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Image 9 of Minutes of the University of Kentucky Board of Trustees, 2010-10-12

Part of Minutes of the University of Kentucky Board of Trustees

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-9- O. University Health Care Committee Operating Rules (UHCCR 1 ) Ms. Young stated that UHCCR 1 is a recommendation that the Board of Trustees approve the University Health Care Committee operating rules attached to the action item as Exhibit 1. The Committee adopted its initial operating rules in 2005 and amended such rules in 2007 in connection with the acquisition of the operations and assets of Samaritan Hospital. The University Health Care Committee and UK HealthCare organized medical staff have approved, amended and restated UK HealthCare Medical Staff Bylaws to reflect the integration of UK HealthCare Good Samaritan Hospital with the University of Kentucky Hospital and to comply with the requirements of federal and state law in recently revised accreditation standards of the joint commission. The proposed operating rules have been revised to be consistent with amended and restated UK HealthCare Medical Staff Bylaws as required by the joint commission. Further, the proposed operating rules increase the number of community advisory members from five to seven. The proposed operating rules were approved by the University Health Care Committee at its meeting yesterday. On behalf ofthe Committee, she moved adoption of UHCCR 1. Mr. Stuckert seconded her motion. Ms. Brothers had a question about the naming conventions used on page 9 ofthe rules exhibit, and her concem was resolved by calling on Ms. Ruth Booher, counsel for the health care committee, who stated that hospital naming conventions were followed in stating the titles of the individuals’ positions. The motion passed without dissent. Ms. May requested that it be noted in the minutes that she abstained from voting or participating in the discussion, a request which was honored by Dr. Brockman. (See UHCCR 1 at the end ofthe Minutes.) Ms. Young also offered her report on the committee’s meeting. Dr. Lofgren presented the clinical perfonnance update reviewing the four core signature metrics of quality service, excellence, efficiency, and impact. He also reviewed the quality and accountability scorecards and presented an update on the patient access center. Ms. Paula Holbrook, clinical risk manager, and Mr. Jeff Norton, director of the Office of Enterprise and Quality Safety, reported on the prevention of adverse medical events through a new initiative called swarming, which promotes patient safety through quick and nonjudgmental problem solving. Mr. Sergio Melgar presented the August 2010 financials, which showed generally a very healthy financial report for the hospital. Comparing the balance sheet at August 2010 and 2009, cash has decreased by $47.2 million, the $80.9 million balance is $10.7 million lower than the July 31, 2010 balance due to the use of cash reserves for the remainder of the Phase 1-A ofthe patient care facility. Accounts receivable has increased by $11.4 million compared to last year. The value of board-designated investments now totals $182.4 million, which is a $2.4 million increase from August of last year. Accounts payable has increased by $12.7 million and other current assets have decreased by $2.7 million between August 2010 and 2009. The balance sheet now reflects the issuance of University of Kentucky bonds totaling $361.9 million. The current portion of debt that will be paid in the current fiscal year is $9.6 million. Net assets have increased to $94.5 million from August fiscal year 2010, and total assets are at $1.2 billion. The combined census year-to-date August was 9.2 percent higher than budget and 5.2 percent higher