JimBob
01-19-2008, 03:13 PM
OSU regents sets aside money to settle Tulsa hospital dispute
By The Associated Press
1/19/2008 1:14 PM
Last Modified: 1/19/2008 1:15 PM
OKMULGEE -- The Oklahoma State University regents have set aside $12 million to settle a dispute over the university's medical residency program in Tulsa.
The board on Friday voted to put $12 million in an escrow account that would be paid upon settlement of a dispute to Ardent Health Services, owner of the Oklahoma State University Medical Center, home of OSU's osteopathy residency program.
The proposed settlement includes Ardent giving the hospital to OSU but continuing management for 10 years.
"That agreement has to be consummated before that money is spent, and it will be held in escrow to see if that happens," regent Calvin Anthony said. "This is not finalizing that deal. That is still up for discussion." Ardent, OSU and the Oklahoma Health Care Authority have been in mediation since Ardent sued the OHCA over the agency's withholding of federal education funds
OSU's osteopathy college trains many of the rural doctors in Oklahoma and would be jeopardized without an in-state residency program.
But medical school president John Fernandes is optimistic about negotiations.
"We're talking now," he said. "We're not fighting."
Ardent expects to lose $9.9 million this year operating the hospital, which previously was known as Tulsa Regional Medical Center.
But Palmer said the hospital would be a revenue maker for the state, which would have lower malpractice insurance costs and not need to pay taxes.
The hospital has 132 medical residents and interns in 11 residency programs.
By The Associated Press
1/19/2008 1:14 PM
Last Modified: 1/19/2008 1:15 PM
OKMULGEE -- The Oklahoma State University regents have set aside $12 million to settle a dispute over the university's medical residency program in Tulsa.
The board on Friday voted to put $12 million in an escrow account that would be paid upon settlement of a dispute to Ardent Health Services, owner of the Oklahoma State University Medical Center, home of OSU's osteopathy residency program.
The proposed settlement includes Ardent giving the hospital to OSU but continuing management for 10 years.
"That agreement has to be consummated before that money is spent, and it will be held in escrow to see if that happens," regent Calvin Anthony said. "This is not finalizing that deal. That is still up for discussion." Ardent, OSU and the Oklahoma Health Care Authority have been in mediation since Ardent sued the OHCA over the agency's withholding of federal education funds
OSU's osteopathy college trains many of the rural doctors in Oklahoma and would be jeopardized without an in-state residency program.
But medical school president John Fernandes is optimistic about negotiations.
"We're talking now," he said. "We're not fighting."
Ardent expects to lose $9.9 million this year operating the hospital, which previously was known as Tulsa Regional Medical Center.
But Palmer said the hospital would be a revenue maker for the state, which would have lower malpractice insurance costs and not need to pay taxes.
The hospital has 132 medical residents and interns in 11 residency programs.