County hears report on UMC budget
The amount of money coming into University Medical Center increased in fiscal year 2008, according to an audit by the accounting firm Percy Bowler Taylor & Kern.
However the amount going out -- operating expenses and care provided to the uninsured and the underinsured -- didn't decrease that much from fiscal year 2007.
According to the audit, presented during Tuesday's Clark County Commission meeting, UMC's operational losses for fiscal year 2008 -- July 1, 2007, to June 30, 2008, -- were $55 million. In fiscal year 2007, the hospital lost $56.3 million.
The 2008 losses were attributed to high levels of care provided to the uninsured and underinsured patients, and an increase in operating expenses, the audit states.
UMC provided $181 million in charity care, the audit states. However, the hospital did receive $69 million from the county to offset care provided to qualifying indigent patients.
About 48 percent of UMC's patients in 2008 were enrolled in Medicaid, Clark County Social Service programs, or were considered self-payers, which means they had no insurance or didn't qualify for a federal or state program.
UMC's operating revenue increase of 5.3 percent from 2007 was attributed to rate increases in Medicare and Medicaid as well as managed care contracts.
UMC's operating expenses however were up 4.5 percent from 2007. To offset operating, capital and debt service costs, Clark County contributed $44.8 million. In 2007, the county provided $65.6 million.
