University of Toledo Medical Center deficit is over $25 million
The financial problems continue to get worse at the University of Toledo Medical Center. Now we have learned the hospital has a deficit of over $25 million.
The health care system has been hit hard during the COVID crisis. One of the major issues was the elective surgeries that were cancelled throughout the country and it was no different there.
For months we've been telling you about the financial issues at UTMC. Now 13abc has learned that deficit through May is $25.4 million. For the entire university that number is $18.5 million.
During COVID, hospital admissions were down almost 25% year over year.
UT will be getting $6.4 million fewer dollars in this fiscal year from ProMedica with that academic affiliation agreement. That's because, according to the University, fewer residents were transferred to ProMedica that the original agreement called for. UT officials say that's because of a lack of faculty at ProMedica for the residents.
“We've been working with ProMedica to make sure we can have that faculty at ProMedica supervising. That's just a lot of detailed work,” said Doctor Chris Cooper of the University of Toledo.
As for the future of the hospital, that was briefly mentioned Monday. The school says it is still reviewing proposals submitted for either outright purchase or partnership. We do know ProMedica submitted a proposal. Mercy Health did not. The school says it is still evaluated proposals.