Health Care

More | | | Editor

GHSU sees big check, bad quarter

  • Follow Health

The health system of Georgia Health Sciences University presented an $8.6 million check Thursday to the university as part of its annual allocation.

The health system is contractually obligated to give 43 percent of its fiscal year-end margin to the university, which will be used for growth initiatives such as high-level recruits or new programs like the Institute for Regenerative and Reparative Medicine, GHSU President Ricardo Azziz said,

“The purpose of the health system is not just to include itself and take care of patients but also to support the university,” he said.

While it had budgeted a margin of $3.8 million for the first quarter of its fiscal year, the health system actually lost nearly $4 million, Interim Chief Financial Officer Dennis Roemer said. Inpatient admissions were nearly 5 percent below budget for the hospital and there was a higher number of uninsured patients across the health system.

“It’s about volumes and payor mix,” Roemer said.

The same forces are affecting hospitals across the country, Azziz said.

“Those of us in leadership are not terribly surprised because the recession continues, people are not getting jobs and the health care reform mandates are coming into play,” he said.

In fact, it could take nearly three years “before things finally take off,” Azziz said.

Comments (2) Add comment
ADVISORY: Users are solely responsible for opinions they post here and for following agreed-upon rules of civility. Posts and comments do not reflect the views of this site. Posts and comments are automatically checked for inappropriate language, but readers might find some comments offensive or inaccurate. If you believe a comment violates our rules, click the "Flag as offensive" link below the comment.
Craig Spinks
817
Points
Craig Spinks 10/28/11 - 02:48 am
0
0
How much of the structural

How much of the structural economic malaise in which we find ourselves is attributable to a deterioration in our basic cultural values? What level of prosperity should we expect when a substantial portion of our popular culture devalues working hard, delaying gratification by saving money, rearing one's own children, respecting others and their property, as well as following the guides of a citizen-/voter-answerable civil authority?

twentieth century man
102
Points
twentieth century man 10/28/11 - 07:59 pm
0
0
It's disappointing that the

It's disappointing that the parasitic relationship between GHSU and the health system has continued. The health system needs money to grow and modernize its physical plant. It should not be transferring money to GHSU. Arguably the present unfortunate status of the health care system is partly the result of these transfers amounting to many millions of dollars from the non-profit over the past decade. As a result, a grape has become a raisin.

Back to Top

Search Augusta jobs