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Thu July 17, 2014
Jennie Stuart Medical Center to Eliminate Jobs
Hopkinsville’s Jennie Stuart Medical Center will eliminate 70 job positions through an accelerated retirement program and layoffs.
The medical center cites a number of factors for the layoffs including federal cuts, declining Medicare reimbursement, the complexity of the Medicaid system, and a changing commercial insurance marketplace that is placing more financial burden on its consumers.
A drop in revenue led to previous and successful attempts at cost-control, but the center says it must do more to mitigate losses. The hospital is taking aggressive steps to manage monthly operating expenses, tightening travel and marketing budgets, reducing supply costs, and renegotiating vendor contracts.
The medical center said in a release that eliminating even one employee's job is difficult, but it must take steps to remain a competitive healthcare provider for the region. Though it is working to reduce expenses, the Hopkinsville center says its financial position is solid and it will continue to make long-term investments in its core service lines.