April 6, 2001
FY 2001 first-quarter results
A quarterly status report of hospital performance
Financial overview: The MGH began fiscal year 2001 with its seventh consecutive profitable quarter, reporting an operating gain of $5.6 million for the first quarter. In the first three months of the fiscal year, this operating margin continued to meet the hospital's aggressive budget targets. Most revenue areas of the hospital outperformed the budget goals in the first quarter.
Total expenses were above budget, a reflection of inflationary pressures. The hospital experienced an overage in salaries because of increased use of temporary personnel. If hiring permanent employees remains a challenge because of the tight labor market, higher-than-budgeted temporary personnel expense is likely to continue.
Admissions and births both compared favorably to fiscal year 2000, but were slightly below this year's budget target.
Admissions |
|
| FY '01 actual: | 10,296 |
| FY '01 budgeted: | 10,412 |
| FY '00 actual: | 9,635 |
| Patient Days | 61,241 |
| Inpatient Surgeries | 4,315 |
| Births | 835 |
Length of stay (LOS) finished the first quarter at .07 days above budget, a 0.05-day improvement from FY 2000. The hospital is inaugurating a new discharge-planning program this month that aims to further reduce LOS and address capacity issues. Called the "There's No Place Like Home" program, the goal of the initiative is to discharge all patients at a target time of 10 am if medically possible.
Length of stay |
Days |
| FY '01 actual: | 5.95 |
| FY '01 budgeted: | 5.88 |
| FY '00 actual: | 6.00 |
Average daily census met budget at 666.
Average daily census |
|
| FY '01 actual: | 666 |
| Average beds | 855 |
| Occupancy rate | 77.86% |
| FY '01 budgeted | 666 |
| FY '00 actual | 629 |
Outpatient visits were nearly on budget at 191,040, compared with budgeted visits of 191,172. Health center visits and Emergency Department visits were significantly better than budget, while visits on the main campus were below budget.
Outpatient visits |
|
| FY '01 actual: | 191,040 |
| Clinic visits | 105,504 |
| Health Center visits | 67,518 |
| Emergency visits | 18,018 |
| FY '01 budgeted: | 191,172 |
| FY '00 actual: | 192,650 |
| Outpatient Surgeries | 3,623 |
Observation stays |
|
| FY '01 actual: | 1,214 |
| FY '01 budgeted: | 1,381 |
| FY '00 actual: | 1,474 |
| Chemotherapy infusion | 90 |
| Routine post-proceedure recovery | 376 |
General Hospital financial statement (in millions)
| YTD Actual | Variance to Budget | FY 2000 | |
| Net Patient Revenue | 213.8 | 2.2 | 186.9 |
| Research Revenue | 68.6 | (0.5) | 62.0 |
| Other Operating Revenue | 19.6 | 1.0 | 18.1 |
| Total Revenue | 302.0 | 2.7 | 267.0 |
| Salary and Benefits | 115.7 | (1.6) | 102.3 |
| Supplies and Outside Services | 70.4 | (2.5) | 58.7 |
| Outside Operating Expenses | 62.8 | 1.1 | 60.3 |
| Direct Research Expenses | 47.6 | 0.5 | 43.3 |
| Total Expenses | 296.5 | (2.5) | 264.6 |
| Current Operating Gain/(Loss) | 5.6 | 0.3 | 2.4 |
| Prior Year Adjustments | 0.0 | 0.0 | 2.8 |
| Gain/(Loss) from Operations | 5.6 | 0.3 | 5.2 |
Non-Operating Gains/(Losses) |
10.4 |
5.5 |
10.0 |
| Net Gain/(Loss) | 16.0 | 5.8 | 15.2 |
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