Danbury Hospital
Financials

WESTERN CONNECTICUT HEALTH NETWORK, INC.

TREASURER’S REPORT – Fiscal Year 2011

  The Danbury Hospital and Subsidiary The New Milford Hospital, Inc. and Subsidiaries Western CT Medical Group Other Affiliates** Consolidated
  2011 2011 2011 2011 2011
Net Revenue $517,566,865 $93,416,534 $138,965,015 $(12,247,047) $737,701,367
           
Expenses          
Salaries, benefits and fees 308,540,688 52,253,080 123,223,653 (25,308,623) 458,708,798
Supplies, services and other 139,391,873 32,646,117 22,991,514 13,988,360 209,017,864
Bad debt expense 18,183,085 2,545,989 5,256,573 479,880 26,465,527
Depreciation and amortization 27,369,949 5,855,136 1,279,271 1,732,300 36,236,656
Interest 4,587,742 511,926 49,870 184,395 5,333,933
Total Expenses $498,073,337 $93,812,248 $152,800,881 $(8,923,688) $735,762,778
           
Income (loss) from Operations $19,493,528 $(395,714) $(13,835,866) $(3,323,359) $1,938,589
Pension Curtailment Charge *       (10,337,542) (10,337,542)
Non-operating Income 4,192,392 1,232,940 3,746 162,706 5,591,784
Excess (Deficiency) Revenue over Expenses $23,685,920 $837,226 $(13,832,120) $(13,498,195) $(2,807,169)
           
Admissions + Observation Cases 22,635 3,010     25,645
Inpatient Days 95,957 9,347     105,304
Total Outpatient Visits 386,527 111,625   57,193 555,345
Total Physician Visits   9,087 406,274   415,361
Outpatient Surgery Cases 10,801 2,268     13,069
Emergency Room Visits 69,595 18,780     88,375

* One-time non-cash impact due to restructuring of the pension plan.

** Other Affiliates include Western Connecticut Health Network Foundation, Western Connecticut Health Network Affiliates, Business Systems Inc., Western Connecticut Home Care, and Western Connecticut Health Network, Inc, the parent. All material inter-company transactions have been eliminated.

Steven H. Rosenberg
Treasurer