Costs from the COVID-19 pandemic dramatically affected financial results for Michigan Medicine’s clinical operations, resulting in a forecasted $3 million operating loss, after government assistance, on $4.7 billion in revenue for the fiscal year that ends June 30.
Sparrow Health System and Michigan Medicine, the academic medical center of the University of Michigan, have signed an affiliation agreement paving the way for ongoing collaboration between the two systems.
Michigan Medicine’s adult hospitals were ranked No. 5 in the nation by U.S. News & World Report “Best Hospitals” rankings for 2018-19, an honor that measures excellence in patient care.
Michigan Medicine reported fiscal year-end results today, with an anticipated 2.4 percent ($103 million) operating margin on budgeted operating revenues of $4.3 billion for the academic medical center of the University of Michigan.
Saint Joseph Mercy Health System (SJMHS) and Michigan Medicine, the academic medical center of the University of Michigan, have signed a definitive agreement to establish a master affiliation and a joint venture for the 133-bed St. Joseph Mercy Chelsea hospital (SJMC), effective immediately.
Health care and business leaders were appointed Thursday to the University of Michigan Health System Board, after approval from the U-M Board of Regents.
