University Health System receives AA+ rating from S & P
—Higher credit rating is good news for Bexar County taxpayers —
(SAN ANTONIO – July 31, 1009) Standard & Poor’s has upgraded the Bexar County Hospital District credit rating to AA+, as the hospital district, dba University Health System plans to sell up to $290 million in bonds to fund its $899.4 million Capital Improvement Program. Following their annual reevaluations, the other two major rating agencies, Moody’s and and Fitch, kept their scores for University Health System the same at Aa2 and AA+, respectively.
“This is excellent news,” said University Health System President/CEO George B. Hernández, Jr. “Clearly, Standard & Poor’s is impressed with our strong fiscal track record, as well as our success in optimizing internal efficiencies, building partnerships to reduce duplication of services and maximizing every opportunity to improve the quality of care.”
University Health System’s commitment to quality and efficiency is demonstrated through its successful implementation of a complete electronic medical record and physician order entry system. In fact, University Health system is ranked among the top one percent of U.S. hospitals for digital integration of health information technology and has virtually eliminated all “paper” in the patient care environment.
The $899.4 million dollar Target 2012: Capital Improvement Program will basically double the current size of University Hospital and “right-size” diagnostic and treatment services at University Health Center – Downtown. The project includes a new 10-story tower to be constructed in front of University Hospital with a new and expanded Emergency Department; new operating suites, complete with advanced technology; and nursing units, comprised of single-patient rooms, to assure appropriate privacy and infection control measures for hospitalized patients. A new diagnostic and treatment facility on the University Health Center – Downtown campus will increase capacity and efficiency for patients, physicians and staff at University Health System’s oldest and largest ambulatory clinic. The project also includes expanded parking at both locations. Further information can be found at http://www.UniversityHealthSystem.com/capital-improvement-program.
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