Franciscan Alliance announces staff reduction

0

System-wide staff reductions will affect Franciscan Alliance’s 11 hospitals and health facilities in Indiana as the health system responds to the transformative shift in hospital economics. Officials said 275 employees or 1.4 percent of the workforce will be laid off as a result of the reduction. Franciscan Alliance has approximately 20,000 employees.

Officials said the healthcare industry is changing rapidly and economic pressures are forcing substantive changes in the field, including reduced reimbursements, new payer models, healthcare reform laws and shifts from inpatient to outpatient care.

“Franciscan Alliance has not been immune to such pressures and has found it necessary to align staffing levels to reflect lower patient volumes and reduced industry-wide reimbursements brought on by reforms associated with the Affordable Care Act,” stated Kevin Leahy, Franciscan Alliance president and CEO. “Recent trends and the new law are challenging healthcare providers to manage the continuum of care for patients more efficiently and effectively to ensure the same quality outcomes at reduced reimbursement levels.”

Like other health systems, Franciscan Alliance must cut its costs of care delivery over the next three years by 15 to 20 percent ($375 to $500 million) to remain viable. In addition to the 275 job cuts, another 650 full-time equivalent positions will be eliminated by cutting back on assigned hours, closing open positions, retirements and through attrition.

Leahy said the remaining 19,000 employees will see cutbacks in benefits in 2014. These cutbacks include the elimination of the 1.5 percent employer match to the 403b retirement savings program, elimination of the PTO buy-back program, higher employee contributions for healthcare insurance, no salary increases for management, and a new defined benefit/defined contribution pension for all co-workers not vested by Jan. 1 in the defined benefit pension plan. Officials said the cost savings from these, and other recent pay practice changes, will help preserve hundreds of other jobs which otherwise would have to be eliminated.

“We are profoundly aware of the impact our decisions have on the lives of our co-workers and their families,” Leahy stated. “Those whose jobs will be affected by the workforce reduction will be provided with severance, extended health insurance where eligible, and outplacement assistance.”


Current Morning Briefing Logo

Stay CURRENT with our daily newsletter (M-F) and breaking news alerts delivered to your inbox for free!

Select list(s) to subscribe to



By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact
Share.

Current Morning Briefing Logo

Stay CURRENT with our daily newsletter (M-F) and breaking news alerts delivered to your inbox for free!

Select list(s) to subscribe to



By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Franciscan Alliance announces staff reduction

0

System-wide staff reductions will affect Franciscan Alliance’s 11 hospitals and health facilities in Indiana as the health system responds to the transformative shift in hospital economics. Officials said 275 employees or 1.4 percent of the workforce will be laid off as a result of the reduction. Franciscan Alliance has approximately 20,000 employees.

Officials said the healthcare industry is changing rapidly and economic pressures are forcing substantive changes in the field, including reduced reimbursements, new payer models, healthcare reform laws and shifts from inpatient to outpatient care.

“Franciscan Alliance has not been immune to such pressures and has found it necessary to align staffing levels to reflect lower patient volumes and reduced industry-wide reimbursements brought on by reforms associated with the Affordable Care Act,” stated Kevin Leahy, Franciscan Alliance president and CEO. “Recent trends and the new law are challenging healthcare providers to manage the continuum of care for patients more efficiently and effectively to ensure the same quality outcomes at reduced reimbursement levels.”

Like other health systems, Franciscan Alliance must cut its costs of care delivery over the next three years by 15 to 20 percent ($375 to $500 million) to remain viable. In addition to the 275 job cuts, another 650 full-time equivalent positions will be eliminated by cutting back on assigned hours, closing open positions, retirements and through attrition.

Leahy said the remaining 19,000 employees will see cutbacks in benefits in 2014. These cutbacks include the elimination of the 1.5 percent employer match to the 403b retirement savings program, elimination of the PTO buy-back program, higher employee contributions for healthcare insurance, no salary increases for management, and a new defined benefit/defined contribution pension for all co-workers not vested by Jan. 1 in the defined benefit pension plan. Officials said the cost savings from these, and other recent pay practice changes, will help preserve hundreds of other jobs which otherwise would have to be eliminated.

