Posted on 04/04/2020 6:36:54 AM PDT by DoodleDawg
Emergency room doctors and nurses many of whom are dealing with an onslaught of coronavirus patients and shortages of protective equipment — are now finding out that their compensation is getting cut.
Most ER providers in the US work for staffing companies that have contracts with hospitals. Those staffing companies are losing revenue as hospitals postpone elective procedures and non-coronavirus patients avoid emergency rooms. Health insurers are processing claims more slowly as they adapt to a remote workforce.
"Despite the risks our providers are facing, and the great work being done by our teams, the economic challenges brought forth by COVID-19 have not spared our industry," Steve Holtzclaw, the CEO of Alteon Health, one of the largest staffing companies, wrote in a memo to employees on Monday.
The memo announced that the company would be reducing hours for clinicians, cutting pay for administrative employees by 20%, and suspending 401(k) matches, bonuses, and paid time off. Holtzclaw indicated that the measures were temporary but didn't know how long they would last.
(Excerpt) Read more at businessinsider.com ...
Bet he didn’t cut the pay of administration or his pay.
Most systems are doing this. Hospital admissions and. Linux visits are way down. Also, no elective procedures, which is THE money maker of the healthcare system.
This will bankrupt and decimate hospitals and clinics. Most places are not part of the surge.
Clinic not linux
My wife’s system is starting the furloughs in the next week.
Generally speaking...if you are not clinical, your job is on the block.
There are 35 people in the surgical scheduling department. No surgeries being scheduled. Ouch.
I’ll be glad when things settle down. I need a little knee work.
I heard that Halifax health in Daytona laid off 500 employees. I don’t see it on the news yet so they might be furloughed.
Furloughing is what most are doing. That way they can get unemployment and keep benefits.
I wouldn’t be surprised if a lot of laid-off or furloughed workers look for greener pastures elsewhere; in the NYC metro area, it is simply too expensive to stay here without a decent income.
I doubt there will be greener pastures. If I still worked at the health system I would be using this opportunity to consolidate and maximize technology. That’s about 35% of my existing staff at the time.
I don’t think the administration has enough sense to do that now.
I need 2 surgeries, 1 can wait the other is getting to the point of need. You are NOT getting me near the nasty hospitals in Memphis. No pain meds either.
Bet you're right. The story mentions that they're owned by private equity investors. I'll bet their cut isn't reduced either.
Agreed. Too often CEOs find a way to increase their compensation and bennies while cutting or outsourcing jobs and everyone elses. The compensation of the club of those in power has gotten way out of whack, and it hasnt necessarily created a better USA.
I’ve come to support the need to find incentives to readjust CEO compensation in public companies to an historic ratio to average employee compensation. The definition of abuse of power changes in society.
Where did this go?
$400 million for First Responder Grants.
My uncle had hernia surgery a few weeks ago.
He refused to go under but instead was awake with a local.
Better than me.
This Corona was the dream come true for the left. It is their miracle and our nightmare.
That post was for you, too.
I don’t even mean just the healthcare sector; this situation is ruining businesses in some areas, and may be the straw that breaks the camel’s back in terms of people already thinking of leaving.
I wouldn’t be surprised if the exodus of businesses and working Americans from the NYC metro area accelerates after this; it was already underway.
Gosh, I don’t want them here!
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