Question: provide a long-term corrective action plan for the following variance report: Operating Revenues Account Description Current Month Actual Current Month Variance Current Month Budget Year-to-Date
provide a long-term corrective action plan for the following variance report:
Operating Revenues
| Account Description | Current Month Actual | Current Month Variance | Current Month Budget | Year-to-Date Actual | Year-to-Date Variance | Year-to-Date Budget |
|---|---|---|---|---|---|---|
| Inpatient Revenue | $9,691 | ($960) | $10,651 | $96,662 | $6,706 | $89,956 |
| Ambulatory Surgery | 3,219 | 937 | 2,282 | 14,488 | 844 | 13,644 |
| Other Patient Revenue | 1,085 | (326) | 1,411 | 10,874 | (672) | 11,546 |
| Private Ambulatory | 552 | 6 | 546 | 4,958 | 272 | 4,686 |
| Total Patient Revenues | 14,547 | (343) | 14,890 | 126,982 | 7,150 | 119,832 |
| Other Revenues | 2,659 | (560) | 3,219 | 26,000 | 40 | 25,960 |
| Investment Income | 161 | 29 | 132 | 322 | (70) | 392 |
| Net Assets Released | 252 | 209 | 43 | 957 | 488 | 469 |
| Contributions | 39 | (29) | 68 | 176 | (263) | 439 |
| Total Revenues | 17,658 | (694) | 18,352 | 154,437 | 7,345 | 147,092 |
Operating Expenses
| Account Description | Current Month Actual | Current Month Variance | Current Month Budget | Year-to-Date Actual | Year-to-Date Variance | Year-to-Date Budget |
|---|---|---|---|---|---|---|
| Salaries and Wages | 7,317 | (345) | 7,662 | 66,068 | 1,519 | 64,549 |
| Employee Benefits | 1,723 | (180) | 1,903 | 17,069 | 441 | 16,628 |
| Supplies | 3,809 | 449 | 3,360 | 38,322 | 3,605 | 34,717 |
| Medical Fees | 254 | 9 | 245 | 2,554 | 240 | 2,314 |
| Purchased Services | 1,016 | 37 | 979 | 10,219 | 961 | 9,258 |
| Energy | 285 | (54) | 339 | 2,630 | (27) | 2,657 |
| Insurance | 538 | (51) | 589 | 4,942 | (3) | 4,945 |
| Interest | 258 | (32) | 290 | 2,328 | (120) | 2,448 |
| Depreciation and Amortization | 486 | (79) | 565 | 4,103 | (984) | 5,087 |
| Provision for Bad Debt | 554 | 34 | 520 | 5,349 | 381 | 4,968 |
| Total Operating Expenses | $16,240 | ($212) | $16,452 | $153,584 | $6,013 | $147,571 |
Operating Revenues and Operating Expenses Totals
| Description | Current Month Actual | Current Month Variance | Current Month Budget | Year-to-Date Actual | Year-to-Date Variance | Year-to-Date Budget |
|---|---|---|---|---|---|---|
| Surplus (Deficits) from Operations | $1,418 | ($482) | $1,900 | $853 | $1,332 | ($479) |
| Non-Operating Activity | (41) | 0 | (41) | 176 | (380) | 556 |
| Excess of Revenues over Expenses | $1,377 | ($482) | $1,859 | $1,029 | $952 | $77 |
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