December 27, 2012 – Despite demand for services rising to its highest level in three years, University of Illinois health system’s operating loss widened to about $146 million in fiscal 2012, as expenses for everything from retirement benefits to supplies climbed. The University of Illinois Health Services Facilities System’s operating loss stretched to $146.4 million for the 2012 fiscal year that ended June 30, a 21 percent jump, from a $121.0 million loss in fiscal 2011, according to a new annual financial statement released this month. The operating loss for the health system, part of the U of I, includes fringe benefits of nearly $170 million, which are mostly covered by non-operating payments from the state of Illinois. Including those payments and other non-operating revenues, net assets increased $14.4 million in fiscal 2012.
Link to Full Article: http://www.modernhealthcare.com/article/20121227/INFO/312279991