St. Vincent Health β the second-largest hospital system and the 6th-largest employer in Indiana, with 22 hospitals employing about 17,300 people β announced it will eliminate about 865 jobs to reduce its labor costs by 5%. The job cuts are to save money as Obamacare (Patient Protection and Affordable Care Act) and Congressional budget cuts promise to take a bite out of hospital reimbursement rates. Obamacare calls for $155 billion in cuts to hospitalsβ Medicare payments over 10 years. Then the fiscal-cliff deal on Jan. 1 of this year chopped out another $15 billion. And the budget sequester, which hit March 1, looked ready to sap another $10 billion.
Posted on: Mon, 08 Jul 2013 08:17:17 +0000
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