Stories indexed with the term ‘UM Hospitals and Health Centers’

University of Michigan regents approved the fiscal 2013 operating budget for the UM Hospitals and Health Centers, in a unanimous vote taken at their June 21, 2012 meeting. Doug Strong, CEO of the UMHHC, made a presentation on the FY 2012 budget – which ends June 30, 2012 – as well as on the budget plan for FY 2013. He described the organization as financially healthy, though stressed by the same economic pressures as similar entities.

For the current fiscal year 2012, revenues are expected to reach $2.24 billion, with an 0.5% negative operating margin of $11.3 million. However, that’s better than the anticipated loss of $23.5 million that had been budgeted for the year, Strong said. The loss is due in large … [Full Story]