University of Iowa Hospitals optimistic about financial future

(AP) - Officials of University of Iowa Health Care say the hospital has "turned the corner" after months of financial woes.

Vice President for Medical Affairs Jean Robillard says shrinking the University of Iowa Hospitals and Clinics work force by 676 people over the past year and cutting expenses has placed the hospital in position to handle the current financial climate.

Officials say the hospital finished fiscal 2009 in the red. Last month, Robillard said $17 million must be cut by the end of the 2010 fiscal year.

Robillard says the hospital is now focused on a new outpatient clinic in Coralville. If approved by the Board of Regents in February, the project could be completed in two years.

Robillard says early discussions suggested leasing rather than owning buildings, making that other details to be resolved.