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COUNCIL BLUFFS – Hospitals and Clinics at the University of Iowa suspended plans for a $ 120 million expansion of their Iowa River Landing clinic in Coralville "pending improvement of financial perspectives" in the health care system.
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Confirmation of the freeze on that project – to which UI Health Care has invested $ 5.85 million so far – occurs when UI administrators announced a five-month campus-wide moratorium on "project work" on Wednesday.
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The Vice President UI senior, Rod Lehnertz, said the moratorium is "necessary and necessary to address the $ 5.49 million cut by the state during the last quarter of this fiscal year," which ends June 30.
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"This it will be an effort to shed cash expenditures and cash flow in the last quarter, "Lehnertz said at a meeting of the Board of Regents property and facilities committee.
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It is expected that the president of UI, Bruce Harreld, give details of the freeze during the meeting of the board of directors on Thursday, and Lehnertz refused to discuss the affected projects before the presentation.
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The university reported last summer of $ 278.9 million in new capital works for fiscal year 2018, which began on July 1. Among the projects listed are a $ 50 million art museum, a Tippie College business center for $ 30 million, $ 10 million renovation at Field House, a new $ 10.8 million Finkbine golf club house and $ 50 renovation. million in Main Library.
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UI Hospitals and Clinics had $ 240 million in new projects on its 2018 list, including Iowa River Landing's $ 120 million expansion.
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Brooks Jackson , vice president of medical affairs at UI Health Care, said Wednesday that his organization is following the largest campus moratorium, although some warnings are possible.
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"No we're going to build big buildings, "Jackson said. "But if it's a patient safety issue, we'll make exceptions."
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All three Public universities in Iowa, along with their UI health care operation, are trying to cope with significant financial obstacles. Faced for the second year with a projected budget deficit, lawmakers again enacted mid-year cuts that have lowered state support for general education for more than two years by more than $ 40 million.
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The round of cuts by this year has had a cut in the UI of $ 5.5 million and the state of Iowa cut $ 5.4 million before July 1.
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UIHC is concerned with reducing government reimbursements for medical care, increased costs, changing consumer demands and uncertainty with the Affordable Care Act, among other challenges.
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Hospitals and clinics began the current budget year with a deficit of $ 7.2 million.
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Some of The hospital's budget challenges involved the $ 360 million 14-story Stead Family Children's Hospital, which opened in February. The project was plagued by cost overruns and disputes by contractors.
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One panel Arbitration ordered last month to UIHC to pay a contractor a $ 21.5 million award. The university initially fought against it, although an agreement could come. And UIHC is in court with another contractor.
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In response To its financial challenges, UI Health Care has initiated an $ 86 million plan to reduce expenses and increase revenues. The administrators told the regents on Wednesday that they are making progress, achieving $ 41.4 million in savings so far with 60 percent of the initiatives planned in the second half of the budget.
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Of the goal, $ 46 million were tied to reduced labor costs, targeting the equivalent of 500 full-time positions.
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Up to March 9, according to administrators, the hospital cut 487 jobs through attrition and layoffs, although Jackson said it weighs heavily in favor of attrition.
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When deferring Starting some capital projects and acquiring large equipment, the hospital is reducing capital expenditures in this budget year by approximately $ 60 million.
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Authorities they still announced plans to fund $ 142.7 million in capital and equipment projects in fiscal year 2019, but Jackson said, "We'll have to see how long this moratorium lasts."
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In the calendar for your capital expenditures in the next budget year is an improvement of almost $ 20 million or the replacement of radiology equipment; more than $ 10 million for an acute leukemia and bone marrow transplant unit; and nearly $ 9 million for a pediatric specialty clinic expansion.
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It is assumed that the expansion of Iowa River Landing allows outpatient orthopedic services to be relocated from the main campus of the hospital, which is normally close to capacity, and to provide enough space to accommodate up to 200,000 annual visits to the clinic.
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UI Hospitals and Clinics opened its main clinic at Iowa River Landing in October 2012. Although this expansion is being postponed, spokesman Tom Moore said the project will occur over time.
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