Thomas Jefferson University & Jefferson Health Consolidated Financial and Statistical Report June 2015

Transcription

1 Thomas Jefferson University & Jefferson Health Consolidated Financial and Statistical Report June 2015

2 THOMAS JEFFERSON UNIVERSITY & JEFFERSON HEALTH FINANCIAL AND STATISTICAL REPORT JUNE 2015 TABLE OF CONTENTS Page Summary Financial Report - Thomas Jefferson University 1 Summary Financial Report - Abington Hospital 2 Consolidated Balance Sheet 3 Pro-Forma Consolidated Statement of Revenues and Expenses and Change in Net Assets 4

3 Thomas Jefferson University Summary Financial Report June 2015 Utilization Month to Date Year to Date Budget Actual Fav/(Unfav)% Prior Yr Fav/(Unfav)% Budget Actual Fav/(Unfav)% Prior Yr Fav/(Unfav)% 1 Admissions 3,608 3,575 (0.9%) 3,620 (1.2%) 43,872 44, % 45,131 (2.0%) 2 Patient Days 19,353 18, % 18, % 235, ,277 (0.9%) 242, % 3 Average Daily Census (4.1%) (0.3%) % (2.1%) 4 Average Length-of-Stay % % % % 5 Occupancy % 72.8% 73.7% 1.2% 67.0% 10.0% 72.6% 74.0% 1.9% 75.3% (1.7%) 6 Inpatient Surgeries 1,289 1, % 1, % 16,318 16,228 (0.6%) 16,828 (3.6%) 7 Outpatient Surgeries 1,441 1, % 1, % 16,737 17, % 16, % 8 Outpatient Visits a Hospital 41,038 40,746 (0.7%) 40, % 472, ,815 (0.9%) 471,286 (0.5%) b JUP -New 4,228 4, % 4, % 46,529 44,309 (4.8%) 44,540 (0.5%) c Existing 45,453 48, % 42, % 532, ,615 (1.2%) 494, % d JUP Total 49,680 52, % 46, % 579, ,924 (1.5%) 538, % 9 Observation Unit Cases % % 4,135 4, % 4, % Operating Indicators 10 Total FTE's 11, , % 11,013.1 (0.1%) 11, , % 11,046.1 (0.0%) 11 TJUH Inc. Medical Supply Cost per Adjusted Discharge $3,401 $3,724 (9.5%) $3, % $3,513 $3,597 (2.4%) $3, % 12 TJUH Inc. Hospital Operating Expense per Adjusted Discharge $20,468 $20,803 (1.6%) $21, % $20,929 $21,143 (1.0%) $20,706 (2.1%) 13 Clinical Pillar Uncompensated Care % 7.61% 7.97% (4.8%) 5.01% (59.1%) 7.52% 6.64% 11.6% 7.09% 6.3% 14 TJUH Inc Case Mix Index (All payers) % % % % Day Readmissions % 12.92% 13.34% (3.3%) 12.87% (3.6%) 14.06% 13.19% 6.1% 13.66% 3.5% 16 TJUH Managed Care Payer Mix 32.68% 35.25% 7.9% 34.04% 3.6% 32.68% 33.80% 3.4% 33.65% 0.4% 17 TJU Indirect Cost Recovery (in thousands) $1,606.4 $2, % $2, % $20,703 $22, % $22, % 18 TJU Internally Funded Research 46.4% 46.5% (0.2%) N/A N/A 46.4% 43.5% 6.2% N/A N/A 19 Income (Loss) from Operations (in thousands) $4,612.8 $14, % $6, % $30,443.9 $40, % $31, % Key Ratios & Balance Sheet Items 20 Operating Margin % 2.55% 7.17% 180.7% 3.25% 120.6% 1.44% 1.87% 30.3% 2.76% (32.3%) 21 Cash & Short-Term Investments (in thousands) $1,274,792 * 22 Days Cash on Hand * 23 Days in Accounts Receivable - Hospital Days in Accounts Receivable - JUP Days in Accounts Receivable - Abington Debt Service Coverage Ratio 3.47 * 27 Debt Service % of Revenues 2.54% * 28 Cushion Ratio * 29 Debt to Capitalization 35.02% * * Calculation consolidates TJU and Abington Hospital. Page 1

