Dustin Thomas, CFO of Columbia-based University of Missouri Health Care, said the health system "is in good shape" to hit its operating margin goal of $45 million at the end of June, the Colombia Missourian reported June 22.
In fiscal year 2021, MU Health Care recorded an operating gain of $90.6 million, which dropped to a gain of $28.8 million in 2022. However, at the end of May, the system's operating margin was $44 million, about $1 million shy of its fiscal-year 2023 goal.
Kaufman Hall helped MU Health Care develop a data comparison between itself and other "AA"-rated health systems, including those at the University of Iowa and the University of Wisconsin. MU Health Care's margin is ahead of and grew faster than the media, compared to when it was far below the median in 2022, according to the report.
In the first quarter of fiscal year 2023, the median health system saw a 9 percent growth in revenue and an 8 percent growth in expenditures year over year; MU Health Care's revenue grew 15 percent and its expenditures grew 9 percent in the same period, the report found.
"That is a benefit of being geographically located the way that we are and the benefit of offering the services that we offer," Mr. Thomas said, according to the Colombia Missourian. "Continuing to offer those high level services will be what allows us to continue to grow our revenue faster than our peers."