UIHC continues to have healthy year financially

IOWA CITY - University of Iowa Hospitals and Clinics continues to have a healthy year financially, officials told the state Board of Regents today during a meeting in Iowa City.

The year-to-date operating margin is 6.1 percent through April 2011, officials said. Hospital leaders had budgeted to end the fiscal year on June 30 with an operating margin of 3.2 percent.

Most of the financial growth is driven by increases in total revenue at the hospital, with total revenue up $75 million compared to the previous fiscal year and about $13 million greater than this year's budgeted revenue, Chief Financial Officer Ken Fisher told the regents.

Also during the meeting, Jean Robillard, UI vice president for medical affairs, said the new ambulatory care clinic under construction at the River Landing site in Coralville is progressing well. The project, with a $72 million total budget, is on schedule and about 15 percent of the steel is up for the new clinic, Robillard said.

“Six of the seven bid packages have been awarded and better than estimated. At this point I think things are doing well,” he said.