Statewide — The University of Iowa Hospitals and Clinics will increase rates for its services by six-percent in the coming budget year. The Board of Regents approved the new rates Thursday. UIHC officials say the increase is especially needed now because of losses the health system suffered during the pandemic.
Chief Financial Officer Bradley Haws says shutting down surgeries alone was extremely expensive.
Besides the canceled surgeries and falling admissions, Haws says the added costs of handling COVID-19 dealt a blow to the state’s largest hospital. He says raising rates will help recoup some of those losses.
Haws says an infusion of millions of dollars from the federal government was key to stabilizing the facility’s finances over the past year.