Ann Arbor-based University of Michigan Health System reported Thursday strong financial results for fiscal year 2015, ending June 30. U-M anticipates a 3.2 percent operating margin, with $86.9 million in operating income on $2.7 billion in budgeted operating revenues for U-M Hospitals and Health Centers.
"We are very pleased with our fiscal 2015 results. Our talented and dedicated people are the difference," T. Anthony Denton, acting CEO and COO of UMHHC, said in a presentation Thursday for the U-M Board of Regents.
The health system reported the percentage of care paid by Medicaid increased 1 percent to 16.24 percent, which as partially accounted for the decrease in charity care. UMHHC anticipates charity care to decrease to $110 million in fiscal year 2015 from $152 million in fiscal year 2014.
Mr. Denton credited the system's strong performance to high patient volumes, high levels of staff engagement and the opening of a new ambulatory health center, a new emergency critical care center and increased operating room capacity.
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