UMC Governing Board Audit & Finance Committee
Summary
Volumes down, labor over budget, days cash on hand 55.2.
What Matters to Employees 4 items
Medicaid disenrollment starts; $150M outstanding payments.
SWB $7M over budget, contract labor $2.4M over.
UMC to receive $800K from 340B underpayment.
Increase funding for self-pay collection letters.
All Agenda Items 18 items
Savings above target; off-contract spend $900K.
Net revenue $9.5M over budget, expenses $8.3M over.
SWB $8M over; contract labor $2.1M over; 64 days cash.
Admissions down 3%, surgeries down 9-10%, ER down 7%.
Extends Medicare HMO PCP agreement; adds incentives.
Updates billing forms; no major changes.
2-year extension with auto-inflator.
Extends term 3 years; updates rates.
New contract for prison inmate services.
Adds ortho and anesthesia services.
3-year agreement for endoscopy scope repair.
Consulting for Magnet designation; 2-year term.
3-year grant for ECMO program development.
Adds cleaning systems to ORs and CVOR.
2-year agreement for AF ablation devices.
Renewal 2 years; increased funding for patient days.
1-year natural gas supply agreement.
Conditional offer accepted, finalizing sale.