Jan. 2, 2014
OSU Medical Center transferred to state trust to enhance mission
The Oklahoma State University Medical Center, the teaching hospital for the OSU College of Osteopathic Medicine, has been formally transferred from a City of Tulsa trust to a state of Oklahoma trust, called OSU Medical Trust. The transfer was part of an agreement with state lawmakers during the 2013 legislative session to provide $13 million in funding for the medical center.
"OSU Medical Center has a statewide mission to train physicians for our state and provides vital medical services to people in rural and underserved areas of Oklahoma," said Howard Barnett, OSU Medical Authority chief executive officer. "The change was necessitated by our need to further that mission and continue to provide training for medical students and graduates of the OSU Center for Health Sciences."
As part of the agreement, ownership of the OSU Medical Center building transfers from the OSU Medical Center Trust to the OSU Medical Authority, a state agency that is affiliated with the OSU Medical Trust. The Tulsa City Council voted to relinquish the city's beneficiary interest in the medical center in October. The transaction, effective Dec. 6, 2013, was also approved by Gov. Mary Fallin and Oklahoma Attorney General Scott Pruitt.
"While OSU Medical Center will continue to provide vital health care services to the citizens of Tulsa, our medical staff treats patients from across the state through the use of telemedicine and other services," said Jerry Hudson, chair of the OSU Medical Center Trust. "The transition to a state agency will enhance our ability to be seen as a statewide partner in health care in Oklahoma."
Members of the OSUMA board are appointed by the Governor, Senate President Pro Tempore and Speaker of the Oklahoma House of Representatives or hold positions at the OSU Center for Health Sciences, the Oklahoma Health Care Authority or OSU Medical Center.
The largest osteopathic teaching hospital in the nation, OSU Medical Center trains 154 medical residents, the vast majority of whom practice in Oklahoma after they complete their residency programs. Since 2004, these practices have generated $135 million in economic activity annually and support more than 2,650 direct and indirect jobs, including a sizable number of jobs outside the health care sector. The medical center serves more than 46,000 emergency room visits each year and provided more than $24.5 million in charity care last year.
"One of the primary factors that determines where doctors will set up their practice is where they complete their residency and the OSU Medical Center provides the majority of the residency slots for our students," said Dr. Kayse Shrum, president of OSU Center for Health Sciences and a member of the OSU Medical Authority. "It is essential for the success of our students and the improvement of health care in Oklahoma that we have a teaching hospital working hand-in-hand with our medical school."
OSU Medical Center services will continue to operate uninterrupted and the change will have no impact on employees.