The Medical Center will continue to work with the President on the development and implementation of the Human Resources System for which the Board of Visitors delegated authority. Approval by the Health Affairs Committee and the Board of Visitors. These reports are reviewed with the Executive Vice President and Chief Financial Officer before they are sent to the Health Affairs and Finance Committees of the Board of Visitors. At end of third quarter, the Medical Center continues to experience strong levels of inpatient occupancy, outpatient activity, and very high patient acuity. As reported last quarter, new accounting procedures and systems continue to allow the Medical Center to report actual revenues and expenses in a more timely and effective way.
Programs aimed at more aggressive medical management of high cost drugs and supplies are underway.
Projections for the remainder of the fiscal year assume continued strong volumes of activity, continued growth in managed care, and a reasonable operating margin. The Medical Center is initiating a program of cost reduction and revenue enhancement strategies. The Vice President and Provost for Health Sciences will utilize this portion of the Health Affairs Committee Meeting to inform the Board of Visitors of recent events of the Health Sciences Center which do not require formal action, but of which they should be made aware.