Wednesday, November 28, 2018

UCHealth pays COS health foundation $675,475 in revenue sharing

Posted By on Wed, Nov 28, 2018 at 10:27 AM

click to enlarge Memorial's stroke center includes an emergency vehicle to respond to stroke patients throughout the community. - PHOTOS COURTESY UCHEALTH MEMORIAL
  • Photos Courtesy UCHealth Memorial
  • Memorial's stroke center includes an emergency vehicle to respond to stroke patients throughout the community.
The city's lease of city-owned Memorial Hospital to UCHealth is again paying off, with a $675,475 revenue-sharing check issued to the Colorado Springs Health Foundation, UCHealth said in a release.

It's the fourth consecutive year UCHealth has issued such a payment since the lease began on Oct. 1, 2012. Revenue sharing totals $4.45 million over the four years. The money is used by the foundation to improve the health of the community.

This year's payment is lower than previous checks due to UCHealth's investment in the local system, including achieving the first Level 1 Trauma Center designation for a facility outside the Denver metro area at Memorial Central and obtaining certification as a comprehensive stroke center. (Despite Memorial having the only such stroke center label in Southern Colorado, the city has instructed emergency crews not to give preference to Memorial for stroke patients, but to also transport them to Penrose Hospital.)
click to enlarge UCHealth Memorial is operated under a 40-year lease that includes participation in providing training to medical students.
  • UCHealth Memorial is operated under a 40-year lease that includes participation in providing training to medical students.
In addition, UCHealth invested in Grandview Hospital to expand the innovative orthopedic care the hospital can provide, UCHealth said in a release.

“Grandview now offers advanced orthopedic specialties from a host of talented surgeons using state-of-the-art equipment," Joel Yuhas, president and CEO of UCHealth Memorial, said in the release. "While such investments in physician growth, new services and new facilities in fiscal year 2018 resulted in a decrease this year in our revenue-sharing payment, we are confident these investments will benefit the health of residents in southern Colorado for years to come.”

Revenue-sharing payments stem from earnings in excess of baseline percentages outlined in the 40-year lease, under which UCHealth also pays the foundation roughly $5.6 million a year, among other provisions.

From the release:
Growth this past year included:
• A 19 percent increase in hospitalized patients at Memorial Central and North
• A 39 percent increase in Emergency Department visits at both campuses
• A 25 percent increase in outpatient visits
• The addition of 70 physicians to the UCHealth Medical Group, improving access to primary and specialty care

Among the many advancements made in the past year:
• In April, the State of Colorado designated UCHealth Memorial Hospital Central as a Level I Trauma Center, making it the only hospital in southern Colorado to achieve the highest classification for trauma care.
• The expansion of Memorial Hospital North continues, with eight additional exam rooms, including two new trauma suites, recently added to the emergency department. Two new operating rooms were also opened, and a new 47-bed tower is scheduled to open to patients in February. The new tower adds additional bed capacity for maternity and medical/surgical services, as well as an expansion of the cancer center.
• In January, Memorial Central became the first hospital in southern Colorado designated as a Comprehensive Stroke Center, a classification given to programs that offer the highest and most advanced level of stroke care.
• A new state-of-the-art air ambulance helicopter was added to UCHealth LifeLine’s transport fleet to ensure patients throughout southern Colorado and northern New Mexico receive rapid and safe transport to needed medical services.
• Pikes Peak Regional Hospital in Woodland Park joined UCHealth.
• Grandview Hospital became fully owned and operated by UCHealth.

“UCHealth has advanced the level of care in Colorado Springs, and those are dividends that play out in multiple ways – in the health of our families that receive care there and via the Colorado Springs Health Foundation, which will use the funds to address crucial needs in our region and support organizations that encourage healthy living,” City Councilor Merv Bennett said said in the release. “This is not only a tribute to the entire team at UCHealth Memorial, but also a reminder to the citizens of Colorado Springs that they made an important decision in 2012 in choosing UCHealth to lead the hospital.”

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