Health News
- Kentuckyone Health Announces Layoffs, But Not How Many
Major hospital operator KentuckyOne Health says it is laying off workers, but isn't saying how many. "The many steps we have taken so far across KentuckyOne Health to reduce our expenses to match our revenue have not been enough," the company...
- St. Joseph Hospitals Lay Off 40 Employees In Lexington
KentuckyOne Health announced Wednesday it would be laying off 40 employees at its St. Joseph Hospital and St. Joseph East locations in Lexington, Scott Sloan of the Herald-Leader reports. The move comes less than a year after 36 employees were laid...
- University Of Louisville Delays Choosing Hospital Partner
To allow time for more "discussions and negotiations," the University of Louisville has put off deciding on University Hospital's new health-care partner until the end of June. It is not known how many entities are interested in partnering with the...
- Same Catholic Health System Considering University Hospital's Request For Proposals
Though Gov. Steve Beshear twice rejected a proposal that would have merged it with a Catholic health system, University Hospital's expected release of a request for proposals is drawing attention from the same Catholic health system, reports Laura...
- Louisville Hospital Merger Would Be Just One Of Dozens Across The Country, Driven By Economic And Regulatory Concerns
Hospitals are banding together to create organizations better able to withstand the changing tides of the economy and health-care policy. The proposed merger of Louisville's Jewish Hospital & St. Mary's HealthCare, Lexington-based Saint Joseph...
Health News
KentuckyOne Health lays off 500 of 15,000 employees, says it won't fill 200 vacancies; cites Obamacare and merger
KentuckyOne Health, which dominates the Louisville hospital market and has scores of locations across the state, says it has laid off 500 of its 15,000 employees and identified 200 vacancies that it won't fill, as it adjusts to federal health reform and the mergers that created it.
The company says it is trying to eliminate $218 million in expenses by the middle of 2015. It is part of Denver-based Catholic Health Initiatives, and its CHI region "had the largest operating loss in the fiscal year that ended in June 2013, according to an October report by Standard & Poors, one of the firms that rates CHI's creditworthiness for investors who buy its debt," Chris Otts reported for WDRB.
KentuckyOne officials declined to give the number of layoffs by location. CEO Ruth Brinkley "attributed the changes in her company largely to a trend away from sick care, which revolves around hospitals, to a greater focus on wellness and disease prevention," Laura Ungar reports for The Courier-Journal. "She said this trend preceded the Affordable Care Act, but it was reinforced by the federal law. She also said hospitals are facing declining reimbursements from Medicare and Medicaid, and a payment model built around keeping people well rather than providing incentives for more hospitalizations and procedures. . .. . Brinkley also cited staffing and other changes prompted by the merging of hospitals that created KentuckyOne. She said mergers always bring redundancies in services and staffing, often leading to consolidations."
The company was formed in 2012 by the merger of the Lexington-based St. Joseph Health System and Jewish Hospital & St. Mary?s HealthCare of Louisville. The University of Louisville hospital was supposed to be part of the merger, but Gov. Steve Beshear blocked it on grounds that religious organizations should not control public facilities. A deal was negotiated, "turning over management of most of the hospital to KentuckyOne while keeping the facilities under public control," Ungar reports. "Brinkley said despite financial difficulties, KentuckyOne will continue to meet its financial and legal obligations to U of L Hospital."
The company says it is trying to eliminate $218 million in expenses by the middle of 2015. It is part of Denver-based Catholic Health Initiatives, and its CHI region "had the largest operating loss in the fiscal year that ended in June 2013, according to an October report by Standard & Poors, one of the firms that rates CHI's creditworthiness for investors who buy its debt," Chris Otts reported for WDRB.
KentuckyOne officials declined to give the number of layoffs by location. CEO Ruth Brinkley "attributed the changes in her company largely to a trend away from sick care, which revolves around hospitals, to a greater focus on wellness and disease prevention," Laura Ungar reports for The Courier-Journal. "She said this trend preceded the Affordable Care Act, but it was reinforced by the federal law. She also said hospitals are facing declining reimbursements from Medicare and Medicaid, and a payment model built around keeping people well rather than providing incentives for more hospitalizations and procedures. . .. . Brinkley also cited staffing and other changes prompted by the merging of hospitals that created KentuckyOne. She said mergers always bring redundancies in services and staffing, often leading to consolidations."
The company was formed in 2012 by the merger of the Lexington-based St. Joseph Health System and Jewish Hospital & St. Mary?s HealthCare of Louisville. The University of Louisville hospital was supposed to be part of the merger, but Gov. Steve Beshear blocked it on grounds that religious organizations should not control public facilities. A deal was negotiated, "turning over management of most of the hospital to KentuckyOne while keeping the facilities under public control," Ungar reports. "Brinkley said despite financial difficulties, KentuckyOne will continue to meet its financial and legal obligations to U of L Hospital."
- Kentuckyone Health Announces Layoffs, But Not How Many
Major hospital operator KentuckyOne Health says it is laying off workers, but isn't saying how many. "The many steps we have taken so far across KentuckyOne Health to reduce our expenses to match our revenue have not been enough," the company...
- St. Joseph Hospitals Lay Off 40 Employees In Lexington
KentuckyOne Health announced Wednesday it would be laying off 40 employees at its St. Joseph Hospital and St. Joseph East locations in Lexington, Scott Sloan of the Herald-Leader reports. The move comes less than a year after 36 employees were laid...
- University Of Louisville Delays Choosing Hospital Partner
To allow time for more "discussions and negotiations," the University of Louisville has put off deciding on University Hospital's new health-care partner until the end of June. It is not known how many entities are interested in partnering with the...
- Same Catholic Health System Considering University Hospital's Request For Proposals
Though Gov. Steve Beshear twice rejected a proposal that would have merged it with a Catholic health system, University Hospital's expected release of a request for proposals is drawing attention from the same Catholic health system, reports Laura...
- Louisville Hospital Merger Would Be Just One Of Dozens Across The Country, Driven By Economic And Regulatory Concerns
Hospitals are banding together to create organizations better able to withstand the changing tides of the economy and health-care policy. The proposed merger of Louisville's Jewish Hospital & St. Mary's HealthCare, Lexington-based Saint Joseph...