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<br /> <br />Agenda Item Number: <br /> <br />ORANGE COUNTY BOARD OF HEALTH <br />AGENDA ITEM SUMMARY <br /> <br />Meeting Date: August 26, 2015 <br /> <br />Agenda Item Subject: 4th Quarter Financial Report FY 14-15 <br /> <br />Attachment(s): 4th Quarter Financial Report <br /> 4th Quarter Billing Dashboard <br /> <br />Staff or Board Member Reporting: Colleen Bridger <br /> <br />Purpose: ___ Action <br /> _X_ Information only <br /> ___ Information with possible action <br /> <br /> <br />Summary Information: <br /> <br />Total Health Department Revenue: Average YTD monthly revenue in FY15 after the <br />4th Quarter is $205k/month or $2.5M YTD, representing 100.15% of our overall <br />budgeted revenue for the year. This is an increase from an average of $174k/month in <br />FY14. Year-end revenue is in line with initial budget projections ($207k/m, $2.5M/y). <br />Due to slightly exceeding our anticipated revenues, budgeted Medicaid Maximization <br />funds were not transferred into the budget at the end of the fiscal year, which is in <br />accordance with Health Department practices. Expenses were lower than budgeted at <br />93%. <br /> <br />Total Billing Accuracy: After surpassing our billing accuracy goal of 80% in FY 13 -14, <br />we set a new goal of reaching 90% in FY 14-15. The average billing accuracy rate for <br />medical at the end of FY 14-15 is 91% as compared to 86% in FY 13-14 and the <br />average rate for dental for FY 14-15 is 96% as compared to 73% in FY 13-14 (Dental <br />only had 7 months of billing accuracy data for FY 13-14 due to the addition of <br />processing payments through the Eaglesoft system.) <br /> <br />Progress continues in refining our definition of billable claims, though the billing <br />accuracy percent presented here always reflects a conservative estimate of accuracy. <br />Though reducing the proportion of unpaid Self -Pay claims is a work in progress, it’s not <br />likely we will ever recover 100% of those claims. <br /> <br />Dental Earned Revenue by Source: Dental earned revenue has consistently <br />increased from year to year, and FY 14-15 average monthly revenue ($35k/month)