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OHSU financial outlook improves despite daunting challenges

OHSU Board of Directors hears end-of-March results on $4.3 billion budget, updates on new HR initiatives, Center for Reproductive Health Equity
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Oregon Health & Science University continues to carry out its unique role in Oregon while also shoring up its financial performance in the face of economic and structural challenges that are impacting health care systems nationwide.

OHSU’s position as the state’s academic health center means that it provides the most complex health care in the region, while also educating the next generation of health care professionals and making important scientific discoveries.

The university’s board of directors today heard that OHSU has an operating income of $82 million through March, earnings that help offset last year’s operating deficit of $90 million. OHSU has focused on improving access and increasing clinical activity — including care to patients who require the kind of complex care offered at an academic health center — while also carefully managing costs.

OHSU’s fiscal year runs through the end of June, on a $4.3 billion break-even budget the board adopted last year.

Lawrence J. Furnstahl (OHSU)
Lawrence J. Furnstahl (OHSU)

“As Oregon's public health sciences university, OHSU has a unique role to play in patient care, education, research and outreach across the state,” said Lawrence Furnstahl, OHSU chief financial officer. “Through the dedication of more than 20,000 OHSU members, we have sustained the resources to fulfill these missions over the long run, despite the challenges of a global pandemic and turbulent economy.”

In other business:

  • The board heard an update from Qiana Williams, ACC, SHRM-SCP, executive vice president and chief people officer, regarding a transformation of the human resources department and work to continue to improve the workplace culture at OHSU.
  • Maria Isabel Rodriguez, M.D., provided an update for the board on the Center for Reproductive Health Equity.
  • The board heard a report about a 20-year facilities plan designed to complement OHSU’s broader goals around attracting, retaining and sustaining a healthy workforce, including through measures to support flexible workspaces for new members and the 44% of OHSU employees who now work remotely.
  • The board approved a resolution to reappoint Danny Jacobs, M.D., M.P.H., FACS, as university president, extending an initial appointment that had been due to expire on July 1, 2024. The board also approved a resolution selecting the auditing firm KPMG as OHSU auditor for the fiscal years 2022 through 2026.
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