Westwood — Kansas University Hospital announced on Tuesday it had $141.2 million in capital expenditures during the fiscal year that ended June 30 — a 146 percent increase from the previous year.
The hospital has worked on several major projects during that time, including a recently completed Medical Office Building, an expansion of its Center for Advanced Health Care and the development of an electronic medical records system.
KU Hospital administrators released some information relating to its performance during the 2011 fiscal year during a meeting of the KU Hospital Authority’s board of directors.
“It’s the focus on quality, the focus on safety and the focus on people,” said Bill Marting, the hospital’s chief financial officer, discussing the hospital’s financial success.
Since the formation of the KU Hospital Authority in 1998, the hospital has spent more than $770 million in capital expenses and more than doubled the size of its workforce, from 2,200 employees in 1998 to more than 5,500 today.
The hospital brought in $869.2 million in total revenue, up 8 percent from the previous year, and contributed $87.9 million to KU Medical Center for faculty salaries and programs, a record high that is a 32 percent increase from the previous year.
Marting said the support for KUMC grew because it has some minimum requirements to fulfill as part of its affiliation agreement with the university, and as revenue grows, so does support to the university.
“We’re significantly above all the minimums,” Marting said, adding that the hospital has agreed to pay for additional program developments in some areas based on the university’s needs.
The cost for providing uncompensated care to people who were unable to pay also increased to $42.3 million, a 12 percent increase from the previous year.
Also on Tuesday, the board recognized the efforts of the leaders of its annual Treads and Threads fundraiser, which raised a net $785,311, which will be used to advance clinical trials and providing programs for cancer patients.
Comments
pace 5 years, 8 months ago
"The cost for providing uncompensated care to people who were unable to pay also increased to $42.3 million, a 12 percent increase from the previous year."
Tax money or higher health cost for insured pay for the uninsured. The billionaires, oh I mean the lackeys of the billionairs are against Health care reform which for one requires people buying their own insurance if they can afford it. Come on. The current system is Koch care and Koch bos aren't picking up the tab, we are.
KEITHMILES05 5 years, 8 months ago
This has nothing to do with billionaires or Koch's. Too damn funny and sadly stupid.
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