UW Health to cut budget, jobs
Faced with rising costs and declining revenues, UW Health announced it would be cutting $80 million from its budget over the next 18 months, according to a story today in the Wisconsin State Journal.
Without noting how many jobs will be affected, UW Health CEO Dr. Alan Kaplan said that where possible, employees may be able to move to other positions within the organization, but most cuts will come from reducing agency labor, managing overtime, and not filling open positions.
Kaplan has long blamed the industry’s financial imbalances on several factors, including falling Medicare reimbursements and skyrocketing labor and pharmaceutical costs.
In November, SSM Health, owner of St. Mary’s Hospital and Dean Medical Group in Madison announced it would be cutting 1% of its jobs across its four-state territory.