- Associated Press - Monday, February 17, 2014

LITTLE ROCK, Ark. (AP) - The University of Arkansas for Medical Sciences is making some changes in the hope of averting a projected $28 million operating loss that could result in some layoffs.

Chancellor Dan Rahn said Monday that he is working to bring in an extra $40 million for the medical school and hospital over the next 18 months.

Arkansas Business reports (http://is.gd/E5CTbE ) that Rahn says it’s important for legislators to approve the private health insurance option that is coming to a vote this week. Otherwise the teaching hospital would lose 3 percent of its revenue.

Rahn says converting to electronic records and billing is expected to generate revenue through billing. UAMS will also work to conduct more clinical trials.

It will also look at purchasing contracts and other places to hold down costs.

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Information from: Arkansas Business, http://www.arkansasbusiness.com