“We are profoundly aware of the impact our decisions have on the lives of our co-workers and their families,” Leahy stated. “Those whose jobs will be affected by the workforce reduction will be provided with severance, extended health insurance where eligible, and outplacement assistance.”


Current Morning Briefing Logo

Stay CURRENT with our daily newsletter (M-F) and breaking news alerts delivered to your inbox for free!

Select list(s) to subscribe to



By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact
Share.

Current Morning Briefing Logo

Stay CURRENT with our daily newsletter (M-F) and breaking news alerts delivered to your inbox for free!

Select list(s) to subscribe to



By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Franciscan Alliance announces staff reduction

0

System-wide staff reductions will affect Franciscan Alliance’s 11 hospitals and health facilities in Indiana as the health system responds to the transformative shift in hospital economics. Officials said 275 employees or 1.4 percent of the workforce will be laid off as a result of the reduction. Franciscan Alliance has approximately 20,000 employees.

Officials said the healthcare industry is changing rapidly and economic pressures are forcing substantive changes in the field, including reduced reimbursements, new payer models, healthcare reform laws and shifts from inpatient to outpatient care.

“Franciscan Alliance has not been immune to such pressures and has found it necessary to align staffing levels to reflect lower patient volumes and reduced industry-wide reimbursements brought on by reforms associated with the Affordable Care Act,” stated Kevin Leahy, Franciscan Alliance president and CEO. “Recent trends and the new law are challenging healthcare providers to manage the continuum of care for patients more efficiently and effectively to ensure the same quality outcomes at reduced reimbursement levels.”

Like other health systems, Franciscan Alliance must cut its costs of care delivery over the next three years by 15 to 20 percent ($375 to $500 million) to remain viable. In addition to the 275 job cuts, another 650 full-time equivalent positions will be eliminated by cutting back on assigned hours, closing open positions, retirements and through attrition.

Leahy said the remaining 19,000 employees will see cutbacks in benefits in 2014. These cutbacks include the elimination of the 1.5 percent employer match to the 403b retirement savings program, elimination of the PTO buy-back program, higher employee contributions for healthcare insurance, no salary increases for management, and a new defined benefit/defined contribution pension for all co-workers not vested by Jan. 1 in the defined benefit pension plan. Officials said the cost savings from these, and other recent pay practice changes, will help preserve hundreds of other jobs which otherwise would have to be eliminated.

“We are profoundly aware of the impact our decisions have on the lives of our co-workers and their families,” Leahy stated. “Those whose jobs will be affected by the workforce reduction will be provided with severance, extended health insurance where eligible, and outplacement assistance.”


Current Morning Briefing Logo

Stay CURRENT with our daily newsletter (M-F) and breaking news alerts delivered to your inbox for free!

Select list(s) to subscribe to



By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact
Share.

Current Morning Briefing Logo

Stay CURRENT with our daily newsletter (M-F) and breaking news alerts delivered to your inbox for free!

Select list(s) to subscribe to



By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Franciscan Alliance announces staff reduction

0

System-wide staff reductions will affect Franciscan Alliance’s 11 hospitals and health facilities in Indiana as the health system responds to the transformative shift in hospital economics. Officials said 275 employees or 1.4 percent of the workforce will be laid off as a result of the reduction. Franciscan Alliance has approximately 20,000 employees.

Officials said the healthcare industry is changing rapidly and economic pressures are forcing substantive changes in the field, including reduced reimbursements, new payer models, healthcare reform laws and shifts from inpatient to outpatient care.

“Franciscan Alliance has not been immune to such pressures and has found it necessary to align staffing levels to reflect lower patient volumes and reduced industry-wide reimbursements brought on by reforms associated with the Affordable Care Act,” stated Kevin Leahy, Franciscan Alliance president and CEO. “Recent trends and the new law are challenging healthcare providers to manage the continuum of care for patients more efficiently and effectively to ensure the same quality outcomes at reduced reimbursement levels.”

