OHSU narrows operating deficit in first half of fiscal year
Oregon Health & Science University continued to narrow its projected operating losses above expectations, the university’s board of directors heard during its regular public meeting Thursday, Jan. 30.
The university in June approved an annual operating budget of $5.5 billion, projecting a $25 million deficit for the year.
Through the first six months of the fiscal year, the university’s operating loss is a quarter smaller than budgeted and 50% smaller than the first half of last year. The better-than-expected results so far amount to a bright spot during a challenging era in health care, with rising costs and heavy demand.
“Patient activity shows broad-based growth above targets, especially in non-hospital pharmacy and oncology services,” according to a report from Lawrence Furnstahl, OHSU executive vice president and chief financial officer.
In other business:
- The board heard an update from Interim President Steve Stadum, J.D., including lessons learned and key priorities since the board appointed him in November.
- Board member Susan King, M.S., RN, provided an update on the committee searching for a permanent president.
- Renee Edwards, M.D., senior vice president and chief medical officer, provided the annual quality and safety report, including multiple initiatives in support of quality, safety and performance improvement.
- Angela Fleischer, vice president and Title IX coordinator for the OHSU Office of Civil Rights Investigations and Compliance, provided an annual report covering new program areas and a brief update on the status of the Schneider recommendations.
- The board heard an update from Isaac Dixon, Ph.D., interim executive vice president and chief people officer, regarding the results of an annual all-employee engagement survey.
- The board adopted a resolution of its deep appreciation for the dedication of Wayne Monfries, who chaired the board from January of 2019 through Sept. 27, 2024.