Tuesday, September 1, 2015

1 in 5 hospitals plan 'permanent' job cuts this year: report

"Over 80% believe that layoffs and staff reductions are most effective in dealing with the current economic crisis"

1 in 5 hospitals plan 'permanent' job cuts this year: report

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"Nineteen percent of hospital CFOs projected permanent worker layoffs during the coming year," says Penn State's Workforce and Education Development Initiative, citing a survey by HCPro's HealthLeaders Media, Marblehead, Mass., which says it surveyed 1,200 US hospital executives. Read survey results here. Excerpts:

"Over 80% believed that layoffs and staff reductions are most effective in dealing with the current economic crisis. The CFOs rated labor costs as the second-ranked driver of health care costs behind government laws and mandates."

The Penn State group laid out how important hospitals are to PA employment: "Hospitals employed 272,553 workers in 340 Pennsylvania facilities during 2008," or about 5% of the US hospital workforce of 5.5 million. (The state is home to about 4% of the total US population, but a lot of them are old...) "Employment in Pennsylvania hospitals grew by 15,059 workers between 2004 and 2008. "

"Average annual earnings per worker in the industry were $57,361 in 2008, although earnings differed significantly by occupation... On average:
- 5,166 hospital physicians earned $64.03 per hour worked...
- 73,862 registered nurses earned $28.69 per hour
- 2,859 medical assistants earned $12.94 per hour.
- 15,956 workers... earned $9.86 per hour or less, which is the poverty wage for households composed of two adults and two children in Pennsylvania ... 
- Dining room workers, dining room and cafeteria attendants, child care workers, and waiters and waitresses earned less than $8.00 per hour, which is considered the living wage for a one–adult household in Pennsylvania."
 

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About this blog

PhillyDeals posts drafts, transcripts and updates of Joseph N. DiStefano's columns and stories about Philly-area business, which he's been writing since 1989.

DiStefano studied economics, history and a little engineering at Penn and taught writing at St. Joseph's. He has written thousands of columns and articles for the Inquirer, Bloomberg and other media, wrote the book Comcasted, and raised six children with his wife, who is a saint.

Reach Joseph N. at JoeD@phillynews.com, distefano251@gmail.com, 215.854.5194 or 302.652.2004.

Reach Joseph N. at JoeD@phillynews.com or 215 854 5194.

Joseph N. DiStefano
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