,267 Repairs/Maintenance 463,943 7,650 79, ,112 Rental/Leases 917, , ,112 (822,066) 624,752 Utilities 1,445, ,205 51,268 1,659,783 Taxes Licenses and Permits Insurance 237, ,338 2, ,542 Other Expenses 1,418,256 54,494 52,135 1,524,885 Total Expenses 42,105,945 5,963, ,735 (923,857) 47,744,743 EBIDA 2,415,154 (731,134) 362,681 2,046,701 Interest Expense 1,198, ,084 1,468,828 Depreciation 3,600,000 27, ,379 4,060,571 Operating Income/(Loss) (2,383,590) (758,326) (340,781) (3,482,697) Contributions Investment Income Other Non Oper Income/(Expense) (3,446,288) (3,446,288) Total Income / (Loss) (5,829,878) (758,326) (340,781) (6,928,986) TOTAL

3 NANTICOKE HEALTH SERVICES OBLIGATED GROUP Comparative Income Statement Fiscal Year June Change % Change FY 09 Budget Gross Patient Revenue 110,559, ,389,502 (829,726) 0.7% 116,200,182 Contractual Allowances 61,914,936 58,961,202 2,953, % 62,981,541 Net Patient Revenue 48,644,840 52,428,300 (3,783,460) 7.2% 53,218,641 Other Operating Revenue 1,146, , , % 703,047 Total Operating Revenue 49,791,443 53,331,575 (3,540,132) 6.6% 53,921,688 NonCapital Expenses 47,744,743 52,581,903 (4,837,160) 9.2% 49,431,060 Operating EBIDA 2,046, ,672 1,297, % 4,490,628 Operating EBIDA % 4.11% 1.41% 2.70% 192.4% 8.33% Capital Related Expenses: Depreciation Expense 4,060,571 4,339,982 (279,411) 6.4% 4,051,200 Interest Expense 1,468,828 1,485,065 (16,237) 1.1% 1,424,994 Operating Income (3,482,699) (5,075,375) 1,592, % (985,566) Net NonOperating Rev & Exp (3,446,288) 450,172 (3,896,460) 865.5% 450,000 Excess(Deficit)Revenue over Exp (6,928,987) (4,625,203) (2,303,784) 49.8% (535,566) Operating Margin (%) 7.2% 9.7% 1.9% Financial Ratios: Debt Service Coverage (Required: 1.2) (0.55) 52.4% Days Cash on Hand (Required: 60) (68.34) 62.9% Current Ratio (0.27) 16.2%

4 NANTICOKE HEALTH SERVICES OBLIGATED GROUP Statement of Cash Flow Cash and Cash Equivalents at 06/30/08 770,662 Operating Activities 259,523 Investing Activities (2,952,688) Financing Activities 4,099,472 Cash and Cash Equivalents at 12/31/08 2,176,969

5 NANTICOKE HEALTH SERVICES, INC. Parent Company of Obligated Group OPERATING INCOME(LOSS) Change % Change FY 09 Budget The Nanticoke Group: Nanticoke Memorial Hospital (2,383,591) (4,594,957) 2,211, % (750,198) Nanticoke Alternative Care (LifeCare Lofland) (758,326) (274,617) (483,709) 176.1% (120,640) Dual Development Corp. (340,782) (205,801) (134,981) 65.6% (114,728) Nanticoke Group Total (3,482,699) (5,075,375) 1,592, % (985,566) Other Entities: MidSussex Medical Center (871,150) (960,105) 88, % (729,257) Proprietary Enterprises (26,078) 26, % Nanticoke Health Services (36,565) 29,960 (66,525) 222.0% 89,046 Nanticoke Insurance Co, LTD 83,034 (93,705) 176, % (36,565) Other Entities Total (824,681) (1,049,928) 225, % (640,211) Total Nanticoke Health Services (4,307,380) (6,125,303) 1,817, % (1,625,777)

