OSU Medical Trust Finance Committee Minutes

OSU Medical Authority and Trust

Thursday, March 26, 2026 12:00 PMCDT
@ OSU Medical Center, 2d Floor Executive Boardroom, 744 W. 9th St., Tulsa

Agenda

Notice of the meeting was given in writing to the Oklahoma Secretary of State more than forty-eight (48) hours prior to the meeting, and the agenda of this meeting was posted at entrances of Oklahoma State University Center for Health Sciences and Oklahoma State University Medical Center twenty-four (24) hours prior to such meeting, excluding Saturdays, Sundays, and legal holidays, in compliance with the Oklahoma Open Meeting Act.

Attendance

Present:
Members: Jay Helm, Brett Lessley, Barry Steichen
Guests: Eric Atkinson, Liz Beesley (remote), Rick Brewster (remote), Clay Bullard, Melissa Cox, Mike Fields, Courtney Finocchiaro, Catherine Gann, Michael Herndon, Finny Mathew, Eric Polak, Christine Shasteen (remote), Johnny Stephens, Terri Tinkler, Erica Woolf
Absent: Tracy Poole

1. Call to order (Presenters: Brett Lessley)
   • A quorum was established, and the meeting was called to order at 12:10 PM by Brett Lessley
2. Approval of the minutes from the January 22, 2026 meeting - ACTION (Presenters: Brett
   Lessley)
   • File Name: Draft-OSU Medical Trust Finance Committee Minutes 1.22.2026.pdf
   • Motion: Motion to approve the minutes from the January 22, 2026 meeting.
   • Motion moved by Jay Helm and motion seconded by Michael Herndon. Aye: Lessley,
     Steichen, Helm, Nay: None Abstain: None
3. Finance Reports - Eric Atkinson, CFO
   1. Review of Month to Date and Year to Date February 2026 Financials (Presenters: Eric Atkinson)
      • File Name: OSUMT Jan and Feb 2026 Financial Presentation - -inance Committee.pdf
      • Eric Polak for PS, LLC
        • Key Volume Statistics
          • Hospital visits are favorable to budget due to increases in orthopedic surgery and pulmonary critical care.
          • New providers are ramping up.
          • Clinic FTE's'are favorable to budget due to open positions.
          • Employed providers are low due to the leaving of Dr. Frederick.
        • Income Statement for February
          • Statement for February
          • Net revenue unfavorable due to credentialing delay with new providers that just now came through.
          • Salaries and benefits are unfavorable due to productivity bonuses. Productivity was higher so their RBU bonus was higher.
          • Repairs and maintenance unfavorable due to updates at the Sand Springs clinic and A/C issues at the Riverside clinic.
        • Income Statement YTD
          • There are some mismatches on the budgeted vs. accounting for some of the leased position insurance.
      •  
      • Eric Atkinson for OSUMC
        • Key Volume IP Statistics
          • Favorable to budget on admissions for month and YTD. Consistently higher volumes than expected.
          • Length of stay has improved from last year and what was budgeted.
        • Key Volume OP Statistics
          • Surgeries were up from budget.
          • Cath Lab is favorable to budget.
          • Mammo volume is very high for the month and YTD.
        • Income Statement for February
          • $1.6M favorable for Net Revenue due to Cath Lab, Surgery, and IR.
          • Patient days have remained the same, but admits increasing so getting paid more DRG's'on those same number inpatient days.
          • Salaries and wages favorable to budget due to higher Contract Labor.
          • Contract labor is high but should reduce moving forward coming out of sick season.
          • Net income favorable by $900,000.
        • Income Statement for YTD
          • $3.4 million net revenue favorable to budget for YTD.

      Finny Mathew discussed the amended contract for IR service line which was a significant increase that shows in the IR service line in general. We are not increasing staffing or increasing expense, just getting prepared for potentially more volume from the VA. Catherine Gann gave background on OCRSI request for partnership with biopsies and how it has significantly increased volume over the last six months. We are now also partnering with them on infusions which is also going well. There may come a time when a discussion needs to be had whether the IR group needs to be employed by the hospital to keep the learning opportunity, partner with other organizations for them, or carved off.

   • Key Financial Ratios
     • Net patient revenue per adjusted admit is extremely high.
     • Days cash on hand is still strong at 191. Just received first PO tied to the equipment for the expansion which will start to decrease our cash flow. Barry Steichen asked for a high-level cash flow vs. budget chart going forward.
   • Transfer Analysis
     • High accept rate.
   • RN FTES
     • In-house slightly increased
   • Payor Mix
     • This year we had a 2% lift in commercial. There was an additional $250,000 a month in additional commercial collections related to Orthopedics.
   • Consolidated Income Statement
     • Finished the month favorable by $900,000 and $3.6M favorable YTD.
   • ACR Proforma Comparison
     • The state plan blueprint has not been approved yet. We do currently have a reserve on the additional based off of our calculation of 100% of the FY25 amount and then about 63% of the FY26 amount.

   There is a new GASB-103 that says governmental hospitals will need to move
   their supplemental payment programs out of operating revenue and below the
   line to non-operating revenue. Clay Bullard gave an update on budget with OHCA. If the appropriations are not done a few things could happen. One is a rate cut to all providers across the board as low as 5 and as high as 8 percent. To OSU that means the elimination of the 340B Pharmacy, reduction of the SHOP amount, and removing adult dental. It would cut every program that is not federally or state required.

   2. Update on the FY26 Budgeted Merit & Market salary adjustments. (Presenters: Eric Atkinson, Erica Woolf)
      • Eric Atkinson gave an update about a 3% merit increase and 2.5% market increase that happened this year. There are two areas lagging behind in the market, so it has been determined to increase RT respiratory therapy and RN pay. The way this will be done is still under construction. Finny Mathew gave feedback from the physicians that they believe it is much more important that we have experienced nursing staff here instead new grads.
4. Discussion and consideration for recommendation of resident and fellow salary
   increases for the next academic year. (Presenters: Eric Atkinson)
   • Eric Atkinson gave an update on the Liaison Committee's' recommendation of a 4% rate increase. Jay Helm discussed he did not want to fall too far behind. Barry Steichen discussed the other cuts that are coming down the road and wants the Board to remember those. Jay Helm recommended to the Trust to approve resident and fellow salary increases of 6% for the next academic year.
   • Motion: Recommendation to the Trust to approve resident and fellow salary increases of 6% for the next academic year.
   • Motion moved by Jay Helm and motion seconded by Barry Steichen. Aye: Lessley, Steichen, Helm Nay: None Abstain: None
5. Review of Insurance Policies Changes Effective May 2026 (Presenters: Eric Atkinson)
   • File Name: 26-27 Premium Summary --edPro.docx
   • File Name: 26-27 Premium Summary - -udson.docx
   • Eric Atkinson discussed the changes for this year. FM Global a 5% rate reduction but have a premium increase and have been offered a 5% reduction over the next three years if we sign up with them. The recommendation is to go with the non-admitted carrier, Hudson, for general and professional liability.
6. Unfinished Business (Presenters: Brett Lessley)
7. New Business (Presenters: Brett Lessley)
8. Adjournment (Presenters: Brett Lessley)

Minutes signed off by Oklahoma State University Medical Trust Finance Committee Chairman, Brett Lessley.

If you would like a copy of these minutes, please reach out to Terri Tinkler at osuma@okstate.edu.