University of Toledo examining options for future of UTMC
Feb. 10, 2020: According to UT, facing the same economic
realities of a rapidly evolving healthcare industry that
confront most independent hospitals, the University of Toledo
[UT] is thoroughly examining the operations and services of
the University of Toledo Medical Center (UTMC) in the
context of the current healthcare environment. This is being
undertaken to determine the best options moving forward for the
well- being of the University, its faculty, staff and students,
and the Toledo community.
In recent years, UTMC has responded to the changing demographics
and healthcare needs of our community by increasing its focus on
primary care with the opening of the Comprehensive Care Center
(2019), transitioning its Trauma Center to a Level 3 facility
(2019) and expanding behavioral health services with the
addition of an in-patient detoxification unit (2017).
“We have been investing in UTMC to help strengthen and expand
the services most needed in our region because it is the right
thing to do for our employees and the right thing to do for our
neighbors,” UToledo President Sharon L. Gaber said.
“During this time, we’ve also been closely monitoring the
hospital’s financial health. We recognize the challenges at hand
and have outlined a process to evaluate options for the future
The University previously shared that the hospital’s losses for
fiscal year 2018 totaled $3.5 million and grew to $7 million in
fiscal year 2019. Halfway through the current fiscal year UTMC
losses stand at $12.6 million, as reported by UTMC CEO Dan
Barbee and UToledo CFO Matt Schroeder to the trustees on Monday.
“Unfortunately, the hospital is in an unsustainable financial
position in its current model,” UToledo Board of Trustees Chair
Mary Ellen Pisanelli said. “We are determined to work
with a sense of urgency to address the hospital’s current
financial situation and consider all options for UTMC moving
forward. We will be as transparent and inclusive as possible
throughout this process.”
UToledo has engaged advisors to review UTMC’s financial
information, current service lines, market conditions and
changing community needs, current and projected healthcare
industry trends and more.
According to UT, the process is expected to take several months.