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Archive for Tuesday, November 9, 2010

KU Hospital revenues increase 7 percent in last fiscal year

November 9, 2010

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— Kansas University Hospital's revenue totals were up 7 percent during the year ending June 30, according to figures released by the hospital on Tuesday.

The hospital took in more than $805 million during that time, up from $750.5 million from last year, according to figures released at the KU Hospital Authority Board's regular meeting.

"We're being cautious in the near term, because a lot's changing," in the health care field, said Scott Glasrud, KU Hospital's chief financial officer.

The revenue increase accompanied another year of record-high patient volume for the hospital. KU Hospital saw an 8 percent increase in inpatient stays during the time period, increasing to 26,130 for the year.

Highlighted expenses during the year for the hospital included:

• KU Hospital spent $57.5 million on capital investments, including a new medical office building, a renovation of the hospital's labor and delivery unit and a continued conversion to an electronic medical record system.

• Support for KU Medical Center and its faculty physicians rose 21 percent to $66.4 million.

• The hospital continued to spend more on indigent care in the economic downturn, with expenses rising 10 percent to $36.8 million.

Hospital leaders said they are focusing on keeping expenses down through efficiency measures while investing in people, technology and facilities.

Glasrud said he expected this year's growth to be more moderate.

"We're continuing to grow, although at a slightly slower pace," Glasrud said. "We're dealing with physical capacity issues."

Tammy Peterman, the hospital's chief operating officer, told the board that the hospital was operating near its capacity — with all but three patient beds occupied as of Tuesday morning.

New expansions, such as a $50 million expansion for the hospital's Center for Advanced Health Care scheduled to open in 2012 and a new medical office building scheduled to open in the summer of 2011, will help increase the hospital's patient capacity, Glasrud said.

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