4 Abington Hospital Summary Financial Report June 2015 Utilization Month to Date Year to Date Budget Actual Variance% Prior Yr Variance% Budget Actual Variance% Prior Yr Variance% 1 Admissions 2,468 2, % 2,756 (1.6%) 30,489 34, % 33, % 2 Patient Days 10,613 11, % 12,194 (2.5%) 133, , % 151,781 (1.1%) 3 Average Daily Census % (2.5%) % (1.4%) 4 Average Length-of-Stay % % % 4.50 (2.2%) 5 Occupancy % 57.9% 64.9% 12.1% 62.8% 3.3% 60.5% 68.0% 12.4% 66.6% 2.1% 6 Inpatient Surgeries (7.5%) 678 (4.1%) 8,309 7,975 (4.0%) 8,200 (2.7%) 7 Outpatient Surgeries % % 9,355 9, % 9, % 8 Outpatient Visits 59,921 57,602 (3.9%) 57, % 729, ,864 (9.3%) 680,997 (2.8%) 9 Observation Unit Cases (3.9%) % 10,167 8,764 (13.8%) 8, % Operating Indicators 10 Total FTE's 4, ,809.0 (3.2%) 4, % 4, ,736.0 (1.7%) 4, % 11 Medical Supply Cost per Adjusted Discharge $1,487.1 $2,101.6 (41.3%) $1,664.0 (26.3%) $1,457.4 $1,850.1 (26.9%) $1,682.9 (9.9%) 12 Hospital Operating Expense per Adjusted Discharge $11,577.3 $13,451.1 (16.2%) $12,016.5 (11.9%) $11,037.1 $13,039.6 (18.1%) $12,185.6 (7.0%) 13 Uncompensated Care % 8.86% 7.17% 19.1% 9.14% 21.5% 7.18% 6.64% 7.5% 7.48% 11.3% 14 Case Mix Index (All payers) (1.8%) % (1.8%) % Day Readmissions % 8.96% 10.98% (22.5%) 9.83% (11.7%) 10.15% 10.67% -5.1% 9.65% (10.6%) 16 Managed Care Payer Mix 31.61% 38.57% 22.0% 36.14% 6.7% 31.05% 38.55% 24.2% 34.63% 11.3% 17 Income (Loss) from Operations (in thousands) $1,301.0 $3, % ($1,270.0) 408.0% $11,511.0 $32, % $ ,463.1% Key Ratios 18 Operating Margin % 2.0% 5.6% 179.1% -2.0% (381.9%) 1.5% 4.1% 170.0% 0.0% 40,400.0% Page 2

5 THOMAS JEFFERSON UNIVERSITY & JEFFERSON HEALTH FINANCIAL AND STATISTICAL REPORT CONSOLIDATED BALANCE SHEET AS OF JUNE 30, 2015 (IN THOUSANDS) 6/30/15 Assets Current Assets: Cash $245,050.6 Short term investments 1,029,741.6 Accounts receivable, less allowance for doubtful accts 412,564.4 Pledge receivable 18,225.8 Inventory, cost 37,921.3 Assets whose use is limited 20,050.1 Prepaid expenses and other current assets 24,377.6 Total Current Assets 1,787,931.5 Noncurrent Assets: Insurance recoverable 141,519.4 Assets whose use is limited 284,745.2 Assets held by affiliated foundation 8,781.3 Investments 788,876.7 Pledge receivable 82,685.5 Loans receivable 26,416.9 Land, buildings & equipment, net 1,389,913.1 Other noncurrent assets 43,974.1 Total Assets $4,554,843.7 Liabilities and Net Assets Current Liabilities: Accounts payable and accrued expenses $272,180.0 Accrued payroll and related costs 214,593.5 Sponsored program advances 17,843.7 Deferred revenue 11,932.4 Long-term obligations 21,427.0 Accrued professional liablity claims 36,913.0 Accrued workers' compensation claims 7,400.1 Total Current Liabilities 582,289.7 Noncurrent Liabilities: Long-term obligations 943,058.0 Accrued professional liability claims 316,692.5 Federal student loan advances 18,247.2 Deferred revenue 8,328.3 Accrued pension 289,382.7 Accrued workers' compensation claims 22,856.4 Other liabilities 60,188.2 Total Liabilities 2,241,043.0 Net Assets: Unrestricted 1,745,967.4 Noncontrolling interest in joint ventures 3,677.6 Temporarily restricted 280,445.6 Permanently restricted 283,710.1 Total Net Assets 2,313,800.7 Total Liabilities and Net Assets $4,554,843.7 Page 3

6 THOMAS JEFFERSON UNIVERSITY & JEFFERSON HEALTH FINANCIAL AND STATISTICAL REPORT PRO-FORMA CONSOLIDATED STATEMENT OF REVENUES AND EXPENSES AND CHANGE IN NET ASSETS FOR THE TWELVE-MONTH PERIOD ENDED JUNE 30, 2015 (IN THOUSANDS) Year-to-date Budget Actual Variance Var % Revenues: Net patient service revenue $2,511,077.1 $2,555,976.4 $44, % Grants and contracts - direct 61, , , % Grants and contracts - ICR 20, , , % Tuition and fees - net of scholarships 114, , , % Unrestricted endowment payout 12, , % Contributions 2, , % Investment income 3, , % Other revenue 131, , , % Net assets released from restriction 28, , , % Total Revenues 2,886, ,968, , % Expenses: Salaries and wages 1,284, ,305,060.7 (20,117.3) -1.6% Employee benefits 359, , , % Supplies 474, ,467.1 (20,355.4) -4.3% Insurance 96, , , % Utilities 44, , , % Interest 35, , , % Depreciation and amortization 152, ,016.9 (5,569.3) -3.7% Rent 42, ,827.5 (360.0) -0.8% Other 355, ,132.9 (63,563.5) -17.9% Total expenses 2,844, ,895,640.9 (50,671.4) -1.8% Income (loss) from operations $41,955.9 $73,068.4 $31, % Nonoperating gains (losses) and change in net assets: Gain/(loss) on investments, net , , % Investment income 28, , , % Unrestricted endowment payout (12,649.4) (13,494.0) (844.7) -6.7% Change in noncontrolling interest in joint ventures 0.0 (173.7) (173.7) 0.0% Net assets released for capital expenditure , , % Other changes in net assets 0.0 (35,574.1) (35,574.1) 0.0% Total nonoperating gains (losses) and change in net assets 16, , , % Increase (decrease) in unrestricted net assets $58,248.5 $95,141.8 $36, % Page 4