Financial Update June 11, 2018 OPEN – HEALTH AFF – INFO 1 – 1
OPERATING RESULTS April F2018 OPEN – HEALTH AFF – INFO 1 – 2
Patient utilization – average daily census April F18 450.0 1.90 406.9 386.9 379.7 400.0 11.4 10.4 9.1 1.85 51.5 350.0 49.5 48.3 300.0 1.80 91.7 82.4 83.8 250.0 1.75 200.0 1.75 1.74 1.73 150.0 1.70 252.3 244.6 238.5 100.0 1.65 50.0 - 1.60 F2017 Plan F2018 UH WCH MUPC MOI Case mix index • Average Daily Census was 7.2% higher than plan reflecting a higher census at all hospitals • The higher census at University Hospital reflected a more severe infectious disease season, additional staffed beds, and market share growth • The higher census at the Women’s and Children’s Hospital reflected a higher neonatal census • Patient acuity as measured by case-mix-index was higher than plan reflecting an increase in acuity at the Orthopaedic Institute and Psychiatric Hospital OPEN – HEALTH AFF – INFO 1 – 3
Patient utilization – surgical volume April F18 • Surgical volume was near plan and slightly favorable to prior year • Higher volume at the Women’s & Children’s Hospital, due mostly to Ophthalmology, offset unfavorable volume at the Orthopaedic Institute due primarily to the timing of surgeon ramp-up The mix of outpatient to inpatient surgical cases was 63.9% compared to a plan of 63.2% reflecting • higher outpatient activity at both University Hospital and Women’s & Children’s Hospital OPEN – HEALTH AFF – INFO 1 – 4
Patient utilization – clinic visits April F18 600,000 563,678 538,788 532,223 56,208 53,802 52,832 500,000 14,552 14,042 15,005 129,053 120,524 118,587 400,000 300,000 200,000 363,865 350,420 345,799 100,000 - F2017 Plan F2018 UH WCH MUPC MOI • Clinic visits were 4.6%, or 24,890 visits, favorable to plan with favorable visits at all operating units • The favorability at University Hospital reflected higher visits at various Family Medicine clinics, Eye Institutes and the Ellis Fischel Cancer center due to additional physicians and productivity The favorability at the Women’s & Children’s Hospital reflected higher visits at the Autism and • Hearing centers OPEN – HEALTH AFF – INFO 1 – 5
Financial performance April F18 FY18 Annual Moody's A Actual Plan Consolidated Financial Results Prior Year Plan Rated ($000'S) $838,504 $780,494 Total Operating Revenue $770,858 $938,952 748,163 737,186 Operating Expenses* 692,426 886,446 90,341 43,308 Operating Income 78,432 52,506 (22,230) (16,047) Non-operating Expenses, Net (16,651) (17,739) $68,111 $27,261 Change in Net Assets $61,781 $34,767 *Includes University purchased clinical services annual budget of $44 million. Financial Ratios and Benchmarks 10.8% 5.5% Margin Percent 10.2% 5.6% 3.2% 6.7% 2.9% Annualized Return on Total Assets 6.4% 2.9% 4.6% 177.7% 166.3% Cash to Total Debt 151.3% 169.6% 121.5% 27.9% 29.0% Debt to Capitalization 30.9% 28.6% 33.9% 5.4 3.6 Maximum Annual Debt Service Coverage 5.2 3.6 5.0 228.7 216.4 Days Cash on Hand 224.3 217.8 215.5 48.9 51.0 Net Days Revenue in AR 53.9 51.0 48.1 Operating Income of $90 million was $47 million favorable to plan driven primarily by higher patient • utilization, favorable service-mix, and labor cost efficiencies • Net Income of $68 million was $41 million favorable to plan driven by favorable operating income and investment income, reduced by higher performance based academic mission support OPEN – HEALTH AFF – INFO 1 – 6
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