Quarterly Financials
The quarterly financial reports are out from the hospital. Overall, things have continued to decline. Projections on the number of heart procedures are also lower than predicted. The results are as follows
Operating margin is at 62% of the projected goal
Total Margin is at 64% of the projected goal
Day’s cash on hand is at 57% of the projected goal
Days in A/R is at 87% of the projected goal
Inpatient satisfaction is 63% with the goal being 75%
Outpatient satisfaction is 34% with a goal of 75%
Outpatient surgery satisfaction is 41% with a goal of 75%
ER satisfaction is 47 % with a goal of 75%
These are far worse than last year, but they continue to get marginalized. When the issue is brought up, there are always excuses but rarely accountability. Blame is shifted everywhere except for the top.
All of these numbers are significantly under the projected budget even though we were told the budget was conservative.
Physician satisfaction has not been recently measured, but with the surgeons choosing to build their own surgical center and others waiting for the new hospital to be built, and the OB’s really struggling, these ratings would also be low.
All of this data means that the CEO is going to be “putting the word out” through his indirect channels that end of the year bonuses will be minimal at best. Employee satisfaction will suffer at that point. Most employees have no control over most of these operational figures, but they will certainly feel the impact of poor management. The Board continues to allow these declines because of a reluctance to make needed changes. The financials will have to continue to worsen before some will be forced to finally act.
I can hear the spin already in regard to these numbers. It will be the fault of everyone except the administration. If some of these numbers decline too much lower, the bonding insurer will have to be notified based on the stipulations made in the contract.
It is Derby Weekend and for everyone heading to the Oaks or Derby, good luck on your picks!!
Operating margin is at 62% of the projected goal
Total Margin is at 64% of the projected goal
Day’s cash on hand is at 57% of the projected goal
Days in A/R is at 87% of the projected goal
Inpatient satisfaction is 63% with the goal being 75%
Outpatient satisfaction is 34% with a goal of 75%
Outpatient surgery satisfaction is 41% with a goal of 75%
ER satisfaction is 47 % with a goal of 75%
These are far worse than last year, but they continue to get marginalized. When the issue is brought up, there are always excuses but rarely accountability. Blame is shifted everywhere except for the top.
All of these numbers are significantly under the projected budget even though we were told the budget was conservative.
Physician satisfaction has not been recently measured, but with the surgeons choosing to build their own surgical center and others waiting for the new hospital to be built, and the OB’s really struggling, these ratings would also be low.
All of this data means that the CEO is going to be “putting the word out” through his indirect channels that end of the year bonuses will be minimal at best. Employee satisfaction will suffer at that point. Most employees have no control over most of these operational figures, but they will certainly feel the impact of poor management. The Board continues to allow these declines because of a reluctance to make needed changes. The financials will have to continue to worsen before some will be forced to finally act.
I can hear the spin already in regard to these numbers. It will be the fault of everyone except the administration. If some of these numbers decline too much lower, the bonding insurer will have to be notified based on the stipulations made in the contract.
It is Derby Weekend and for everyone heading to the Oaks or Derby, good luck on your picks!!
posted by Anonymous at 6:15 AM
11 Comments:
What goals are they meeting? Surely there are some. You know, fair and balanced, just like Fox News. (smile)
Really, I am curious. Those areas posted would seem to be pretty critical and the numbers are extremely poor. What are they hanging their hat on?
I had the misfortune of trying to visit someone in hospital yesterday. After being directed by someone at one desk, to another in-formation area, it seems that no-body could even tell us where to find an elevator. The last person we spoke with said she had no idea and she worked there. We finally gave up and took the Grand Stairway. What a waste of taxpayers money. Does anyone really care about all the beautiful wood and plastic greenery that is around the entrance, when they enter the hospital. I would think that they would be more interested in receiving the very best and most efficient care possible. It is not what you see but what you get that matters. It's a joke that they have all this room and now they can't even use it because of lack of staffing. On the other hand, lets hope they don't open up any other rooms, because when that happens,someone might have to drive around 30 min. instead of 15 min. to find a place to park. I might add, I did decide to give our local hospital some business, and had my Mammogram there this year, after always having this done in Louisville at Nortons Hospital for the last 15 years or so, with my insurance and medicare taking care of the expense. I am assuming that Nortons wrote off any remaining balance as I was not charged. Not Floyd Memorial. They chose to bill me $9. Guess I paid for some of the plastic decorations. Back to Louisville for all my needs.
I would like to make a correction to my last post. My guess is that the
plastic greenery that I referred to
is not plastic at all but surely must be silk. After all this is a 1st. class addition, but am guessing that most of the people that will be using this fine facility won't even know the difference.
don't worry anonymous, i've been billed for services at Jewish also..and, BTW, have you seen the decor at the Jewish Heart/Lung center?? equally as 'impressive' as the new decor at Floyd? it's the caring physicians and employees that make the difference when you receive your care. the rest is just "eye candy" - if the hospital had put the new area up with white walls, another "anonymous" would be complaining about the $65 million dollar expansion and the unflattering decor - go figure
iamhoosier,
they have a dashboard report with all of the key indicators listed. I have it at the office and will post them when I return.
There are only 2 or 3 that have met goals.
Yes, I have seen the "Eye Candy" at the Jewish Heart-Lung Center and it does not begin to compare to FMH, and I do agree that it comes down to the matter of caring physicians and employees, but it seems to me that there is a lot of grumbling among both. Not only is the hospital employees jumping ship but also the Doctors are trying to move on. Who decides if a Doctor is on staff or has privileges? Is it hospital management or the local physicians?
