Complete a variance analysis $($variance & percentage$)$ on all line items on St$.$ Elizabeth$$s Statement of Operations and Operating Indicators below. Develop a Variance Analysis Report that you will present to senior leadership in the monthly operating board meeting. Be able to explain the variance $($without using the calculation as part of your explanation$)$ and give recommendations on how to move forward. What key information do you want to highlight in your response$$what is the most important information to call senior leadership's attention to$?$St$.$ Elizabeth

Statement of Operations

December $31,2023$

Actual Budget

Routine $22,401,32921,260,601$

Ancillary $100,643,25396,342,124$

Total Inpatient Revenue $123,044,582117,602,725$

Outpatient Revenue $73,052,29073,467,933$

Total Patient Revenue $196,096,872191,070,658$

Other Revenue $1,035,1021,054,363$

Gross Revenue $197,131,974192,125,021$

Provision for Charity Care $8,589,6527,985,650$

Other Revenue Deductions $131,251,287127,236,628$

Total Deductions From Revenue $139,840,939135,222,278$

Net Revenue $57,291,03556,902,743$

Salaries & Benefits $26,246,78824,394,341$

Contract Labor $220,302230,652$

Supplies $8,023,4558,521,581$

Professional Fees $3,025,0323,050,608$

Depreciation $2,610,9762,147,640$

Contract Services $4,105,6013,652,013$

Repairs & Maintenance $3,250,6023,106,405$

Rents & Utilities $1,252,4651,249,463$

Bad Debts $2,869,7152,659,546$

Other Operating Expenses $519,272428,285$

Total Operating Expenses $52,124,20849,440,534$

Net Income $5,166,8277,462,209$

St$.$ Elizabeth

Operating Indicators

December $31,2023$

Actual Budget

Admissions $4,0744,062$

Patient Days $27,93227,255$

ALOS $6\mathrm{.}866\mathrm{.}71$

Average Daily Census $76\mathrm{.}5374\mathrm{.}67$

Outpatient Visits $43,76551,582$

Deliveries $600620$

ER Visits $12,81410,410$

Inpatient Surgeries $1,6902,027$

Outpatient Surgeries $8,7169,799$

Net Days in AR $5354$

Bad Debt$/$Charity $\%11\mathrm{.}50\%7\mathrm{.}10\%$