Financial Update Faculty Associates, Inc. Board of Directors - PowerPoint PPT Presentation

The University of Florida College of Dentistry Financial Update Faculty Associates, Inc. Board of Directors Meeting June 14, 2018

HIGH: $17.82M 06.11.18 90-Day Reserve 6.70M LOW: ($1.07M) 01.07.13 Clinical cash balance as of 06.11.18: $17,824,600

May FY18 Summary Statement of Revenues and Expenditures Revenues Current FY Prior Year Difference Percent Actual Actual Variance ($70,274) (0.4%) Clinical $18,098,032 $18,168,306 Revenue ($7,208) (4.6%) Ancillary $149,208 $156,416 Revenue $1,072,392 19.1% Contract and $6,700,838 $5,628,445 GME Revenue $9,692 6.5% Radiology $158,185 $148,493 Internal Revenue $341 12.5% Interest $3,080 $2,739 Income $1,004,944 4.2% Total $25,109,343 $24,104,399 Revenues

May FY18 Summary Statement of Revenues and Expenditures Expenditures Current FY Prior Year Difference Percent Actual Actual Variance $1,083,797 8.6% Personnel $13,627,926 $12,544,130 Expenses ($450,967) (6.4%) Other $6,644,336 $7,095,303 Operating Expenses Administrative ($33,413) (3.8%) Overhead $849,900 $883,313 $599,417 2.9% Total $21,122,163 $20,522,745 Expenses

May FY18 Summary Statement of Revenues and Expenditures Current FY Prior Year Difference Percent Actual Actual Variance $405,526 11.3% Change in Net $3,987,180 $3,581,654 Assets

Changes in Net Position As of May 31, 2018 400,000 300,000 200,000 100,000 0 (100,000) (200,000) Community Endodontics Oral Oral Surgery Orthodontics Pediatric Periodontics Restorative Dentistry Dept Diagnostic Dept Dept Dentistry Dept Dept Dept Sciences Dept Dept Changes in Net Position (163,172) 107,576 82,544 94,295 132,016 385,503 (65,258) 151,726 6/13/18

Clinical Revenue Budget to Actual As of May 31, 2018 4,000,000 3,500,000 3,000,000 2,500,000 2,000,000 1,500,000 1,000,000 500,000 0 Community Clinic Admin Endodontics Oral Oral Orthodontic Pediatric Periodontics Restorative Dentistry Dept Diagnostic Surgery s Dept Dentistry Dept Dept Dept Sciences Dept Dept Dept Actual 3,746,916 1,832,480 999,417 1,902,875 3,398,420 1,101,164 1,293,593 999,708 3,135,920 Budget 3,757,802 2,236,667 1,023,264 2,044,863 3,732,422 1,153,357 1,203,125 1,008,333 2,955,842 6/13/18

AR Aging by Bucket (as of 05.31.18) $2,500,000.00 as of 6.30.12 60% of all 42% $2,000,000.00 A/R 90 days 37% old or less $1,500,000.00 $1,000,000.00 12% $500,000.00 5% 4% $- 0-30 31-60 61-90 91-120 Over 120 $3,000,000 as of 05.31.18 57% 79% of all $2,500,000 A/R 90 days $2,000,000 or less $1,500,000 $1,000,000 17% 14% 8% $500,000 4% $- 0-30 31-60 61-90 91-120 Over 120

FACULTY ASSOCIATES, INC ACCOUNTS RECEIVABLE AGING Patient 6.30.12 05.31.18 Of $2.00M in 77% of self-pay AR $ 1,044,113.59 $ 1,097,080.50 0-30 34% 55% self-pay A/R, less than 90 days $ 273,098.93 $ 233,249.27 31-60 9% 12% $1.53M is less old (48% in 2012) $ 163,157.12 $ 202,657.77 61-90 5% 10% than 90 days 91-120 $ 121,575.40 $ 91,144.68 4% 5% old Over 120 $ 1,469,567.08 $ 378,856.51 48% 19% $ 3,071,512.12 $ 2,002,988.73 6.30.12 05.31.18 Insurance Of $2.78M in 80% of insurance $ 901,078.35 $ 1,632,854.60 0-30 57% 59% insurance A/R, A/R less than 90 $ 316,173.20 $ 426,285.50 31-60 20% 15% 61-90 $ 73,845.16 $ 172,654.05 $2.23M is less 5% 6% days (82% in 2012) $ 52,662.88 $ 108,732.37 91-120 3% 4% than 90 days $ 240,041.02 $ 443,226.47 Over 120 15% 16% old $ 1,583,800.61 $ 2,783,752.99 Totals 6.30.12 05.31.18 $ 1,945,191.94 $ 2,729,935.10 0-30 42% 57% $ 589,272.13 $ 659,534.77 31-60 13% 14% $ 237,002.28 $ 375,311.82 61-90 5% 8% 91-120 $ 174,238.28 $ 199,877.05 4% 4% $ 1,709,608.10 $ 822,082.98 Over 120 37% 17% $ 4,655,312.73 $ 4,786,741.72

Important Dates • June 15 – State budget due to be entered into Hyperion • July 9-11 – Practice plan pre-audit • July 15 – All funds budget due to be entered into Hyperion • August 20-24 – Practice plan audit

Update on Easy Markit and Patient Access

Questions?