Farmington, Conn.-based UConn Health hired a healthcare investment consulting firm to boost revenue as it contends with declining state aid, the Connecticut Mirror reported Dec. 6.
State support for UConn Health declined by $235 million — more than 50% — in 2023, according to the report. The university's financial office projects state aid will decline by another $41 million in the next fiscal year without legislative changes.
The firm will assess the marketplace to try to build on successes while also looking to expand UConn Health's research, academic and public service missions, according to the report.
The UConn Board of Trustees adopted its 2023-24 budget in June, which cut the health center's funding by nearly 8% and drew $22.1 million from its service to balance the budget, according to the report.