The medical center is continuing construction on its massive outpatient complex in Columbus, Ohio, which is set to open next year.
However, Ohio State has paused projects like its interdisciplinary research and education building.
In addition, the medical center did not seek trustee approval this month for the next stage of its $2 billion, 840-bed inpatient tower, which aims to replace some hospital rooms in other buildings, according to the report. The medical center said the tower design and budget approval did not go before the board of trustees in June because a few adjustments were made to bring it in scope.
Despite the pausing some capital spending, Ohio State University Wexner Medical Center said it’s finances are bouncing back from the coronavirus pandemic due to federal stimulus funds and returning patient volumes.
The medical center made some cuts to help offset some revenue losses, like suspending travel and targeting supply chain inefficiencies. However, it didn’t need to trim jobs or furlough employees.
Medical center officials are predicting an operating income of $210 million through May.
Editor’s Note: This article was updated June 29 to clarify that the inpatient tower is not paused. In addition, the article explains why the medical center’s tower design and budget approval did not go before the board of trustees in June.
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