The health system expects revenues to reach $2 billion and attributes its success to a 5.7 percent growth in patient care volumes and improvements in efficiency, according to the report.
The hospital’s outlook for fiscal 2011 is even better, with a projected operating margin of 4 percent and projected revenue of $2.1 billion.
The hospital system has markedly improved its financials since the fall of 2008 when the system faced a multi-million dollar deficit. Layoffs, a hiring freeze and renegotiated contracts helped get the system back on track, according to the report.
Read the Crain’s Detroit Business report on UM Hospitals.
Read other Becker’s coverage on Michigan hospitals.
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