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Agenda Item Number: <br /> <br /> <br /> <br />ORANGE COUNTY BOARD OF HEALTH <br />AGENDA ITEM SUMMARY <br /> <br />Meeting Date: May 27 , 2015 <br /> <br />Agenda Item Subject: Quarterly Financial Reports <br /> <br />Attachment(s): 3rd Quarter Billing Dashboard <br /> Quarterly Financial Report <br /> <br />Staff or Board Member Reporting: Rebecca Crawford <br /> <br />Purpose: ____ Action <br /> _X _ Information only <br /> ____ Information with possible action <br /> <br /> <br />Total Health Department Revenue: Average YTD monthly revenue in FY15 after the <br />3rd Quarter is $200k/month or $1.8M YTD, representing 74% of our overall budgeted <br />revenue for the year. This is an increase from an average of $174k/month in FY14. <br />Revenue is slightly below budget projection ($207k/m, $2.5M/y), however, some <br />allocations, such as for Medicaid Maximization, will be transferred into the budget at the <br />end of the fiscal year only if needed. Expenses are lower than budgeted at 70%. <br /> <br />Total Billing Accuracy: Medical increased its billing accuracy by 11% from 73% in FY <br />12-13 to 84% in FY 13-14. After surpassing our billing accuracy goal of 80% in FY 13- <br />14, we set a new goal of reaching 90% in FY 14-15. Current, combined accuracy this <br />quarter in medical and dental clinics is 88.6% (medical: 82%, dental: 95%). <br /> <br />Billing accuracy for most recent months is artificially reduced as many of the claims from <br />the most recent quarter are still being processed. Monthly numbers from the most <br />current quarter will increase (and less so with previous quarters) and will be updated on <br />future dashboards as those back claims receive payment. Progress continues in <br />refining our definition of billable claims, though the billing accuracy percent presented <br />here always reflects a conservative estimate of accuracy. Though reducing the <br />proportion of unpaid Self-Pay claims is a work in progress, it’s not likely we will ever <br />recover 100% of those claims. Therefore, 90% is still an aggressive, but achievable <br />goal. <br /> <br />Dental Earned Revenue by Source: Dental earned revenue has consistently <br />increased from year to year, and our current average monthly revenue ($34k/month) <br />exceeds our budget projection ($32k/month).