Financial reports of Denver Health

Godfred Makumator

the financial state of denver health

This is to provide a clear analysis of Denver health's financial position by looking at our revenue, regualtroy requirements, risks and expected outcomes of being compliant.

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Purpose of presentation.

Financial Highlights

1. Net patient service revenue - $969.9 million (increased from 2022- $901million)2. Medicaid net payment increased from $148 million in 2022 to $163 million. 3. Federal grants increased by $23.2 million.

Revenue Analysis

2023 - $190.8M ( down from $196.4 in 2022)Major Components of our liabilities include;1. Accounts Payable 2. Accrued salaries and compensations. 3. increased in patients number. 4. Accrued bonds payable .

Current Liabilites

Significance increase in salaries and benefits driven by workforce expansion and inflation.

Operating Expenses Analysis

5. High cost in medical supplies.

4. Significant increase in salaries and benefits due to high increase in patient growth.

3. Increase in grant funding.

1. Increased patient services.

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2. Over relaint on medicaid payment.

Take away from 2023 revenue

• 1. Regulatory Compliance.

a. Denver health must ensure full compliance with governmental accounting services especially their subscription-based programs as it is considered as liabilities and expenses.b. Noncompliance could attract audit issues and penalties.c. Compliance will attract public trust and integrity of their reports.

• 2. The medical malpractice liability has increased demonstrating huge liability to the hospital which can damage potential investments.

a. Increasing damage can lead to increase in settlements costs and damage hospitals reputation in the process.b. It may also incite regulatory scrutiny.c. Increasing strict management styles can reduce legal claims through strict patient safety protocols.

• 3. Increasing operational costs due to salaries, benefits and medical supply costs.

a. If it is not contained, the hospital jeopardizes the hospital meeting quality standards.b. Renegotiating supply contracts can improve the financial health and ensure efficient compliance to financial regulations.

Need to be more compliant

Thanks!

Denver Health. 2023.“REPORT to the CITY 2023.” Accessed September 28,2024. https://www.denverhealth.org/-/media/2023-denverhealth-reporttothecity. ‌

References.

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