Mississippi's only academic medical center cuts 195 jobs to shore up finances
University of Mississippi Medical Center, a five-hospital academic medical center based in Jackson, has cut 195 jobs and eliminated an additional 85 open positions, according to the Sun Herald.
The cuts are part of a financial turnaround plan aimed at addressing a $32.7 million revenue shortfall. UMMC expects to achieve $24 million in savings by June 30, the end of the fiscal year, through its financial action plan, according to the report.
"Unfortunately, it is not possible to reach savings of this magnitude without reductions in staffing," LouAnn Woodward, MD, vice chancellor for health affairs and dean of the School of Medicine, told the Sun Herald.
She told WCBI the job cuts affect employees across all facets of the organization.
The $24 million in savings will help UMMC address its fiscal troubles, but the hospital will continue to implement changes to overcome its financial challenges.
"We expect these pressures on our revenues to continue, so our emphasis on efficiency, growing revenues and finding new ways to provide the same or better services at reduced cost will continue through fiscal year 2018," Dr. Woodward told WCBI.
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