MUSC board committee approves university, hospital and physician group budgets

A key Medical University of South Carolina board committee Thursday unanimously approved 2013-2014 budget plans for the university, the hospital and the physicians’ group.

The full board must approve the plans at its Aug. 9 meeting before it becomes official.

The university will need about $621 million to operate next year, said Ravi Srinivas, director of reporting for the university’s budget office. That’s about $2 million less than the current year.

About $83 million, or 13 percent, of that comes from state appropriations and other state sources. The rest will come from a variety of sources, including tuition, federal grants and contracts and private grants and gifts.

The Medical University Hospital Authority expects to bring in about $1.1 billion next year, about $30 million more than the current year. The hospital is expected to turn a profit of about $26 million after covering expenses.

The physicians’ group is expected to bring in about $281 million in operating money, about $2 million more than in the current year. And it is expected to incur about $250 million in operating expenses, leaving about $31 million in operating income.

Reach Diane Knich at 937-5491 or on Twitter @dianeknich.

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