FINANCIAL
PERFORMANCE
Although the Balanced Budget Act and declines in federal, state and managed care reimbursement rates in FY99
provided hurdles for revenue growth, Loyola University Health System’s net patient revenue grew at a robust pace.
FY99 marked LUHS’ second straight year of double-digit percentage growth in net patient revenue. Net patient
revenue increased by more than 10 percent to nearly $448.3 million. This growth was accomplished by a 2 percent increase in acute admissions, 22 percent increase in observation cases, 3 percent increase in inpatient surgical cases, and a 20 percent increase in primary care clinic visits.
Higher net patient revenue can be attributed to several factors including continued growth in Obstetrics, Burn/ Trauma, Bone Marrow Transplantation, Child Health, Cardiac and Heart Transplantation and Neurosciences, as well as the maturing of the LUHS primary care network (seen in a 20 percent increase of clinic visits).
Guided by our Jesuit Catholic mission, LUHS provided more than $29.1 million of charity and uncompensated care to patients within the LUHS communities.
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During FY99, LUHS funded its capital plan with operating cash flows and bond proceeds. During FY99, net cash flows from operating activities totaled $32.6 million. Cash and investments totaled $163.76 million as of June 30, 1999.
As LUHS celebrates its 30th anniversary, our cornerstone for success continues to be our commitment to complex medical care that will require continued investment in medical technology and
scientific advancement. During FY99, LUHS invested $35.64 million in facilities, medical equipment, information systems and other strategic related programs, including the development of the the Ronald McDonald Children’s Hospital of Loyola, RIC&LOYOLA Acute Rehabilitation Unit, an expansion and upgrade of the cardiac catheterization laboratory, an upgrade to the MRI suite and the purchase of a state-of-the-art patient scheduling system.
As we conclude FY99 and look ahead to year 2000, Loyola University Health System’s
financial stability and operating performance provide a strong foundation for achieving our most important goal — providing excellent care to our patients and treating the human spirit.
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Consolidated Statements of Financial Position
(In $000s)
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1999 |
1998 |
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Current Assets (Including Cash and Short-Term Investments)
Land Buildings and Equipment, Net
All Other Assets |
$270,316
197,887
93,192 |
$189,087
186,906
151,987 |
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| Total Assets |
$561,395 |
$527,980 |
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Current Liabilities
Long-Term Debt
All Other Liabilities
Net Assets |
$ 88,899
200,203
59,595
212,698 |
$ 60,831
199,309
58,745
209,095 |
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| Total Liabilities and Net Assets |
$561,395 |
$527,980 |
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Consolidated Statements of Operations (In $000s)
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1999 |
1998 |
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Total Revenues
Total Expenses |
$483,174
471,341 |
$439,386
429,145 |
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Excess Revenues over Expenses
(For reinvestment in patient care programs and facilities) |
$ 11,833 |
$ 10,241 |
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