UTMC has lost more than $12 million in first half of fiscal year

TOLEDO, Ohio (WTVG) - It's a shocking number. Through the first two quarters of the fiscal year, the University of Toledo Medical Center has lost nearly $13 million.

Leaders at the University of Toledo say they're now working on both long- and short-term plans for UTMC.

So what happens next?

That's the question so many, especially in South Toledo, want answered, but the school has not released any specifics about what those plans are to fix the issue. The problem has been identified, but there are no concrete solutions on how to fix it.

Board of Trustee members went through the financials of UTMC on Monday. Through those first two quarters, the loss is $12.6 million.

So what's changing there?

According to the university, demographics is one issue, with the population shrinking. More patients are now being shifted to outpatient and with the loss of the level one trauma unit, there's more of a focus on primary and behavioral care. According to the school those issue require fewer procedures and reduced payments.

Already the hospital has been shifted to a community hospital, no longer an academic medical center.

"We are in the process of a plan. This will be a well thought out plan, but it will also be a plan that will take into account all options as it relates to the hospital. The hospital needs to be fiscally viable, and that's what we're working through with the plan," said Chief Financial Officer Matt Schroeder.

UT President Dr. Sharon Gaber refused to speak with 13abc after Monday’s committee meeting when the numbers were revealed.

Here are some of the year-to-year losses. Even after the College of Medicine's affiliation with ProMedica, UTMC lost $3.5 in 2018, $7 million in 2019, and already in fiscal year 2020, it's at $12.6 million.