Officials at Lawrence & Memorial Hospital in New London said Thursday the company will be cutting 22 jobs, with 14 of those positions being full time, to help close a $3.2 million gap in the current fiscal year budget.
In a statement from the hospital, Director of Public Relations Michael O'Farrell said "a variety of factors led to the current budget shortfall" including the following items:
Softened inpatient volumes
Pressure from payors to cut costs
Necessary investments in information technology
Rising costs of employee benefits
With positions being cut, O'Farrell said the hospital started by eliminating vacant positions, natural attrition and other "operational cost-saving measures" as ways of reducing the shortfall.
No hospital services were cut and the hospital is planning to focus on bettering the following areas of service:
Average length of stay
Supplies (both medical and non-medical)
"Given the overall uncertainty of the health care environment, the hospital continues to work on improving overall cost management," the statement said.
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Wednesday, August 27 2014 11:01 PM EDT2014-08-28 03:01:35 GMT
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