Columbia-based University of Missouri Health Care is on track to hit its financial goals set at the UM System Board of Curators' last health affairs committee meeting, the Colombia Missourian reported April 13.
CFO Dustin Thomas said MU Health Care is likely to surpass its goal of having a $45 million operating margin by June, which would be four months after the health system revealed it did not have enough cash on hand to cover 200 days of expenses, according to the report.
While finances have seen a lift in recent months, MU Health Care remains focused on making sure revenue matches expenses, with contract labor costs a key area of focus.
"Agency is a big problem for the industry everywhere," Mr. Thomas said, according to the report. "This is not abnormal to us, and it is going to take time to claw our way out of this."
MU Health Care has hired several new administrators, including Ric Ransom, who begins as CEO May 1. In March, the system announced that it had eliminated five hospital leadership positions across the organization.
The system also plans to hire clinicians and researchers and is eyeing collaboration opportunities to improve patient care, according to the Colombia Missourian.