Becker's Hospital Review

23 Financial Management T he following hospital and health systems shared plans for or implemented layoffs affecting 100 or more employees in the first six months of 2015. They are listed below from most jobs affected to least. 1. Doctors Medical Center in San Pablo, Ca- lif., closed in April after dealing with a financial crisis for the last several years. The hospital em- ployed about 300 people. 2. Spaulding Rehabilitation Network, part of Boston-based Partners HealthCare System, announced plans to close Spaulding Hospital for Continuing Medical Care North Shore in Salem, Mass., by the end of September 2015. Partners Continuing Care cited financial troubles as a rea- son for the closure. About 300 positions will be affected. 3. Following the collapse of its proposed sale of six hospitals to Ontario, Calif.-based Prime Healthcare Services, Los Altos Hills, Calif.- based Daughters of Charity Health Sys- tem cut 4 percent of its workforce, amounting to about 280 jobs. The affected positions included management and support jobs. 4. Houston-based Harris Health System laid off 113 employees and left 149 open positions unfilled in January. Health system representatives cited an expected budget shortfall of $72 million for the fiscal year that began March 1, partially attributed to the state's decision not to expand Medicaid, as reason for the layoffs. 5. Select Specialty Hospital-Houston Heights plans to close on or within 14 days of July 3, resulting in 222 layoffs. Although few de- tails have been released, a hospital spokeswoman attributed the closure to "business reasons." 6. Seventy-two workers were laid off at St. James Mercy Hospital in Hornell, N.Y., as part of a transition effort aimed at improving the hospital's finances, effective May 1. St. James Mercy transitioned from a Livonia, Mich.-based Trinity Health ministry to "Independent SJMH," during which 581 employees — including 96 per diem employees — received a 90-day Worker Ad- justment and Retraining Notification Act notice that their St. James Mercy employment would end April 30. 7. Burlington, Mass.-based Lahey Health will lay off 130 people at three hospitals as part of an effort to cut costs. The layoffs represent about 1 percent of Lahey's workforce and include manag- ers, clinicians and administrative staff. The deci- sion was made after the system reported it lost $21 million during the six months that ended March 31. In addition to the layoffs, eight Lahey ex- ecutives, including CEO Howard Grant, JD, MD, agreed to take 10 percent pay cuts for the remain- der of the year. 8. Waterbury (Conn.) Hospital shared plans in January to eliminate 80 full-time equivalent positions from its workforce, with the reduction affecting approximately 100 full- and part-time workers. Waterbury Hospital made the cuts weeks after its planned acquisition by Dallas-based Te- net Healthcare fell through. n 8 Hospital, Health System Layoffs Affecting 100+ Employees By Tamara Rosin, Molly Gamble and Kelly Gooch CEAA CERTIFIED EQUIPMENT APPRAISAL ASSOCIATES, INC. Call us at (215) 260-2680 for a FREE consultation. For more information, visit us on the web at www.ceaahealthcare.com or email us at ceaahealthcare@aol.com CEAA CERTIFIED EQUIPMENT APPRAISAL ASSOCIATES, INC. Certifi ed Equipment Appraisal Associates, Inc. is a leading nationwide medical equipment appraisal fi rm offering comprehensive medical equipment appraisals for the healthcare industry. We have conducted over 2,000 Healthcare Equipment Appraisal Assignments in all 50 states. We can appraise a single unit of medical equipment to fully equipped private practices, clinics, imaging centers and entire hospitals. On-Site & Desktop Equipment Appraisals for: When Compliance Matters, Get Certifi ed. • Purchase price allocation • Hospital and physician practice valuations • All healthcare equipment types • Stark Law, SBA, FASB & IRS compliance • Lease negotiations • Partnership buyouts • Litigation and expert witness • Asset inventory • Sale of assets • Cost segregation • Financing

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