UMC Governing Board Audit & Finance Committee
Summary
Volume declines across most services; financials tight but on budget.
What Matters to Employees 5 items
Net patient revenue down $1.7M in Nov; AR 89 days.
Extend agreement term for 2 years.
New contract with HPG rebates.
Increase in vacancies; contract for travel nurses.
One-year renewal, no compensation change.
All Agenda Items 8 items
3 of 15 items still have variances.
Admissions down 10%, surgeries down 10-12%.
IAF rate increase and DSH recoupment risk.
Most goals on track; one awaiting actuarial analysis.
Routine renewal of existing system.
Extension of revenue cycle tech agreement.
6-month extension to avoid triple fee.
Two vendors to improve bad debt recovery by 10%.
Related Historical Findings
CEO goals reviewed while staff await raises
CEO performance goals discussed; no action taken.
"Receive an update regarding FY20 CEO Performance Goals related to the Audit and Finance Committee; and direct staff accordingly."