Andrew Agwunobi, MD, executive vice president for health affairs and CEO of UConn Health, told trustees Monday that the system’s losses could reach $59.4 million in 2018.
Dr. Agwunobi told trustees the system’s clinical enterprise is struggling financially. He said this is largely attributable to increased competition due to health system consolidation in Connecticut, according to the report.
UConn Health hopes to increase revenue next year and achieve savings through negotiations with unions, but Dr. Agwunobi said more changes will need to be made to reach the system’s goal of driving the expected loss of $59.4 million down to $18.4 million.
In the current fiscal year, UConn Health drove down $48.1 million in projected losses to $19.7 million, which fell short of the system’s goal of reducing losses to $15.9 million, according to the report.
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