Phoebe cuts bonuses and more after not meeting budget
Tue, 17 Sep 2013 20:22:05 GMT —
Due to financial struggles, Phoebe Putney Memorial Hospital will be unable to offer their employees bonuses or merit increases for the first time in years.
PPMH President and CEO Joel Wernick says expenses were greater than what the hospital brought in and the number of patients who received care fell below the projected number. As well as not meeting budget, hospital officials say the sequestration and Affordable Care Act also played a part in the loss of revenue.
The cost for the Phoebe Employee Health Plan were more than $15 million over budget and the cost of charity and indigent care for those who were unable to pay medical costs were $20 million more than expected.
As a result, Wernick says the hospital's relentless focus this new fiscal year will be on expense reduction that will still enable the hospital to grow and improve services.
Wernick and his team are currently working on ways to reduce costs while increasing revenue to ensure the hospital meets their budget this fiscal year.
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