6 NANTICOKE MEMORIAL HOSPITAL An Acute Care Hospital Utilization Statistics Change % Change FY 09 Budget Births (16) 3.1% 515 Admissions 2,490 2,723 (233) 8.6% 2,910 Average Length of Stay (0.4) 8.9% 5.4 Patient Days 10,274 12,191 (1,917) 15.7% 15,618 ER Visits 15,546 15, % 17,097 Outpatient Visits 28,229 28, % 29,358 Inpatient Surgeries % 596 Outpatient Surgeries 1,199 1,348 (149) 11.1% 1,348 Total Surgeries 1,807 1,944 (137) 7.0% 1,944 Percent of Gross Revenue Medicare 42% 43% Medicaid 21% 20% Blue Cross 13% 12% Commercial 14% 17% Self Pay & Other 10% 8% Total 100% 100% Admissions and Patient Days exclude Newborn & Nursery days. Operating Results Overview Gross Patient Revenue per Adj Patient Day 4,323 3, % 3,316 Deductible Ratio 58.3% 55.0% 3.3% 6.0% 56.3% Net Patient Revenue per Adj Patient Day 1,803 1, % 1,448 NonCapital Expense per Adj Patient Day 1,748 1,770 (22) 1.2% 1,346 Gross Patient Revenue 104,127, ,729,231 (1,601,341) 1.5% 109,482,238 Contractuals & Charity 60,698,017 58,139,674 2,558, % 61,674,903 Net Patient Revenue 43,429,873 47,589,557 (4,159,684) 8.7% 47,807,335 Other Operating Revenue 1,091, , , % 622,396 Operating Revenue 44,521,098 48,181,102 (3,660,004) 7.6% 48,429,731 NonCapital Expenses 42,105,945 47,643,958 (5,538,013) 11.6% 44,432,531 Operating EBIDA 2,415, ,144 1,878, % 3,997,200 Operating EBIDA % 5.56% 1.13% 4.43% 392.7% 8.36% Capital Related Expenses: Depreciation Expense 3,600,000 3,891,498 (291,498) 7.5% 3,600,000 Interest Expense 1,198,744 1,240,603 (41,859) 3.4% 1,147,398 Operating Income (2,383,591) (4,594,957) 2,211, % (750,198) Operating Margin (%) 5.5% 9.7% 1.6% NonCapital Expense Detail Salary & Benefits 24,466,493 27,820,383 (3,353,890) 12.1% 26,079,145 Supplies & Purchased Services 11,443,456 12,939,322 (1,495,866) 11.6% 11,963,585 Professional Fees 1,713,071 2,307,325 (594,254) 25.8% 1,700,848 Other 4,482,925 4,576,928 (94,003) 2.1% 4,688,953 Total noncapital expense 42,105,945 47,643,958 (5,538,013) 11.6% 44,432,531

7 NANTICOKE ALTERNATIVE CARE A Long Term Care Facility T/A Lifecare at Lofland Park Utilization Statistics Change % Change FY 09 Budget Patient Days Medicare 3,105 3,704 (599) 16.2% 3,580 Medicaid 12,073 11, % 12,014 Commercial (75) 19.2% 378 Private 4,243 4, % 3,818 Total Patient Days 19,736 19, % 19,790 % Occupancy 97.5% 97.8% 0.3% 0.3% 97.8% Operating Results Overview Gross Patient Revenue 6,431,886 5,793, , % 6,717,944 Contractuals & Charity 1,216, , , % 1,306,638 Net Patient Revenue 5,214,967 4,971, , % 5,411,306 Other Operating Revenue 17,819 17, % 16,170 Operating Revenue 5,232,786 4,988, , % 5,427,476 NonCapital Expenses 5,963,920 5,229, , % 5,507,934 Operating EBIDA (731,134) (240,647) (490,487) 203.8% (80,458) Operating EBIDA % 14.02% 4.84% 9.2% 189.6% 1.49% Capital Related Expenses: Depreciation Expense 27,192 33,970 (6,778) 20.0% 40,182 Interest Expense 0.0% Operating Income (758,326) (274,617) (483,709) 176.1% (120,640) NonCapital Expense Detail Salary & Benefits 4,460,042 3,514, , % 3,810,312 Supplies & Purchased Services 817,219 1,024,448 (207,229) 20.2% 674,070 Professional Fees 59,728 24,270 35, % 59,550 Other 626, ,999 (39,068) 5.9% 964,002 Total noncapital expense 5,963,920 5,229, , % 5,507,934

8 DUAL DEVELOPMENT CORPORATION Property Development & Management Company Operating Results Overview Change % Change FY 09 Budget Operating Revenue 961,416 1,041,184 (79,768) 7.7% 988,338 NonCapital Expenses 598, ,009 10, % 414,452 Operating EBIDA 362, ,175 (90,494) 20.0% 573,886 Operating EBIDA % 37.72% 43.52% 5.80% 13.3% 58.07% Capital Related Expenses: Depreciation Expense 433, ,514 18, % 411,018 Interest Expense 270, ,462 25, % 277,596 Operating Income (340,782) (205,801) (134,981) 65.6% (114,728) Operating Margin (%) 35.4% 19.8% 15.7% 79.3% 11.6% NonCapital Expense Detail Supplies & Purchased Services 181, ,820 (33,969) 15.7% 135,074 Other 416, ,189 44, % 279,378 Total noncapital expense 598, ,009 10, % 414,452