MOUNT SINAI MEDICAL CENTER

Transcription

1 MOUNT SINAI MEDICAL CENTER MSMC Medical Center & Foundation Investor Call 1 st Quarter 2016

2 Overview CEO Report Mission Summary Financials Master Facility Planning Satellite Expansion Hospital Financial Update Volume Update Financial Results Financial Analysis Foundation Financial Update Financial Results Revenue Cycle Update EPIC RCM Update 2

3 Mission To provide high quality health care to our diverse community enhanced through teaching, research, charity care and financial responsibility. 3

4 Medical Center Financial Update 4

5 MSMC Benchmarks Significant Financial Accomplishments Stable Financial Performance Strong Volume in 1 ST Quarter 2016 vs Quarter 2015 Inpatient admissions were up 6.8% or 387 admits (6,092 vs 5,705) Observation admissions were up 5.1% or 70 admits (1,451 vs 1,381) Emergency Room visits were up 6.9% or 1,305 visits (20,151 vs 18,846) Inpatient Surgeries were up 9.1% or 138 surgeries (1,661 vs 1,523) Outpatient Surgeries were up 4.7% or 85 surgeries (1,907 vs 1,822) 1 st Quarter 2016 Net Income growth of $4.4M ($11.1M vs $6.6M) 1 st Quarter 2016 EBDITA growth of $4.6M ($21.62M vs $17.0M) 1 st Quarter 2016 Foundation Net Asset growth of $7.7M ($150.3M vs $142.6M) 5

6 Network Expansion & Surgery Tower Project 6

7 Facility Planning Replacement Surgery Tower and Emergency Department Project 12 New Modern Operating Rooms 154 Private Rooms Will allow for 100% Private Rooms for patients Replacement Emergency Department Expanded from current 16,700SF to 45,850SF Replacement Emergency Department will include a new 10,000SF Clinical Decision Unit New 750 space Parking Garage 7

8 Surgery Tower Project Schedule Estimated Date July 2015 September 2015 June 2016 June 2016 July 2016 July 2016 July 2018 September 2018 March 2020 Action Ground breaking of Parking Garage Complete Design of Tower / Emergency Department Complete Enabling Projects Complete Parking Garage Completion of Phased Permitting Begin Tower Construction Complete Tower & Emergency Department Construction Occupy Tower & Emergency Department Completion of Phased Renovations - (Pharmacy, Lab, Dietary) 8 8

9 MSMC - Current & Future Locations Skylake January 2017 La Fontana March 2017 Midtown October 2017 Mount Sinai Key West Satellite 9

10 Financial Update YTD 1 st Quarter

11 Volume Update 1 st Quarter st Quarter 2015 #Variance % Variance IP Rehab (36) (13.6%) Psychiatric % Acute 5,318 4, % Total Admissions 6,092 5, % Observation Admits 1,451 1, % Deliveries % MSMC Emergency Dept Visits 14,503 14, % FSED Emergency Dept Visits 5,648 4, % Total Emergency Dept Visits 20,151 18,846 1, % Inpatient Surgeries 1,661 1, % Ambulatory Surgeries 1,907 1, % Total Surgeries 3,568 3, % Open Hearts Surgeries % Cardiac Catheterizations % Cardiac Angioplasties % 11

12 Medical Center Profit & Loss Statement (Amounts in 000 s) 1 st Quarter st Quarter 2016 Actual Budget 1 st Quarter 2015 Actual Budget Variance Prior Year Variance Net Revenue $150,715 $142,419 $136,738 $8,296 $13,977 Expenses Personnel Cost $72,146 $70,756 $66,300 $1,390 $5,846 Supply Expense 30,358 29,809 26, ,520 Admin & General 16,904 17,790 17,242 (886) (338) Insurance 8,051 6,081 7,773 1, Depreciation 7,268 7,305 7,116 (37) 152 Interest 3,291 3,546 3,314 (255) (23) Other Operating 1,631 1,385 1, Total Operating Exp $139,649 $136,672 $130,127 $2,977 $9,522 Net Income $11,066 $5,747 $6,611 $5,319 $4,455 EBDITA $21,625 $16,598 $17,041 $5,027 $4,584 12

