The Norman Transcript

Business

February 25, 2014

Norman Regional Health System makes strong January showing

NORMAN — The Norman Regional Health System experienced a “very strong month,” in January, according to CFO Ken Hopkins, reporting to the board Monday.

“We had pretty substantial increases in our inpatient admissions,” Hopkins said.

The increase was likely related to flu season; the majority of additional cases were medical versus surgical.

Hopkins said January net revenue was $31.1 million, 11.2 percent above budget predictions of $28 million.

That favorable variance was primarily due to higher-than-budgeted patient volume, he said.

“Our operating expenses were up, as well,” Hopkins said. “Most of that was volume related.”

January operating expenses were $30.2 million, compared to $27.9 million predicted by the budget.

Expenses were up because of an increase in salaries and supplies to meet the need of serving the higher patient volume. Employee benefits was also up due to employee health insurance and workers’ compensation, Hopkins said.

Year-to-date net revenue was $200.8 million, or $6.6 million (3.4 percent) above budget predictions of $194.2 million.

At Moore Medical Center, numbers continue to climb. Hospital outpatient registrations for January were 1,624, up from 1,042 the prior month.

Hopkins said non-operating revenue was down $1.5 million in January because of investments, but year-to-date, non-operating revenue is running well above budget at $5.7 million versus $3.9 million, or 44.4 percent above budget predictions.

Total excess revenue over expenses is 42 percent above budget.

Joy Hampton

366-3544

jhampton@

normantranscript.com

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