The Iowa Board of Regents approved a 6 percent rate increase for healthcare services at the University of Iowa Hospitals and Clinics, according to a report from The Gazette.
The 6 percent pay raise is the highest allowed for University insurance contracts, but is still low compared to other universities in the Midwest, according to the report, and charges are below the 50th percentile for academic medical centers nationally. However, compared to non-academic medical centers in Iowa, UIHC rates are high.
The rate increases aim to ensure UIHC revenue stays above operating expenses, according to the report, which exceeded $2 billion for the first four months of the year. The health system's expenses are up 9.2 percent year-over-year and more than 2,000 percent for the last decade.
UIHC is also focused on growth in the region, with more than $1 billion in construction projects planned.