13 Cash Position Cash Position Calculation per Bond Covenant The Medical Center and Foundation has $321.3 in unrestricted cash. The Medical Center and Foundation has $143.3M in restricted cash. Medical Center Cash / Investments in Bank MSMC Foundation Days Available 03/31/16 $271,674,000 $49,595, Available 12/31/15 $261,680,000 $47,523, Available 12/31/14 $269,049,000 $42,694, Available 12/31/08 $71,623,000 $17,028, Restricted Cash Balances $111,495,000 $31,779,000 $143,274,000 Restricted and Unrestricted Cash Balance $383,169,000 $81,374,000 $464,543,000 13

14 Mount Sinai Medical Center Foundation Financial Update 14

15 Financial Summary Mount Sinai Medical Center Foundation Financial Results In FYE 2015, the Foundation has raised approximately $16.1 million The Foundation s Net Assets grew from $138.9M as of FYE 2014 to $148.8M as of FYE 2015, or 7% In FYE 2016 the Foundation if budgeted to raise $22.7M FYE 2014 FYE 2015 BUD 2016 Pledges, Cash Gifts & Other Bequests $22,612,000 $16,128,000 $22,747,000 Int, Div & Gains(Losses) on Investments 1,739,000 3,200, ,000 Total Revenues $24,351,000 $19,328,000 $23,684,000 Operating Expenses 5,763,000 $4,718,000 4,371,000 Revenues Over Expenses $18,588,000 $14,610,000 $18,3776,000 Transfers to Medical Center $678,000 $616,000 $500,000 Cash and Investments Unrestricted $42,694,000 $47,680,000 N.A. Restricted $30,463,000 $31,693,000 N.A. Total Cash and Investments $73,157,000 $79,373,000 N.A. Net Assets $138,872,000 $148,769,000 $169,471,000 *Excludes year-to-date Unrecognized Investment Losses for 2015 & 2014 of $(4.1)M and $(400,000), respectively 15

16 Revenue Cycle Update 16

17 Epic Revenue Cycle Epic Revenue Cycle Implementation Timing Month Project Go Live August 1, 2016 Scope Registration / Scheduling Hospital Billing and Claims HIM Coding Revenue Cycle Analytics Resources Approximately 20 Full Time Employees 100% dedicated to implementation Approximately 10 Employees partially dedicated to implementation (0.3 FTE each) Budget Mount Sinai already owns the Epic Revenue Cycle Software Spend in $9.5M Cost of Implementation - $16.9M 17

18 Mount Sinai Medical Center Disclosure Statement Forward-Looking Information: Certain Cautionary Statements The statements contained in this report that are not historical facts are "forward-looking statements" (as such term is defined in the Private Securities Litigation Reform Act of 1995), which may be identified by the use of forward-looking terminology such as: "estimates," "projects," "anticipates," "expects," "intends," "believes," "plans," "forecasts" or the negative thereof or other variations thereon or comparable terminology, or by discussions of strategy that involve risks and uncertainties. Our actual results could differ materially from those anticipated in such forward-looking statements. We wish to caution the reader that forward-looking statements, including, without limitation, statements regarding expected cost reductions, anticipated or expected results of the implementation of our cost-reduction initiatives, the development of service lines, anticipated revenues or capital expenditures, projected profits or losses, and other statements contained in this report regarding matters that are not historical facts, are only estimates or predictions. No assurance can be given that future results will be achieved. Actual events or results may differ materially as a result of risks facing us or of actual results differing from the assumptions underlying such statements. While we may elect to update forward-looking statements at some point in the future, we specifically disclaim any obligation to do so, even if our estimates change. 18

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