Mike Burke is the chief financial officer at NYU Langone Medical Center in New York City. He sat down with editor Richard Pizzi to discuss how the finance team at the medical center dealt with the recession.
What’s been the biggest financial impact of the recession on NYU Langone Medical Center?
The biggest impact on NYU has been the impact of the recession on state government. The cut in the tax revenue stream in the state has led to a cut in Medicaid payments. Another big impact was the liquidity crisis in the stock market and the impact that had on financial returns. Like a lot of people, we took a hit on our investments.
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