UMC Governing Board Audit & Finance Committee
Summary
Volume strong but labor costs and nursing shortage persist.
What Matters to Employees 12 items
Revenue up $10.8M, expenses over $7M, SWB over budget.
Leading clinical trial site; financial benefits shown.
NICU reimbursement policy change, CARES Act 4th tranche.
Approved for medical/surgical products.
Consultant for Epic cash application process.
36-month subscription for IT security services.
Added one-year term and additional funding.
Contract labor for coding department.
Supplement current coding staff.
COVID test reimbursement software.
60-month service agreement for Cath lab equipment.
Purchase of anesthesia machines.
All Agenda Items 13 items
On track; budget details discussed; risk mitigation in place.
Admissions -9.5%; labor +$7.7M; cash on hand 54.1 days.
No impact to UMC; private hospitals may face 15% fee.
Ratification for anesthesia/ortho reimbursement.
Adds orthopedic and anesthesia professional fees.
Extends term 24 months; updates reimbursement.
Adds orthopedic and anesthesia professional services.
Extends term; increases NTE for renovation projects.
Sole respondent; 3-year term with extensions.
Increases funding for pest control at new locations.
Approval to purchase property; closing pending.
Adds pancreas transplant; increases funding due to volume.
Additional space, parking, extended term to 2028.