Review  budget report that includes current month, YTD, the annualized YTD projections, and the prior year actuals to use for trending purposes.

Use the 2021 worksheet/tab to build a budget for 2021 based on the assumptions listed below. Include the 2020 & 2019 YTD Actual as well.

Assumptions:

1) The # of stays or procedures will increase by 5% for both Inpatient days and Outpatient procedures

2) The revenue per stay or procedure will decrease by 1%

3) Both the labor & the supply costs will increase by 2%

4) What is the break even point for both inpatient and outpatient for the projected annualized 2020? For 2

Transcribed Image Text:

2020 2021 Wk 5 Budget Building.xlsx Grayson General Hospital Budget Report - June 2020 Current Month Jun20 Year To Date 2020 Annualized Projectio Revenue Actual Budget Variance % Variance Actual Budget Variance % Variance Actual Inpatient stays 2,900 2,500 400 Inpatient Revenue $1,522,500 $1,250,000 $272,500 16.0% 21.8% 17,400 $9,135,000 15,000 $7,500,000 2,400 $1,635,000 16.0% 34,800 Budget 30,000 21.8% $18,270,000 $15,000,000 Variance 4,80 $3,270,00 Outpatient Procedures Outpatient Revenue 1,250 $293,750 1,000 $250,000 250 $43,750 25.0% 17.5% $1,762,500 7,500 6,000 $1,500,000 1,500 $262,500 25.0% 17.5% 15,000 12,000 $3,525,000 $3,000,000 3,00 $525,00 Total Revenue $1,816,250 $1,500,000 $316,250 21.1% $10,897,500 $9,000,000 $1,897,500 21.1% $21,795,000 $18,000,000 $3,795,00 Operating Expenses Inpatient Labor (fixed costs) $1,350,000 $1,225,000 Inpatient Supplies (variable costs) $475,000 $500,000 Total Inpatient Expenses $1,825,000 $1,725,000 $125,000 -$25,000 $100,000 10.2% $8,100,000 $7,350,000 -5.0% $2,850,000 $3,000,000 5.8% $10,950,000 $10,350,000 $750,000 -$150,000 $600,000 10.2% -5.0% 5.8% $16,200,000 $14,700,000| $1,500,00 $5,700,000 $6,000,000 -$300,00 $21,900,000 $20,700,000 $1,200,00 Outpatient Labor (fixed costs) $137,500 $150,000 -$12,500 Outpatient Supplies (variable costs) $55,000 $50,000 $5,000 -8.3% 10.0% Total Outpatient Expenses $192,500 $200,000 -$7,500 $825,000 $900,000 $330,000 -3.8% $1,155,000 $1,200,000 -$75,000 -8.3% $300,000 $30,000 10.0% -$45,000 -3.8% $1,650,000 $1,800,000 $660,000 $600,000 $2,310,000 $2,400,000 -$150,00 $60,00 -$90,00 Total Operating Expenses $2,017,500 $1,925,000 $92,500 4.8% $12,105,000 $11,550,000 $555,000 4.8% $24,210,000 $23,100,000 $1,110,00 Dashboard Calendar To Do Notifications Inbox 2020 2021 Wk 5 Budget Building.xlsx Grayson General Hospital Budget Report - June 2020 Current Month Jun20 Year To Date 2020 Annualized Projectio Revenue Actual Budget Variance % Variance Actual Budget Variance % Variance Actual Inpatient stays 2,900 2,500 400 Inpatient Revenue $1,522,500 $1,250,000 $272,500 16.0% 21.8% 17,400 $9,135,000 15,000 $7,500,000 2,400 $1,635,000 16.0% 34,800 Budget 30,000 21.8% $18,270,000 $15,000,000 Variance 4,80 $3,270,00 Outpatient Procedures Outpatient Revenue 1,250 $293,750 1,000 $250,000 250 $43,750 25.0% 17.5% $1,762,500 7,500 6,000 $1,500,000 1,500 $262,500 25.0% 17.5% 15,000 12,000 $3,525,000 $3,000,000 3,00 $525,00 Total Revenue $1,816,250 $1,500,000 $316,250 21.1% $10,897,500 $9,000,000 $1,897,500 21.1% $21,795,000 $18,000,000 $3,795,00 Operating Expenses Inpatient Labor (fixed costs) $1,350,000 $1,225,000 Inpatient Supplies (variable costs) $475,000 $500,000 Total Inpatient Expenses $1,825,000 $1,725,000 $125,000 -$25,000 $100,000 10.2% $8,100,000 $7,350,000 -5.0% $2,850,000 $3,000,000 5.8% $10,950,000 $10,350,000 $750,000 -$150,000 $600,000 10.2% -5.0% 5.8% $16,200,000 $14,700,000| $1,500,00 $5,700,000 $6,000,000 -$300,00 $21,900,000 $20,700,000 $1,200,00 Outpatient Labor (fixed costs) $137,500 $150,000 -$12,500 Outpatient Supplies (variable costs) $55,000 $50,000 $5,000 -8.3% 10.0% Total Outpatient Expenses $192,500 $200,000 -$7,500 $825,000 $900,000 $330,000 -3.8% $1,155,000 $1,200,000 -$75,000 -8.3% $300,000 $30,000 10.0% -$45,000 -3.8% $1,650,000 $1,800,000 $660,000 $600,000 $2,310,000 $2,400,000 -$150,00 $60,00 -$90,00 Total Operating Expenses $2,017,500 $1,925,000 $92,500 4.8% $12,105,000 $11,550,000 $555,000 4.8% $24,210,000 $23,100,000 $1,110,00 Dashboard Calendar To Do Notifications Inbox