Additionally, UMC has been insolvent for the past 10 straight years, recording a cumulative loss of $407.5 million. More than half of that amount has come since 2009, the report said.
The hospital has reduced costs by more than $40 million a year from 2009 levels through spending cuts and pay freezes, but it continues to see rising numbers of low-income patients covered by Medicaid. According to the report, UMC took on $253.3 million in bad debt or charity care for stays of at least one night — more than double of any other hospital in the United States.
Related Articles on Hospital Losses:
Miami’s Jackson Health to Make Cuts to Union Pay, UM Medical School Budget
University Medical Center in Las Vegas Posts $87.2M Loss
Cleveland’s MetroHealth on Track to Lose $1.1M After Projections Expected $40M Profit
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