OSU Medical Trust Finance Committee Minutes

OSU Medical Trust

12/11/2025 12:00 PMCST @ OSU Medical Center, 2nd Floor Boardroom, 744 W. 9th St., Tulsa

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Agenda

Notice of the meeting was given in writing in 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, Rick Brewster (remote), Melissa Cox, Deborah Dage, Mike Fields, Catherine Gann, Karlee Gholson, Amanda Hardt, Michael Herndon, Finny Mathew, Eric Polak, Jessica Russell, Johnny Stephens, Terri Tinkler, Erica Woolf

 

Absent:

Members: Tracy Poole

 

1. Call to order - Trustee Brett Lessley, Committee Chairman (Presenters: Brett Lessley)
   1. A Quorum was established, and the meeting was called to order at 12:07 PM by Brett Lessley.
2. Approval of the minutes from the October 23, 2025 meeting - Brett Lessley, Committee Chairman - ACTION (Presenters: Brett Lessley)
   1. File Name: Draft - OSU Medical Trust Finance Committee Minutes 10.23.2025.pdf 
   2. Motion: Motion to approve the minutes fromthe October 23, 2025, meeting.
   3. Motion moved by Jay Helm and motion seconded by Barry Steichen. Aye: Lessley, Steichen, Helm  Nay: None Abstain: None
3. Finance Reports - Eric Atkinson, CFO
   1. Review of Month to Date and Year to Date October 2025 Financials (Presenters: Melissa Cox, Eric Atkinson)
      1. File Name: OSUMT October 2025 Financial Presentation - Finance.pdf
      2. Melissa Cox for PS, LLC: Key Volume Statistics 
         • Hospital visits were favorable to budget due to Pulmonology and Orthopedic service lines.
         • New and establushed visits were favorable to budget due to Wound and Orthopedic service lines, as well as increased primary care visits at our Sand Springs and Harvard clinic locations.
         • Clinic FTE's are favorable to budget due to a few staff positions open in Orthopedic and Primary Care.
      3. Income Statement for October
         • Total revenue is favorable to budget due to increase in inpatient and outpatient services.
         • Total revenue is favorable to prior year due to new service lines.
         • S&B are unfavorable to budget due to physician productivity bonuses.
         • Supplies are favorable to budget due to lower than anticipated immunization cost.
         • Contract services are unfavorable to budget due to increased collection fees and physician fees.
      4. Income Statement YTD
         • Net Patient revenue is favorable to budget due to increase in inpatient and outpatient services.
         • Other revenue is favorable due to quality payments, resident clinic coverage, and breast surgery coverage.
      5. Eric Atkinson for OSUMC: Key Volume IP Statistics
         
         • Admissions are favorable to budget for the month and prior year.
         • Average length of stay is better than prior year.
         • Acuity is up this month.
      6. Key Volume OP Statistics
         • ED visits tracking close to budget.
         • Surgery line items seeing growth:
           • Orthopedics is picking up.
           • General surgery is remaining strong.
           • Cath lab is favorable to budget.
      7. Income Statement for October
         • High volumes to budget consisting of an additional 136 admits, 296 surgeries, 42 Cath cases and 167 GI cases driving higher NPSR.
         • Professional fees prior year variances largely driven by subsidies (DIA for IR, DIA for diagnostic imaging and UTB for anesthesia).
         • Contract services lower than prior year due to $572k in YTD FY25 related to shuttle services and parking garage costs and insourcing IP Dialysis saving approximately $518k. Unfavorable to budget due to outside consultants of $200k.
         • Revenue Share exceeding budget based on monthly and YTD financial performance. Increase to PY based on projected EBITDA for FY26 (change in accrual methodology).
      8. Key Financial Ratios
         • Everything is trending in line with expectations.
      9. Transfer Analysis
         • Transfer requests were slightly down and acceptance was high.
      10. RN FTEs
          • Increase in contract labor tied to anticipated winter census.
      11. Consolidated Income Statement
          • Net income ended up favorable to budget.
   2. Review of Updated Cash Flow Projections as of November 2025 (Presenters: Eric Atkinson)
      1. File Name: OSUMT November Cash Flow Assumptions.pdf
      2. Eric Atkinson went over the cash flow projections and highlights included:
         • Expansion funding-$90 million is left in project balance with $62,500,000 in OSUMC cash reserves and $27,500,000 through a line of credit to supplement cash goal of 90 days.
         • He went over a 5yr projection for cash and debt service.
4. Unfinished Business - Trustee Brett Lessley, Committee Chairman (Presenters: Brett Lessley)
   • None
5. New Business - Trustee Brett Lessley, Committee Chairman (Presenters: Brett Lessley )
   • None
6. Adjournment - Trustee Brett Lessley, Committee Chairman (Presenters: Brett Lessley) 
   
   • Motion: Motion to adjourn the Finance Committee meeting at 12:59 PM.
   • Motion moved by Jay Helm and motion seconded by barry Steichen. Aye: Lessley, Steichen, Helm  Nay: None Abstain: None

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.