NOAH’s performance is measured in several ways, including the number of patients we see, the comprehensive care we provide, and maintaining healthy financials. Here’s a look at the financials for June:
Financial Dashboard
| Metric | Target | June 2023 | 3 months ago | 6 months ago |
| Days Cash on Hand | 90 | 64 | 62 | 80 |
| Current Ratio | 2.0 | 5.47 | 4.0 | 2.86 |
| Operating Margin | 6% | 5% | 4% | 0% |
Financial Insights provided by Julia Karl, NOAH Chief Financial Officer
Days Cash on Hand: NOAH’s Days Cash on Hand is still in a good range. The IT transition dropped this metric slightly with fewer visits and the team learning the intricacies of OCHIN. We are expecting cash to rebound by winter.
Current Ratio: NOAH’s Current Ratio remains strong indicating we have over five times as many liquid assets to pay for our short-term cash needs.
Operating Margin: Halfway through the year, NOAH’s Operating Margin is sitting at 5%. This is where we needed it be, as COVID related federal funds are now fully drawn. We are forecasting this metric to drop before year-end. This is a wonderful opportunity for us to each make small impacts in our day-to-day work to collectively keep this metric over 3% for 2023. As a reminder, EVERYONE can impact this metric, which is why it is my favorite of all the metrics! In order to impact this measure, we need to either increase revenue, decrease expense, or BOTH.
Below are just a handful of ways you can make a difference:
- Help fill clinic schedules, whether via PEC, Marketing, Population Health, Community Resources.
- Ensure charts are closed out timely and coded correctly.
- Clear OCHIN work queues to keep the Revenue Cycle moving.
- Be a good steward of expenses.
- Provide high-quality care to our community and ensure care gaps get closed.
Wishing you a wonderful and safe summer! If you have any questions please reach out to myself or Deanna Schantel, Director of Finance.
