On target for success: Favorable year-end financial results position U-M Health System for future growth
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This performance helps position the university's health care enterprise for continued investment in targeted strategies and support of the Health System missions in patient care, education and research.
In the annual financial summary, leaders projected that the 2014 fiscal year results will meet the target set last year. Patient care activity grew 4.3 percent over the previous year, and all three U-M hospitals had very high occupancy rates throughout the year, approximately 88 percent.
The Regents yesterday approved a new budget that sets the bar even higher for the fiscal year that begins
Achieving this target for clinical operations would position UMHS for long-term success, because clinical margins fuel the next generation of investments in buildings, technologies, research and talent. Gifts to UMHS, through its
"Thanks to the hard work of more than 22,000, including physician faculty, leaders and staff, we continue to grow and strengthen our ability to provide value to those we serve, including patients from every county of
Patients have already started scheduling appointments at the new 100,000-square-foot primary and specialty care center, which will improve access to U-M care for patients in metro
"A wide range of other projects and initiatives have also helped keep UMHS finances on target during fiscal year 2014, including stepped-up efforts to manage expense growth, improve productivity and provide ideal patient experiences," Denton says. "Patient satisfaction continues to improve across the Hospitals and Health Centers, reaching record levels on rating of care."
It will take time for UMHS to assess the full financial impact of the Affordable Care Act on its clinical operations and financial health. In FY 14, UMHHC provided more than
At the same time, says UMHS Chief Financial Officer
"Our participation in the
Additional investments in capital projects to expand clinical capacity, including the opening of the
Strategic clinical collaborations with other health care institutions in
For more information:
- Slides presented at the Regents meeting: http://umhealth.me/hhc1415
Northville Health Center : www.uofmhealth.org/northville
About UMHS: The
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