Stanford, UCSF release fiscal year 2000 financial results
Bylaws approved and available to medical staff
Cancer services integrated as center nears construction
Special panel working to review allegations against three physicians
Memorial service scheduled for pediatrician Victor Vaughan
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The Friends of Nursing Holiday tree lit up Dec. 6 in the hospital atrium to the piano music of Gary Fry, a retired Palo Alto Medical Foundation cardiologist, and the traditional seasonal vocals of Gaye Bruce of nursing administration. Proceeds from sales of decorations placed on the tree benefit Friends of Nursing patient education projects. For further information, call 723-5181.
The Board of Directors of UCSF Stanford Health Care on Dec. 13 released financial results for Sept. 1, 1999, through March 31, 2000 - the final seven months of the previously merged UCSF Medical Center and Stanford Medical Center.
During the final seven months of merged operations, UCSF Stanford Health Care operated at a loss of $127 million. This brings the total losses during the 29 months of the merger to roughly $176 million. According to the merger agreement, the losses were split about evenly between the two entities. These losses occurred during the time of the merger and had the effect of decreasing the net assets returned to each entity after the merger termination.
In
addition to announcing the results for the first seven months of the 1999-2000
fiscal year, officials at Stanford Medical Center (Stanford Hospital and
Clinics and Lucile Packard Children's Hospital) released financial results
for the last five months of the fiscal year, which ended Aug. 31. Between
April and August, Stanford Medical Center reported a loss of approximately
$48 million. The majority of this loss was attributable to one-time, non-recurring
expenses that included costs associated with the June/July nursing strike
and several accounting adjustments.
