BUDGET SURPLUS REPORTED FOR HOSPITAL.Byline: Karen Karen Any member of a variety of tribal peoples of southern Myanmar (Burma). Constituting the second largest minority in Myanmar, the Karen are not a unitary group in any ethnic sense, as they differ among themselves linguistically, religiously, and economically. Maeshiro Staff Writer LANCASTER Lancaster, city, England Lancaster (lăng`kəstər), city (1991 pop. 43,902) and district, county seat of Lancashire, NW England, on the Lune River. - Antelope Valley This article is about the Los Angeles County region. For the census-designated place in Wyoming, see Antelope Valley-Crestview, Wyoming. The Antelope Valley Hospital finished the 2004-05 fiscal year with an operating budget Noun 1. operating budget - a budget for current expenses as distinct from financial transactions or permanent improvements budget items, operating cost, operating expense, overhead - the expense of maintaining property (e.g. surplus of about $66,000, an improvement over the nearly $14 million loss from the prior year, an audit shows. Lower spending on consultants and temporary nurses and higher patient revenue through more efficient operations and renegotiated managed care contracts were cited as factors in the turnaround Turnaround A situation where a company that has had poor performance for an extended period of time experiences a positive reversal. Notes: A speculator may profit from a turnaround if he or she accurately anticipates the improvement of a poorly performing company. , hospital officials said. ``We've just become a lot more efficient in what we're doing and we've managed to decrease depending on traveling nurses traveling nurse A nurse who travels to find employment because of the relative lack of opportunity in his/her local area for help and spent a lot less on lawyers,'' hospital director June Snow said. ``It's especially something after we've been through what we've been through.'' Because the 379-bed hospital is owned by a public agency, the Antelope Valley Healthcare District, surplus income must be invested back into equipment, facilities or services. The $218 million operating 2005-06 budget adopted by the hospital board in August projects breaking even by the end of the current fiscal year. Since July, the hospital has ended each month with earnings ahead of budget, indicating the financial recovery is continuing, hospital officials said. ``Obviously we've got a ways to go to complete our financial recovery. We are optimistic op·ti·mist n. 1. One who usually expects a favorable outcome. 2. A believer in philosophical optimism. op of continued improvements through this year,'' said Leon Choiniere, vice president of finance. Net patient revenue went up $11.2 million, or 6 percent, to $196.4 million in the 12 months ending June 30. ``It was a combination of improvement in managed care contracts and in operational efficiencies, such as patient flow and management of patient care and timely discharge,'' Choiniere said. The hospital also reduced spending on temporary nurses by $3.5 million because hospital nurses worked more hours after wages increased with a union contract, Choiniere said. The hospital cut legal and consulting fees by $1.5 million, and investment income increased by $3 million, Choiniere said. Salaries and wages went up $2.65 million, or 3 percent, to $93.4 million, while employee benefits increased $2.2 million, or 7 percent, to $32.1 million, records show. The hospital's work force increased 2.3 percent, the equivalent of 47 full-time positions. Total operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. went down 1.3 percent to $205.2 million, records show. Karen Maeshiro, (661) 267-5744 karen.maeshiro(at)dailynews.com |
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