April 26, 2002
FY 2002 first-quarter results
A quarterly status report of hospital performance
Financial overview: The MGH started fiscal year (FY) 2002 with a strong gain of $12 million, which compares favorably both to budget and the first-quarter results of the last two years. Revenue areas exceeded budget in the first quarter. Supply expenses were 2.2 percent over budget, mostly from medical and surgical supplies and pharmaceuticals. Utility expenses were $0.2 million under budget because of the warmer weather and the absence of the rate volatility the hospital experienced in FY ’01. Salary expenses were $0.7 million under budget because hiring activity did not increase as expected.
Admissions exceeded budget and FY ’01 figures, while admit-to-observe stays have declined. A positive admissions variance is expected to continue but will decrease. Opening of new beds later in the year could affect admissions. Births were slightly under budget and prior-year numbers.
Admissions |
|
| FY '02 actual: | 10,687 |
| FY '02 budgeted: | 10,415 |
| FY '01 actual: | 10,296 |
| Patient Days | 62,096 |
| Inpatient Surgeries | 4,356 |
| Births | 827 |
Length of stay (LOS) was at 5.81 days for the first quarter, which is .05 days better than budget and 0.14 days below the first quarter of FY ’01.
Length of stay |
Days |
| FY '02 actual: | 5.81 |
| FY '02 budgeted: | 5.86 |
| FY '01 actual: | 5.95 |
Average daily census was at 675.
Average daily census |
|
| FY '02 actual: | 675 |
| Average beds | 868 |
| Occupancy rate | 77.76% |
| FY '02 budgeted | 664 |
| FY '01 actual |
666 |
Outpatient visits surpassed the target level by 1.7 percent. Health center and Emergency Department visits were the main contributors to the positive variance.
Outpatient visits |
|
| FY '02 actual: | 197,248 |
| Clinic visits | 105,540 |
| Health Center visits | 73,300 |
| Emergency visits | 18,408 |
| FY '02 budgeted: | 193,998 |
| FY '01 actual: |
191,040 |
| Outpatient Surgeries | 3,754 |
Observation stays |
|
| FY '02 actual: | 1,110 |
| FY '02 budgeted: | 1,338 |
| FY '01 actual: | 1,214 |
| Chemotherapy infusion | 110 |
| Routine post-proceedure recovery | 372 |
General Hospital financial statement (in millions)
| YTD Actual | Variance to Budget | FY 2001 | |
| Net Patient Revenue | $246.5 | $5.9 | $213.8 |
| Research Revenue | 79.8 | 5.9 | 68.6 |
| Other Operating Revenue | 24.3 | 2.8 | 19.6 |
| Total Revenue | 350.6 | 14.6 | 302.0 |
| Salary and Benefits | 132.3 | 1.4 | 115.7 |
| Supplies and Outside Services | 80.3 | (3.0) | 70.4 |
| Outside Operating Expenses | 69.6 | (1.6) | 62.9 |
| Direct Research Expenses | 56.4 | (4.9) | 47.6 |
| Total Expenses | 338.6 | (8.1) | 296.6 |
| Current Operating Gain/(Loss) | 12.0 | 6.5 | 5.5 |
| Prior Year Adjustments | 0.0 | 0.0 | 0.0 |
| Gain/(Loss) from Operations | 12.0 | 6.5 | 5.5 |
Non-Operating Gains/(Losses) |
0.9 |
(4.3) |
10.4 |
| Net Gain/(Loss) | $12.9 | $2.2 | $15.9 |
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