VCU Health System CEO Sheldon Retchin provided an update of the state-supported health system May 15 during a joint meeting of the boards of VCU Health System and Virginia Commonwealth University.

Retchin said despite financial challenges, the health system will bring in $17.8 million in “excess” for fiscal year 2009.

“We will still manage to have about an $18 million bottom line,” said Retchin. “Believe me, there are many health systems around the country that would be absolutely ecstatic to finish up a year like this and still have a bottom line like that.”

Retchin also talked about ongoing plans for a Children’s Medical Center with an attached parking garage at the corner on Broad Street between 10th and 11th streets. This photo shows an old rendering of what such as facility might look like.

The health system recently announced a new recruit to chair the pediatrics department, Dr. Bruce K. Rubin, pictured in the photo.

Rubin, who starts July 1, was previously at Wake Forest University in Winston-Salem, N.C.

“We have an ambitious agenda for pediatrics and children’s services on the block. We now own the entire block now as of this year,” said Retchin, who presented an architectural rendering of what such a project might look like “once the credit markets loosen up and our cash reserves can increase and markets return.”

“This will include a deck for patients and their families for parking, an ambulatory care facility for pediatrics and possibly some research space, as well,“ said Retchin.

VCU and the other health systems in the region had talked about jointly developing a children’s hospital, but that project was shelved to the disappointment of some in the community.

Retchin also responded to criticism of VCU by some community doctors that was reported in Style Weekly magazine. The article talked about whether VCU was doing enough to take care of the poor and uninsured considering the public dollars it gets.

At the center was the Virginia Coordinated Care program, a VCU Health System program which pays community doctors to provide primary care to low-income uninsured Richmond residents.

“We did take it in the chin in our plan to restructure some of it,” said Retchin.

Retchin said VCU did modify the program – no longer allowing VCC patients to go to Bon Secours-owned Richmond Community Hospital. The new Critical Care Hospital that opened last fall made that arrangement no longer necessary.

But he said the relationship with 50 community doctors has been “re-emphasized.”

“We are having meetings to make sure our specialists are available to this group.” Retchin said.

The Virginia Health Information Web site has information on hospital financials and services. The Central Virginia Health Planning Agency has information on health care projects.

HKS Architects rendering of an initial concept of a children’s health care facility at VCU