UHS Has Healthy Year; Nearly $50 Million Surplus

The largest health provider in Eastern Carolina says it had a healthy year, with nearly $50 million dollars in surplus.

University Health System of Eastern Carolina, which next month will change its name to Vidant Health, had revenues of $1.3 billion in 2011. The system made $49.4 million, compared to last year's surplus of $39 million.

UHS is the parent for Pitt County Memorial Hospital and nine other hospitals in the area.

The system says says because of increased patient demand, it added some 270 new positions at its hospitals, clinics and offices.

UHS says all of their hospitals outperformed their operating margin objectives. Because the system is not-for-profit, UHS says it will reinvest all of its income back into the hospitals.

In 2011, UHS provided care to approximately 63,000 inpatients and 600,000 emergency and outpatients at its various facilities. Duplin General Hospital joined the system at the beginning of the fiscal year and Beaufort Regional Health System and Pungo District Hospital joined the group at the end of the fiscal year.


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  • by Barlow Location: Winterville on Dec 8, 2011 at 02:49 AM
    Like any for profit business, this one will need to make more revenue every year. If you can pay or have insurance they will be more than willing to give you all the treatment and tests you need (and even more than you need I'm sure). And if you don't have the money? Well, that makes you a liability doesn't it? Why would you be a good investment for treatment? You wouldn't. If you get treated at all, it will be minimal. Good healthcare needs to be a right, not a privledge for those who have. The US needs to join the rest of the western civilized world and do what is right and humane for it's citizens.
  • by rolling in $dough$ Location: Washington on Dec 7, 2011 at 08:48 PM
    WOW! How did they do it? $50 million - Hmmm that rings a bell. Yea, that's the exact amount that UHS was granted in their Bond Resolution to fund the Beaufort County Hospital deal($25Million) and pay some outstanding miscellaneous debts ($25Million).
    • reply
      by BHS worker on Dec 12, 2011 at 06:12 AM in reply to rolling in $dough$
      Your information is highly incorrect.
  • by Kenneth Location: Grimesland on Dec 7, 2011 at 07:34 PM
    Vidant or UHS of Eastern North Carolina had better enjoy their $50 million surplus because once Newt Gingrich and the Republicans take control of Washington, only the super rich will have access to health care. With only cash paying patients seeking treatment at Vidant Hospital, the doors will close and the great former Pitt County Memorial Hospital complex will become the home to pigeons and homeless people.
  • by ruby Location: Beaufort County on Dec 7, 2011 at 05:43 PM
    Golly!!! $50 Million Surplus - and NC State audit of ECU released shows UHS?PCMH threw a few million into ECU acquiring the Leo Jenkins Cancer Center and equipment for a tidy sum. On June 10, 2011, the University entered into an agreement with Pitt County Memorial Hospital (PCMH) to sell the Leo Jenkins Cancer Center (LJCC)operation. PCMH paid $8,164,862.63 for the value of the practice as determined by a third party. This is reflected as a Special Item on the Statement of Revenues, Expenses, and Changes in Net Assets. As part of the agreement, the University also sold equipment valued at $11,280,137.37 to PCMH. The sale of the equipment resulted in a gain of $3,016,591.05, which is reflected as part of the overall Gain on Sale of Fixed Assets in the Statement of Revenues, Expenses, and Changes in Net Assets. As described in Note 16C, the University simultaneously entered into an agreement with PCMH to operate as a joint venture a newly formed legal entity doing business as the Leo Jenkins Cancer Center. Are there plans to eventually rename the Leo Jenkins Cancer Center - VIDANT Cancer Center? Whats next - Brody School of Medicine - What' their price?
  • by NiceGuy on Dec 7, 2011 at 05:20 PM
    No offense to anyone, your daily rate of $ 8,000 per day if you don't have insurance is so expensive that it may save your life but is your economic death. It is a business, you must pay the bills but with those prices who can afford to live? I know because my stay for four days was $ 32,000.
  • by PCMH Employee on Dec 7, 2011 at 04:49 PM
    You should be thankful that we have a great hospital right out our backdoor and that we don't have to go so far away to be treated! The more money they make, the more they will have to spend on state of the art things that can save peoples lives.
    • reply
      by DoubleUp on Dec 7, 2011 at 05:11 PM in reply to PCMH Employee
      Double your post, double your bill!
    • reply
      by ???????? on Dec 7, 2011 at 10:05 PM in reply to PCMH Employee
      I drive to Duke.Hey, they get alot of money and its still called Duke.
  • by PCMH Employee on Dec 7, 2011 at 04:49 PM
    You should be thankful that we have a great hospital right out our backdoor and that we don't have to go so far away to be treated! The more money they make, the more they will have to spend on state of the art things that can save peoples lives.
  • by Anonymous on Dec 7, 2011 at 04:48 PM
    That's 50 million going back into the local economy. Better than the for profits which would take the profit and give it their share holders. Way to go UHS, Vidant or what ever you wish to be called.
  • by Hal Location: Williamston on Dec 7, 2011 at 04:48 PM
    Two things. 1. Surplus is really Profit. 2. $49.4 million is only 3.8% of 1.3 Billion. Not that much!!
    • reply
      by UHS Hourly Worker on Dec 12, 2011 at 06:26 AM in reply to Hal
      I agree - it's actually about an average profit margin for a community/teaching hospital - here's a link to a March 2011 report on profitability of hospitals - http://healthcare.thomsonreuters.com/thought-leadership/assets/HospOperatingTrendsQuarterlyMarch2011.pdf
  • by Anonymous on Dec 7, 2011 at 03:57 PM
    Well I guess so! After all the charge an arm and a leg! No pun indeeded. Seriously, they charge outrageous fees to the patients for kleenex, etc, then tack it on the bill as misc. Not listing items just a grand amount.
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