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November 27, 2012

Surgeries down for October

Transcript Staff The Norman Transcript

NORMAN — Norman Regional Health System Chief Financial Officer Ken Hopkins reported that October net revenue was $31 million, down 3 percent from budget predictions of $32 million, in part because of a decrease in inpatient surgical patients.

Inpatient surgical cases were 87 under budget. Denials and government audit adjustments were other important factors that reduced net revenue in October, Hopkins reported.

Non-operating income, which represents mostly investments, was significantly below budget, showing a loss of $131,707 compared to budget predictions of $342,918. That’s a variance of $474,625, or 138 percent.

However, non-operating expenses are over budget predictions for the year-to-date totals, showing more than $2 million YTD coming in 65 percent above budget projections.

Bad debt was up, but charity cases were down. Combined, bad debt and charity totaled nearly $7.7 million, which was favorably below the predicted $8.9 million.

Hopkins reported that year-to-date net revenue was $109.5 million, which is 7 percent less than budget predictions.

On a more positive note, year-to-date operating expenses were $109.6 million, running favorably below budget predictions of $112.7 million in expenses. Operating expenses for October were $28.4 million, comparing favorably to the projected $28.5 million budgeted for expenses.

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