Like other health systems, Franciscan Alliance must cut its costs of care delivery over the next three years by 15 to 20 percent ($375 to $500 million) to remain viable. In addition to the 275 job cuts, another 650 full-time equivalent positions will be eliminated by cutting back on assigned hours, closing open positions, retirements and through attrition.

Leahy said the remaining 19,000 employees will see cutbacks in benefits in 2014. These cutbacks include the elimination of the 1.5 percent employer match to the 403b retirement savings program, elimination of the PTO buy-back program, higher employee contributions for healthcare insurance, no salary increases for management, and a new defined benefit/defined contribution pension for all co-workers not vested by Jan. 1 in the defined benefit pension plan. Officials said the cost savings from these, and other recent pay practice changes, will help preserve hundreds of other jobs which otherwise would have to be eliminated.

“We are profoundly aware of the impact our decisions have on the lives of our co-workers and their families,” Leahy stated. “Those whose jobs will be affected by the workforce reduction will be provided with severance, extended health insurance where eligible, and outplacement assistance.”


Current Morning Briefing Logo

Stay CURRENT with our daily newsletter (M-F) and breaking news alerts delivered to your inbox for free!

Select list(s) to subscribe to



By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact
Share.

Current Morning Briefing Logo

Stay CURRENT with our daily newsletter (M-F) and breaking news alerts delivered to your inbox for free!

Select list(s) to subscribe to



By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Franciscan Alliance announces staff reduction

0

System-wide staff reductions will affect Franciscan Alliance’s 11 hospitals and health facilities in Indiana as the health system responds to the transformative shift in hospital economics. Officials said 275 employees or 1.4 percent of the workforce will be laid off as a result of the reduction. Franciscan Alliance has approximately 20,000 employees.

Officials said the healthcare industry is changing rapidly and economic pressures are forcing substantive changes in the field, including reduced reimbursements, new payer models, healthcare reform laws and shifts from inpatient to outpatient care.

“Franciscan Alliance has not been immune to such pressures and has found it necessary to align staffing levels to reflect lower patient volumes and reduced industry-wide reimbursements brought on by reforms associated with the Affordable Care Act,” stated Kevin Leahy, Franciscan Alliance president and CEO. “Recent trends and the new law are challenging healthcare providers to manage the continuum of care for patients more efficiently and effectively to ensure the same quality outcomes at reduced reimbursement levels.”

Like other health systems, Franciscan Alliance must cut its costs of care delivery over the next three years by 15 to 20 percent ($375 to $500 million) to remain viable. In addition to the 275 job cuts, another 650 full-time equivalent positions will be eliminated by cutting back on assigned hours, closing open positions, retirements and through attrition.

Leahy said the remaining 19,000 employees will see cutbacks in benefits in 2014. These cutbacks include the elimination of the 1.5 percent employer match to the 403b retirement savings program, elimination of the PTO buy-back program, higher employee contributions for healthcare insurance, no salary increases for management, and a new defined benefit/defined contribution pension for all co-workers not vested by Jan. 1 in the defined benefit pension plan. Officials said the cost savings from these, and other recent pay practice changes, will help preserve hundreds of other jobs which otherwise would have to be eliminated.

“We are profoundly aware of the impact our decisions have on the lives of our co-workers and their families,” Leahy stated. “Those whose jobs will be affected by the workforce reduction will be provided with severance, extended health insurance where eligible, and outplacement assistance.”


Current Morning Briefing Logo

Stay CURRENT with our daily newsletter (M-F) and breaking news alerts delivered to your inbox for free!

Select list(s) to subscribe to



By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact
Share.

Current Morning Briefing Logo

Stay CURRENT with our daily newsletter (M-F) and breaking news alerts delivered to your inbox for free!

Select list(s) to subscribe to



By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact