WakeMed Criticizes UNC Hospitals' Money Transfer

CEO Bill Atkinson of WakeMed Health and Hospitals, based in Raleigh, N.C., recently criticized UNC Hospitals in Chapel Hill as UNC Hospitals allocated $20 million to the university to offset the school's 18 percent budget cut, according to a Daily Tar Heel report.

Officials at UNC Hospitals said the money transfer is normal because UNC's School of Medicine does not earn profit.

According to the report, UNC Hospitals ended fiscal year 2011 with a 5 to 6 percent profit margin and was easily able to contribute the $20 million. Mr. Atkinson, however, was concerned how the public funds were being used across the systems.

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