To the anonymous one who is complaining about the expansion at FMH:
If you have a place of employment, where you have been employed for years, and suddenly one day you go to work and everything has changed and literally hundreds of people per day kept asking you where something was, would you know exactly where to direct that person or would you send them to someone that might have more of a clue than you?
As far as I am concerned; the "plastic decoration" are not for visitors it is for staff. At your place of employment is there not decorations and fake plants? What was the room like of the person you were visiting? Wasn't it nice that the room was private and had plenty of seating for visitors?
People don't think of a hospital as a business in the same way the do other businesses. I bet that if you go to any main lobby of any building in downtown Louisville and it is decorated with plenty of "plastic decorations."
Something else that gets me is people who yell at the nurses in the ER about waiting times. I don't come to your office and yell at you for something you have no controll over? The emergency room is not a place that is going to be a quick trip, unless you go at 3 am, especially if it is something that you could easily see your primary doc for. The emergency room is FOR EMERGENCIES, it says it right in the name: EMERGENCY ROOM.
So in closing. If you don't like going there, DON'T GO THERE, you won't be missed I can assure you of that. There are plenty of other people you love FMH and wouldn't go anywhere else, and those people are thanked.
Oh please anonymous, I am sorry you went to the subject of the emergency room. I know someone that came into the ER at 1AM and after staying until 4Pm the next day had to go home because there were no beds. This was recently. The irony of this story in addition to the almost $3000.00 he has been charged by the hospital. He owes $400.00 to a Doctor for admitting him, to the hospital. A Doctor he did not see, I might add. I'm sure the Dr. isn't even aware that he was not able to be admitted due to lack of rooms. That is what people are complaining about. As to the decorations being for the staff. I
certainly hope that no staff falls down the big beautiful staircase, while staring up at the ceiling taking in the view of all the beautiful greenery. Wait till all the dust lites on the pretty green leaves, hopefully none of the poor housekeeping people will have to get up there to dust. As for my employment I worked for 35 years without a window in my office, but then again I just dealt with papers and not peoples lives. I have yet to see what the lobbys of downtown Louisville has to do with FMH. BTW, I can tell, you must be management, because I bet most of the hourly workers have too much to do, than stand around and enjoy the scenery. As to the room of the person I visited, indeed it was not private and they had to have security come and remove people that insisted on staying long after visiting hours were over. You don't have to worry about me being a patient at your place. I left there a long time ago. As I have said, I don't blame the hourly workers in any business in distress, it usually falls back on the management.
If you dont like the new building then take yourself back over to louisville.I have found that the staff at FMH is the best around.I had a loved one pass away at Nortons and didn't care for the staff there.The nurses at FMH are the best.They are caring and compassion people.Nurses in Nortons needs to learn a thing or two from Floyd.I always let people know what wonderful care I received at Floyd.I won't let anyone else take care of me and my family.
P.s- Does anyone ever thank their nurse or aide for the care that gave?? People rather complain all the time, than giving thanks.I believe a person can get more done by being nice. Or get things done slowly when hateful and mean!!!!
To anonymous, If you read my previous posting, the only thing I have said about the experience at FMH hospital was the unnecessary
spending on the "eye candy" as someone stated. Apparently the employees are too overworked to even have time for training in finding their way around the new facility, and therefore can't even help people find an elevator. If you check the Help Wanted under FMH you will see that they are working very shorthanded in a lot of areas, and this is without the new addition even being fully put to use. Someone else stated that the new surronding was for the "Staff", I'm sure there is others that feel such as I do that it must be other "Staff" than the ones that are having direct with patients. Don't concern yourself with my well-fare, I've been going to Louisville Hospitals for a long time now, and I've seen nothing to make me change my mind in doing so. I will say, my Floyd County Tax Dollars give me a right to comment on excess spending that contributes nothing to the care and well-being of patients that are not fortune enough to go across the river. I am sure with the new addition that it is going to require more housekeeping personal, keeping the spacious entry and staircase clean. IMO this money could be spent on Nurses and Aides to take care of patients. But of course your right, I don't need to concern myself as I will be taking my self
back over to Louisville. I will just leave my tax dollars in Floyd County. I guess that is all that matters.
I agree with the comments made by the first anonymous, concerning FMH's lavish new building and it's employees walking into the walls because they don't know where the doors are.
I worked for over 30 years, with a well known corporation in L'ville that had only windows, silver and gold for upper-management. Did the "Window" people produce more? Were they happier? Did they make better business decisions or fewer mistakes? No no and no, they were too busy looking through those windows and etc. We "moles", with no windows and no trappings, had less distractions and better concentration. We, kept the company on the "Fortune 500" list thus allowing upper-management to keep their spot in the window.
Working in a hospital shouldn't be like an 8-12 hour visit to an expensive health spa. The visit isn't for the patient. Why should it be for the working employee? The definition of hospital reads as follows: "An institution in which the sick or injured are given medical or surgical care." Sorry, it doesn't say a large, lavish institution is needed to accomplish this.
I guess the new building and decorations are for the employees(as one FMH employee stated), because they sure aren't for the patients.
Will this new building give us better healthcare and individual service? I could care less about my surroundings when I'm sick and could die. I want good healthcare. I can die just as easy in a room decorated with gold trimmed wallpaper as I can in a sterile room with "white" walls. My doctors and nurses are what I'll be looking to, not the "plastic flowers". Gosh, I sure hope the medical staff isn't looking at the walls and "plastic flowers" when I need them. Please, Lord, when I pass away don't let the doctor's last words be: "Well, we lost 'em." "Would you just look at those hills in the Knobs". "Isn't this a lovely place to work"! Let's get real!!!!!
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