Share This

Google+ Badge


Those Who Deceive Must Be Revealed!




Monday, July 8, 2013

Indiana Hospital Chain Fires 865 Employees Because of Obamacare

Vision To America
July 8, 2013

J.K.Wall reports for Independent Business Journal, June 28, 2013, that St. Vincent Health — the second-largest hospital system and the 6th-largest employer in Indiana, with 22 hospitals employing about 17,300 people — 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 hospitals’ 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.
All hospitals are trying to cut expenses drastically, by as much as 25%, in order to prepare for a future they expect to be far more austere than the past. With personnel typically accounting for 60% of hospital expenses, staff reductions are an inevitable part of that process.