The Norman Transcript


February 28, 2013

Low interest rates mean big savings



Unfortunately, this increase is not enough to alleviate the previous downslide. Net income from operations for the year-to-date period that runs from July 1 through January lags behind last year’s performance by $7.5 million, and the Fiscal Year 2013 budget is down by $5.9 million.

The good news is that non-operating income continues to exceed last year’s by $6.5 million and the FY 13 budget by $3.7 million.

“Investments partially made up for operating being behind budget,” Hopkins said. “Consequently, total net income is $2.2 million below FY 13 expectations and about $1.1 million below FY 2012.”

January inpatient discharges increased by 93 cases — 6.2 percent — from December and were 88 cases — 5.8 percent — above the January budget, according to Hopkins’ report. January inpatient days increased by 799 days, or 12.3 percent, from December and were 951 days or 14.9 percent above the January budget.

The average daily census in January increased to 236 from 210 in December as a result of increased admissions and increased average length of stay.

Despite increased length of stay, Hopkins said expenses were down.

“That was a very remarkable accomplishment,” he said.

Hospital outpatient: Hospital outpatient visits were strong in January with a 9.3 increase over December numbers, but outpatient surgical cases in January decreased 108 cases, or 14.9 percent, from December and were 36 cases, or 5.5 percent, below budget projections.

Outpatient surgeries may be more popular in December when patients have met their deductibles, but budget predictions usually take those factors under consideration.

Year-to-date, outpatient surgical cases increased 2.9 percent compared to the same seven-month period last year, Hopkins said.

Financial performance: Hopkins reported that January net revenue of $29.2 million was slightly above budget and January expenses of $28.1 million were 1 percent below budget.

“January net income from operations of $1.2 million was $519,900 above budget,” he said. “January non-operating income of $2.1 million was $1.7 million above budget, due to stronger market values of investments.”

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