Evergreen Healthcare - Evergreen Hospital

2008 Financial HighlightsEVERGREEN HEALTHCARE22232008 Financial HighlightsEVERGREEN HEALTHCAREFinancial Stewardshipin Turbulent TimesRevenue2007 $624,172,522.152008 $729,290,677.7107080708Outpatient ServicesInpatient Services43.2%44.8%47.5%46.9%07083.7%3.3%Taxes07080.9%0.6%Non-operating RevenueOne of the first questions people ask me is how Evergreen Healthcare stands financially in this challengingeconomic climate. In a word: healthy. Because of our strong professional leadership, particularly in SteveBrown, CEO, and Chrissy Yamada, CFO, we’re handling these turbulent financial times well.07084.7%4.4%Other ServicesOur net income in 2008 was ahead of our projected budget. Evergreen Healthcare had higher-than-anticipatednumbers in Home Health and the Emergency, Laboratory and Surgical departments. We purchasedthe adjacent Virginia Mason building, an investment that will pay off in the long run as we convert thespace into offices for part of our financial services, planning and construction management departments.Expenses2007 $618,205,287.680708salaries and benefits30.2%29.6%Both your Board of Commissioners and Evergreen Healthcare leaders believe a fiscally conservativeapproach is the best way to protect the community’s investment in health care. Although health care hashistorically been somewhat recession-proof, we are seeing slowing trends in the reimbursement chainfrom some of our payors such as Medicare. Even though we’re financially stable, we’re taking steps to beeven more prudent in our spending in 2009.2008 $723,931,819.9807080708contractual allowances12.2%11.9%46.6%48.6%We anticipate an increase in underinsured, uninsured and charity care patients, which means we need tobe even more diligent in reducing costs where we can. Like most of our taxpayers and constituents, weare doing everything we can to live within our budget while continuing to provide the best possible healthcare for you and your family.0708supplies and purchase services4.3%3.9%other expenses07084.3%4.0%depreciation and amortization07081.4%1.4%Al DeYoungPresident of the Board of Commissioners0708interest on debt1.0%0.6%charity careLevy Funds2008 $14,118,96230% 70%Community Services, Special Projects Bond Repaymentand Uncompensated Care