(HARTFORD, CT) – Governor Ned Lamont and University of Connecticut President Radenka Maric today announced that they have received the final report from an independent, healthcare investment consulting firm that was engaged by the state to assist in the development of a strategic vision for the future of UConn Health’s clinical operations.
Produced by Cain Brothers, the report was commissioned late last year and provides an overview of different strategies and models for UConn Health to achieve a larger scale and greater financial stability.
“UConn Health is one of the most highly regarded academic medical centers in the country and has experienced significant growth in the last few years, but to take that next step – to be number one – we need to work collectively to expand the scale of the medical center’s clinical operations through strategic initiatives that reinforce its financial sustainability and enable it to achieve greater fiscal independence over the long term,” Governor Lamont said. “The research provided in this report provides a foundation for everyone at the table – including the UConn Health Board of Directors, the UConn Board of Trustees, the Comptroller’s Office, President Maric’s office, my administration, and others – to work together on solutions that will assist UConn Health in thriving for the next generation.”
“UConn Health holds immense significance not only for the community it serves but also for the researchers and future medical professionals who thrive within this world-class academic medical center,” Comptroller Sean Scanlon said. “I was honored to have been asked by Governor Lamont to lead the effort over the last year to develop a sustainable financial plan for UConn Health and am proud of the progress we have made. I look forward to working with Dr. Agwunobi, labor representatives, and management to assess the options presented in this report, with the aim of further enhancing the future of UConn Health.”
“For an organization approaching a transformative phase, it is always valuable to have a third-party assessment as part of its planning efforts,” Dr. Andrew Agwunobi, CEO of UConn Health, said. “We are therefore thankful to the governor for his partnership in providing us with this study which we will incorporate into our strategic discussions. We are still reviewing the report but agree with the key theme: UConn Health’s achievements in quality of care, medical and dental education, research, and growth for the people of Connecticut are impressive, but the next phase of excellence requires UConn Health’s clinical enterprise to broaden its scale and explore strategic initiatives to seek greater financial independence. We will be studying the report carefully as we engage in our planning this year.”
**Download: Final report from Cain Brothers on UConn Health