UK HealthCare Announces Strategic Plan

Contact: Jay Blanton and Amanda Nelson

 

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During the peak of construction, 1,600 jobs will be created. When construction is finished, there will be 1,300 additional jobs created at the medical complex, with the potential for more jobs as the research portfolio of the university expands.

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Faculty Recruitment Fact Sheet

Strategic Plan Fact Sheet

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LEXINGTON, Ky. (Dec. 14, 2004) -- UK HealthCare officials today announced a strategic plan that will help move the University of Kentucky toward top-20 status, enhance the specialized medical services available to Kentuckians, strengthen the health care system in rural Kentucky through greater partnerships, and stimulate significant regional economic development growth.

“We are putting forth a bold vision that will move UK HealthCare into the upper echelons of academic medical centers by expanding research and strengthening our nationally recognized clinical specialty programs,” said Dr. Michael Karpf, UK executive vice president for health affairs. “It will also enhance the university’s mission as a land-grant institution by working in partnership with rural providers and hospitals to bring additional specialized care to the communities we serve.”

UK President Lee T. Todd Jr. said the strategic plan represents a “tremendous step forward in improving the delivery of high-quality health care in Kentucky while serving as an important economic stimulus to the region and the state.”

Highlights of the strategic plan approved today by the UK Board of Trustees include:

  • A new UK HealthCare patient care facility featuring all private rooms. The new facility, which will ultimately replace the original hospital structure, will support the complex services that physicians deliver while providing a more appealing environment for patients and their families, Karpf said.
  • Expansion of outpatient space at Kentucky Clinic South to accommodate primary care in a supportive environment. 
  • Enhancement of Kentucky Clinic and expansion of ancillary diagnostic support services to provide the best of complex outpatient care.
  • Immediate enhancements to patient-care areas, including operating and chemotherapy suites and the Emergency Department.
  • The recruitment of new – and the development of existing – faculty in sub-specialty areas that will ensure that patients receive the best of contemporary health care.
  • A commitment to quality, safety and service that sets national standards while emphasizing cost effectiveness.

The cost of the patient care facility is currently estimated between $330 and $375 million. These initiatives will be funded through existing hospital revenues and a $250 million bond issue financed by UK HealthCare. The bond issue will require state legislative approval.

Karpf said the hospital is in a strong financial position to handle the capital construction costs. Karpf said UK HealthCare has an excellent credit rating, adding that UK Hospital has experienced a significant increase in clinical activity, with discharges up 13 percent from the first quarter of fiscal year 2004.

An early indication of UK HealthCare’s momentum is the recruitment of a dozen nationally recognized senior leaders from outside UK and the retention and promotion of several senior leaders from within UK within the past year, Karpf said.

During the peak of construction, 1,600 jobs will be created. When construction is finished, there will be 1,300 additional jobs created at the medical complex, with the potential for more jobs as the research portfolio of the university expands.

“It is the right plan at the right time for an institution that is making a positive difference in Kentucky and nationally and is excited about the challenge to be the very best it can be,” Karpf said.


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