UMC Governing Board Audit & Finance Committee
Summary
Revenue above budget but labor costs and cash on hand are red flags.
What Matters to Employees 12 items
Net revenue $5M over budget but expenses $7M over; YTD deficit $7M.
Medicaid enrollees expected to drop; 340B litigation ongoing.
Adds orthopedic service line; spinal care excluded except trauma.
Modifies quality incentive program for ambulatory care.
Extends agreement 1 year; adds funding for supplies.
Required for OSHA compliance; 1-year agreement.
New 5-year agreement for laundry and delivery services.
New software for financial planning; 4-year agreement.
Onsite testing for external façade project through 2025.
Adds Medicare Advantage and Anesthesia fee schedule.
Incomplete item; no details provided.
Continued reliance on locum tenens coverage.
All Agenda Items 9 items
Revenue $7.8M above budget; SWB $7.4M above budget.
No exceptions or control deficiencies.
COVID emergency expires May 11; seeking more GME slots.
New Medicaid MCO contract for 2024 exchange.
Adds Ortho and Anesthesia to marketplace product.
Medicare Advantage access to specialist services.
Commercial plan adds Ortho and Anesthesia.
Medicaid plan for Specialty Clinic Anesthesia and Ortho.
Increased funding due to unforeseen service needs.