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

Breaking news, severe weather alerts, AMBER alerts, sports scores from The Norman Transcript are available as text messages right to your phone or mobile device. You decide which type of alerts you want to receive. Find out more or to signup, click here.

1
Text Only | Photo Reprints
Business
  • Selling Norman is love at first sight

    Meeting planners who make a site visit to Norman tend to fall in love, convention and hospitality experts said this week. The staff of the Norman Convention and Visitors Bureau are commissioned with the job of promoting tourism and selling ...

    April 20, 2014

  • Green House is a homegrown business

    Nancy Muenzler was a banker in her previous life. That was before the Green House, 1708 SW 24th Street, became her passion....

    April 20, 2014

  • Conan’s martial arts moves downtown

    Conan’s Kickboxing, Karate, Boxing, Jujitsu, MMA Academy is celebrating the grand opening of a new facility right in the heart of downtown Norman at 310 E. Main St. Founded in 1996 by four-time World Kickboxing Champion Scott “Conan” ...

    April 20, 2014

  • Chamber welcomes new members

    The Norman Chamber of Commerce would like to thank all our sales volunteers and welcome our new Chamber members from our recent spring membership drive.  Suzanne McAuley was this year’s membership drive chair....

    April 20, 2014

  • It’s easier than ever to be your own movie producer

    Things have certainly come a long way since 1988, when the first stand-alone audio CD recorders outside of CD manufacturing plants started showing up. At that time, do-it-yourself CDs were the province of the rich and famous, as the ...

    April 20, 2014

  • Chamber Banquet During annual banquet, Chamber of Commerce promotes moving Norman forward

    Amidst the backdrop of music, dancing, dinner and fellowship, business leader Mike Fowler announced that the time for a quality-of-life initiative in Norman has come. As incoming Norman Chamber of Commerce board chairman, Fowler and ...

    April 18, 2014 1 Photo

  • Women leaders announced

    The Norman Chamber announced the nominees for the 2014 Women’s Leadership Award, which honors female leaders who actively inspire other women to achieve their full potential.  Past recipients of this honor, formerly known as the ATHENA ...

    April 17, 2014

  • Norman use tax takes a hit while Moore sales tax flounders

    Norman use tax took a hit this month while Moore’s sales tax floundered for the first time since sales picked up in the post-tornado recovery period. For the city of Norman, however, sales tax collections are a bright spot on the revenue ...

    April 13, 2014

  • Nextep moves back to Dillard Building, but this time with much larger presence

    In 1997, entrepreneur Brian Fayak was just getting Nextep Inc., a professional employer service, started. Fayak had been working out of his sister’s house in west Norman and was delighted when the opportunity came to rent an executive ...

    April 13, 2014

  • Spotlight

    Chiropractic award Megan Borne, a chiropractic assistant at Sparks Clinic of Chiropractic in Norman, was recently awarded the title of C.A. counselor with the Pinnacle Chiropractic Management Group. She will assist other chiropractic ...

    April 13, 2014