September 15, 2000
FY 2000 third-quarter results
A quarterly status report of hospital performance
Financial overview: The hospital's strong rebound from last year's operating loss continued in the third quarter, leading the MGH to report an operating gain of $35.1 million year-to-date. Net patient service revenue was $30 million better than budget, as a result of the hard work of employees who have been managing high volume in both inpatient and outpatient areas. Indirect research produced a $1.5 million favorable variance in the third quarter and $33.1 million year-to-date, mainly from growth in research activity and positive negotiations with the National Institutes of Health. Revenue growth outpaced expense increases in the third quarter.
Admissions remained very strong in the third quarter, favorable by 1,765 while obersvations stays were below budget by 835. Total inpatient activity remained well above budgeted levels.
Admissions |
|
| FY '00 actual: | 30,430 |
| FY '00 budgeted: | 28,665 |
| FY '99 actual: | 28,117 |
| Patient Days | 180,331 |
| Inpatient Surgeries | 13,272 |
| Births | 2,265 |
Length of stay (LOS) was slightly above budget at 5.93 days, compared with a budget of 5.90 days. The hospital continues to focus on reducing LOS for the remainder of 2000 and moving into 2001.
Length of stay |
Days |
| FY '00 actual: | 5.93 |
| FY '00 budgeted: | 5.90 |
| FY '99 actual: | 6.24 |
Average daily census was above budget by 40.
Average daily census |
|
| FY '00 actual: | 658 |
| Average beds | 855 |
| Occupancy rate | 77% |
| FY '00 budgeted | 618 |
| FY '99 actual | 641 |
Outpatient visits have been strong throughout FY '00, with volume remaining well above budget and FY '99 levels. Ancillary revenues continue to grow and remain a key driver of outpatient net revenue.
Outpatient visits |
|
| FY '00 actual: | 573,982 |
| Clinic visits | 308,524 |
| Health Center visits | 212,467 |
| Emergency visits | 52,991 |
| FY '00 budgeted: | 537,252 |
| FY '99 actual: | 530,106 |
| Outpatient Surgeries | 10,423 |
Observation stays |
|
| FY '00 actual: | 4,144 |
| FY '00 budgeted: | 4,979 |
| FY '99 actual: | 5,231 |
| Chemotherapy infusion | 627 |
| Routine post-proceedure recovery | 1,273 |
General Hospital financial statement (in millions)
| YTD Actual | Variance to Budget | FY 1999 | |
| Net Patient Revenue | 593.6 | 30.0 | 519.7 |
| Research Revenue | 196.6 | 8.9 | 175.0 |
| Other Operating Revenue | 57.3 | 8.1 | 49.3 |
| Total Revenue | 847.5 | 47.0 | 744.0 |
| Salary and Benefits | 313.0 | 6.8 | 296.3 |
| Supplies and Outside Services | 188.1 | 12.2 | 168.3 |
| Outside Operating Expenses | 181.0 | 3.7 | 170.4 |
| Direct Research Expenses | 138.4 | 5.8 | 122.3 |
| Total Expenses | 820.6 | 28.6 | 757.3 |
| Current Operating Gain/(Loss) | 26.9 | 18.4 | (13.0) |
| Restructuring Charges | 0.0 | 0.0 | (0.3) |
| Prior Year Adjustments | 8.3 | 0.0 | 10.3 |
| Gain/(Loss) from Operations | 35.1 | 18.4 | (3.0) |
Non-Operating Gains/(Losses) |
33.8 |
23.3 |
6.5 |
| Net Gain/(Loss) | 69.0 | 41.7 | 3.6 |
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