Messages from the Executive Vice President
December 13, 2012
This week I notified both the Health Center’s Board of Directors and the University’s Board of Trustees of our financial performance year to date. At the end of the first four months, we have a negative variance to our budget of approximately $4 million. We are also expecting an additional $1 million cut in our state support.
Since this performance is less than we expected, we have developed a thoughtful plan of revenue improvements and expense reductions to address this shortfall. The work is not complete, and we continue to evaluate further budgetary improvements.
Critical to our success is our ability to increase inpatient and outpatient volumes, improve access to our clinical services and provide exemplary service—themes emerging from our Strategic Refresh.
By working together, I know we can strengthen our financial performance. To achieve this, we must continue to make investments, as well as tighten our belts. We will carefully monitor our progress and report it to you. With your support, I am confident we will succeed.
Frank M. Torti, M.D., M.P.H.
Executive Vice President for Health Affairs
Dean, School of Medicine