St. Vincent Cuts 49 Employees
St. Vincent Healthcare on Tuesday announced it will cut nearly 84 positions and close its employee child care center. This means Forty-nine employees will lose their jobs. Twenty-four open positions will be left unfilled and around 15 people will transition to other roles at the hospital. The child care center will close in 90 days, resulting in the lost of 22 jobs.
Hospital CEO Steve Loveless said that as the healthcare industry invests more in shorter hospital stays and patient care outcomes, the hospital has had to evaluate where to focus its resources, which led the hospital to make the cutbacks. When the hospital transitioned from provider-based billing to a freestanding model, the gross charge per visit dropped for patients, but so did the net revenue to the hospital. Some surgical procedures are now ambulatory or outpatient, getting patients home more quickly, and consequently reducing hospital revenues.