enues from the hospital business were RMB92.3 million ($14.9 million)
for the first quarter of 2013, which consisted of:
outpatient revenues of RMB18.4 million ($3.0 million), representing 20% of the net revenues from the hospital business;
inpatient revenues of RMB34.1 million ($5.5 million), representing 37% of the net revenues from the hospital business; and
medicine revenues of RMB39.8 million ($6.4 million), representing 43% of the net revenues from the hospital business.
Cost of service for the hospital business for the first quarter of 2013 was RMB82.6 million ($13.3 million), of which the medicine cost was RMB33.9 million ($5.5 million) and the medical service cost was RMB48.7 million ($7.8 million).
Gross profit margin of the hospital business was 10.5% for the first quarter of 2013.
Capital expenditure of the hospital business was RMB9.8 million ($1.6 million) for the first quarter of 2013.
General and administrative expenses in the hospital business were RMB4.6 million ($0.7 million).
As of March 31, 2013, Chang'an Hospital had accounts receivable of RMB30.8 million ($5.0 million), representing days sales outstanding of 36 days, as compared to 34 days for the fourth quarter of 2012. The accounts receivable was mainly from medical revenues covered by various government-sponsored insurance programs. Chang'an Hospital settles the balance with the local social insurance bureau on a periodic basis.
Chang'an Hospital received 117,773 outpatients and 7,530 inpatients for the first quarter of 2013. The average bed utilization for the quarter was 89.2%. The average days of hospital stay was 10.0 days per patient for the quarter. Chang'an Hospital operated 1,015 beds as of March 31, 2013.
Chang'an Hospital is a leading private-owned, general service, for-profit hospital, located in Xi'an, Shanxi Province. Established in 2002, Chang'an Hospital had 57 departments with ove
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