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University of Illinois Medical Center

University of Illinois Medical Center. Financial Performance FY03 Budget FY04. September 11, 2003. Operating Income (Millions). Bottom Line – Excess Revenues over Expenses (Millions).

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University of Illinois Medical Center

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  1. University of Illinois Medical Center Financial Performance FY03 Budget FY04 September 11, 2003

  2. Operating Income(Millions)

  3. Bottom Line – Excess Revenues over Expenses(Millions)

  4. Fiscal Year-End Days in Accounts Receivable2002 Midwest Average (Blue line), 2002 Urban Average (Black line) Source: Hara Report

  5. Fiscal Year-End Cash Balance(Millions)

  6. Cash Collected (000s)Average Monthly Cash Collected (Bars)

  7. DischargesDischarges (Bars) Trend (Black Line)

  8. Patient DaysPatient Days (Bars) Trend (Black Line)

  9. Outpatient Visits Outpatient Visits (Bars) Trend (Black Line)

  10. FTEs and FTEs per Adjusted Occupied Bed FTEs (adj) (Bars), FTEs/AOB (Blue Diamonds), Trend (Black Line)

  11. Total SalaryTotal Salary per Adjusted Patient Day (Bars) UHC Best Quartile (Dashed Line) MCGs 15 Best Quartile (Blue Line) UHC-University HealthSystem Consortium benchmark, MCG 15-Master Compare Group HBSI benchmark

  12. Salary per FTESalary per FTE (Bars) UHC Best Quartile (Dashed Line) MCGs 15 Best Quartile (Blue Line) UHC-University HealthSystem Consortium benchmark, MCG 15-Master Compare Group HBSI benchmark

  13. Nurse Agency(000s) Nurse Agency $ per FY (Bars)

  14. Supply CostSupply Cost per Adjusted Patient Day (Bars) UHC Best Quartile (Dashed Line) MCGs 15 Best Quartile (Blue Line) UHC-University HealthSystem Consortium benchmark, MCG 15-Master Compare Group HBSI benchmark

  15. CostCost per Adjusted Patient Day (Bars) UHC Best Quartile (Dashed Line) MCGs 15 Best Quartile (Blue Line) UHC-University HealthSystem Consortium benchmark, MCG 15-Master Compare Group HBSI benchmark

  16. Summary of Results • Increased volume • Increased net revenue • Cost increases

  17. Budget Targets for FY04 • Positive operating margin • Improve cash position • Fund critical infrastructure needs

  18. Key Elements of Budget(Volume and Revenue) • Inpatient volume - flat • Outpatient volume increase 1.5% • Charge rate increase 5% • Medicaid increase 5% • State appropriation unchanged • Improved manage care • Continue revenue cycle improvement • Convert 5 Psych Research beds to inpatient Psych beds

  19. Key Elements of Budget(Expense) • 3% salary increase plus contractual requirements • 4.6% supply increase • Bad debt increase from FY03 (3.8% vs. 3.1%) but below FY02 of 5.2% (MCHC first quarter 2003 average 4.2%)

  20. Expense Control Initiatives • Supply chain • Operating Room supplies and equipment • Overtime • FTE creep • Pay structure

  21. Key Elements of Cash Goal • Profitability • Reduce A/R days • Reduce inventory • Control capital spending

  22. Environment • NMH: New women’s hospital • Stroger Cook County Hospital: new facility • Rush: Major building program • WSVA: New hospital planned • Michael Reese Hospital: may emerge from bankruptcy • Mercy Hospital: $50 million cash infusion • Medicare/Medicaid: continuing budget pressure • Commercial insurers: employers pushing back on large premium increases

  23. Summary Important Factors • Maintain volume • Control expenses • Supplies • Salaries • Improve revenue cycle • Large unmet capital needs

  24. Questions

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