finances

Despite Sequestration Cuts, OHSU Over Budget

Academic operations are running a $6 million deficit, but increased use of hospital services is covering the gap
  March 22, 2013 – The effect of federal sequestration can already be felt on Marquam Hill. When the board of directors at Oregon Health & Sciences University met Thursday afternoon, chief financial officer Lawrence Furnstahl said federal spending cuts will cause the state's only academic medical center to lose somewhere between $30 to $35 million per year. About $7 million of that, he said, is the result of a 2 percent cut to Medicare spending, and another $23 to $28 million will be lost due to cuts to the National Institutes of Health and other federal programs. Read More >>

OHSU’s Operating Income is $9 Million Over Budget Projections

But, at the same time, revenue decreased by $4 million from last fiscal year
April 4, 2012 -- Oregon Health & Science University reported $36 million in operating income at last month's board meeting – $9 million more than anticipated since its fiscal year began last July.   Read More >>

Legacy Health System Tightens its Belt

Net revenues are down as the hospital system looks to balance the books and prepare for big changes
December 21, 2010 -- The down economy and lower-than-expected patient volumes have forced Legacy Health System to ask all employees, including those in the front office, to make a concerted effort to reduce costs. Read More >>

OHSU’s Credit Rating Turns Into an A

Standard and Poor’s cited OHSU’s significant improvement in its operating performance and its solid financial profile
November 8, 2010 -- Oregon Health & Science University has something to brag about. Standard and Poor’s, which issues credit ratings to public and private corporations based on their debt, increased OHSU’s score from BBB+ to an A. Read More >>

Salem Hospital’s Profit Margin Declined in 2009

Its president, Norman Gruber, earned $1.2 million in 2008, an 87 percent increase from the previous year
October 6, 2010 -- Taking a look at the financial picture of Salem Hospital, it struggled financially in 2009 compared to the year before when the financial crisis had not quite taken hold, according to audited financial reports from the Office for Oregon Health Policy and Research. Read More >>

Regence May Face Audit

Samaritan Health Services passes its PEBB audit with flying colors
July 21, 2010 -- Regence BlueCross BlueShield of Oregon could face an audit by the Public Employees Benefit Board, which oversees healthcare services for state employees and their dependents. Read More >>
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