Five things to know:
1. Total operating revenue for the six-month period ended Dec. 31 was $193.2 million, which was 4.2% higher than the same period last year. Operating expenses were $158.5 million, a number 3.4% greater than the same period last year.
2. Operating income estimates came in $5.1 million higher than budgeted. The -1% operating budget was favorable to the budgeted amount of -1.1%, the report said.
3. Total operating revenue was $115.5 million (2.5%) above budget, which was driven by net patient service revenue ($40.7 million), insurance premium revenue ($33.1 million) and other revenue ($30.8 million), mainly due to higher 340B contract pharmacy revenue.
4. Total operating expenses were $110.4 million (2.3%) higher than budgeted. The increase was driven by unfavorable variance for salaries and wages ($44 million), supplies ($19.9 million), drugs ($45.6 million) and other expenses ($36.4 million). These were partially offset by variance for insurance services medical expense ($22.5 million). Temporary staffing costs, included in the other expense line item, were $30.5 million less than the prior year.
5. Clinical operations experienced a $80.6 million loss, which was $12.8 million higher than budgeted. Jefferson’s insurance operations saw an operating gain of $18.6 million, which was $4.6 million favorable to the budget. Including risk-based contracts of hospital providers, the insurance component saw an operating gain of $86.6 million, which was $35.7 million favorable to budget, the report said.
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