Ohio Hospitals Feel Financial Pinch

A couple of days ago, PRN Funding blogged about the effects of the economy on America’s hospitals. Not surprisingly, the economy is affecting the health care systems and hospitals local to home–Right here, in Cleveland, OH, the Cleveland Clinic, University Hospitals, MetroHealth Medical Center and the Sisters of Charity Health System are all facing tough financial decisions.

According to an article on Cleveland.com, the Cleveland Clinic “cut spending on construction, travel and consultants. It also instituted a hiring and pay freeze late last year,” while University Hospitals continues to monitor the economy and keep the possibility of future layoffs on the table.

Meanwhile, MetroHealth Medical Center and Sisters of Charity Health System are annoucning job cuts. The Ohio Hospital Association reported that 1/3 of Ohio’s hospitals plan layoffs in the next six months.

Some blame the region’s unemployment, which was 9.3% in February, as the biggest challenge to the state’s hospitals. “Fewer people are opting for elective procedures as household budgets tighten. And rising unemployment means fewer people who are insured and able to pay their health bills,” the article said.

Click here to read the entire article: Cleveland Hospitals Feel Financial Pinch.