University of Missouri Health Care ends fiscal year with $98.5M operating surplus

Columbia-based University of Missouri Health Care recorded an operating surplus of $98.5 million in fiscal year 2017, up nearly $63 million compared to budget projections, according to a Columbia Daily Tribune report.

MU Health Care attributed the financial boost in the fiscal year ended June 30 to increased service levels compared to the year prior. The academic medical center reported year-over-year increases of 12.5 percent in outpatient surgeries, 13.6 percent in births and 6.2 percent in patient days, according to the report.

"It is a very strong performance when you look at it from a volume perspective and you will see that translate into results," MU Health Care executive director of finance and controller Jennifer Doll told the Board of Curators' Health Affairs Committee this week.

The strong performance allows MU Health Care to provide an annual guarantee of $10 million from hospital operations for the University of Missouri School of Medicine, reports Columbia Daily Tribune. Dean Patrick Delafontaine, MD, with the medical school noted in the report the funds will go toward research and employee recruitment support.

The hospital contributed $16 million to the medical school and $4.5 million to support the Sinclair School of Nursing, the School of Health Professions and general University of Missouri operations in fiscal year 2017, according to Ms. Doll.

MU Health Care's latest financial results come as the hospital explores a partnership with Boone Hospital Center in Columbia.

 

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