Quick overview of UAMS’ presentation to the joint hospital committee and UA trustees meeting today in Fayetteville: The University of Arkansas for Medical Sciences hospital saw a 7 percent increase in revenues for the first quarter over last year’s first quarter revenues, or $10.2 million. About half the increase is attributable to an increase in patient volume; a portion of the rest can be attributed to a drop in uninsured patients: 2.9 percent uninsured versus 13.7 percent for the same time last year. UAMS Chancellor Dan Rahn presented the budget figures.
Net patient services revenue for the first quarter ended Sept. 30 was $149,162,194, compared to the same period in 2013 of $138,910,300.
“The changes we’ve implemented [at the hospital] and the private option is having a positive impact,” Rahn said. He surely hopes the Republican-led legislature hears and understands that.
He also hopes the university can convince the legislature to increase its state appropriation. While the university’s assets are down $2.4 million through the first quarter, in contrast to a deficit of $14.5 million last year, funds are still “not enough to support all the needs of the university,” Rahn said. “We just have to all be working together on what the best strategies are going forward.” He’ll need lots of luck.