UMC Governing Board Audit & Finance Committee
Summary
Revenue down 31%, volumes down 33-45%, $20M below budget YTD.
What Matters to Employees 12 items
Expenses $8M over budget; surgeries down 17-29%.
Medicaid rate needs 114% increase; $200M outstanding.
Voluntary separation program offered; workforce reductions ongoing.
Income $5.3M below budget; capital spending behind.
New PPO/HMO network for ortho and anesthesia.
Adds Medicare Advantage to existing agreement.
Public works bid, no operational impact.
Adds anesthesia services to preferred provider agreement.
Infectious disease services; 50% grant funded.
Ratified for cardiovascular anesthesia; high-risk specialty.
Extension and additional funding for marketing services.
Contingency-based platform to recover denied claims.
All Agenda Items 6 items
Admissions down 33%, surgeries down 38-42%, revenue down 31%.
2-year agreement, $125k annually, $75k savings.
Not to exceed $120k annually, cost increase due to more availability.
3-year contract, estimated $2M annual recovery.
5-year agreement, saves $500k annually.
On-call services agreements approved.
Related Historical Findings
Hospital offers voluntary separation while reporting $20M below budget.
Workforce reductions and Voluntary Separation Program offered.
"Ms. Wakem updated the Committee on workforce reductions and the Voluntary Separation Program that was offered to employees."