Norman Regional revenue, expenses up

By Meghan McCormick

August 26, 2008 11:44 pm

— July was a good month for revenue at Norman Regional Health System, according to a financial summary presented at Monday's Norman Regional Hospital Authority board meeting.
Melvin Alexander, Norman Regional Health Systems senior vice president and chief financial officer, said July's net revenue was $30.5 million compared to a budgeted revenue of $29.4 million. The revenue increase was related to 91 surgical cases.
But, operating expenses also jumped.
Alexander said July expenses were $29.4 million while anticipated expenses were $27.6 million. Operating expenses were $1.8 million over budget for several reasons, including increased surgical supplies expense, bad debt expense and higher than anticipated ancillary services for inpatients.
"Next week, we'll see how August turns out," Alexander said.
Also Monday, the hospital authority moved into executive session to evaluate Norman Regional Health Systems chief executive officer David Whitaker.
After board members convened into open session, they moved to approve an increase in Whitaker's total potential compensation for the 2009 fiscal year. According to an e-mail from public information officer Heather Glenn, the amount is equal to the "61st percentile of the salary survey averages reflected in the report of the system's compensation consultant, with up to 35 percent of such compensation contingent on performance results."
Meghan McCormick 366-3539 mmccormick@normantranscript.com