Hunter
06/02/22
The Iowa Board of Regents approved a 6% chargemaster rate increase at University of Iowa Hospitals and Clinics on Wednesday.
The Gazette reports that officials say the hike could have been higher given the current economic conditions, but they are restrained by limits on charge increases in UIHC payer contracts. The University has stated that its charges are relatively low compared to peer academic institutions.
The increased revenue will help the facility keep up with their rising costs for drugs and medical equipment. Most patients won’t feel the impact of the higher rates, because they will be absorbed by payers like Medicare and Medicaid. But patients who pay out of pocket or get specialty care services will be affected.
The newspaper reports that first quarter operating income was 62 percent higher than anticipated, and 27 percent higher than last year. However, net income is 26 percent below budget due to losses from investments and other non-operating income.
The increase goes into effect July 1st.
