Thursday, March 31, 2016

Tracking Hospital Finances

   The problem?
   Hospital financial data often involve millions and even billions of dollars.
   Trouble is, most walk-around folk have trouble relating to amounts of this mega sort.
   Which is how and why the American health care industry
developed baselines like:
   Adjusted Admissions
   Adjusted Patient Days

   Each of which enable policy makers to track hospital financial trends over a period of time -- or compare the financial "health" of one hospital to another.
   FYI - Adjusted Admissions and Adjusted Patient Days are produced using a health care industry-wide formula that accounts for BOTH inpatient  and outpatient populations at a given hospital or group of hospitals.
   Here's how it works using the current financial woes at the North Broward Hospital District (dba Broward Health- with a gross annual budget of nearly $4 billion.
                               Broward Health
                        Financial Trends
                            (Per Adjusted Admission)
                                     Total System
            FY                      2013             2016*

            Admissions       120,046           79,116
            Gross Charges   $31,702          $33,256
            Bad Debt           ($3,065)        
            Charity Care      ($2,711)         ($1,344)
             3rd Party/Other ($18,733)       ($20,659)
            Total                  ($24,509)       ($25,675)


             Medicare            $1,552           $1,599
             Medicaid             $794             $408
             Insurance           $4,772           $5,783  

             Other                  $68              ($209)           
             Reimbursed        $7,186          $7,581
             Other Revenue   $1,048          
             Total Operating  
                Revenue         $8,234           $8,156
               Revenue          $1,754           $829

            Total Revenue   $9,988        $8,985
            Expenses           ($9,498)        ($9,733)
            Surplus               $490             ($748)
                                                            *8 months

           Source: North Broward Hospital District

    Bottom line?
    The North Broward Hospital District is suffering from some serious financial health  problems. 


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