No pay raises for UCHealth employees amid COVID-19 losses

Aurora, Colo.-based UCHealth will not give raises to employees this year amid financial losses due to the COVID-19 pandemic, according to The Denver Post.

Employees typically receive an annual raise that is reflected in their December paychecks, but lost revenue caused by the pandemic has forced the health system to eliminate raises this year, health system spokesperson Dan Weaver told the newspaper.

Mr. Weaver estimated UCHealth lost $176 million in revenue in March and April, when the health system, like many hospitals across the country, canceled or postponed nonemergency procedures.

Hospitals nationwide have furloughed, laid off or cut pay for workers, citing the financial fallout from COVID-19. UCHealth and other healthcare organizations have received some federal relief aid from the government, but it has not been enough to offset lost revenue and higher expenses the health system is incurring, Mr. Weaver told the Post.

Although UCHealth is not offering employees raises this year, eligible workers may still receive an annual bonus, which is calculated based on patient quality/safety scores, patient experience, number of patients served during the year, financial results, and employees meeting individual goals, Mr. Weaver said. 

Eliminating raises is part of the health system's overall expense reduction initiative.

It also is requiring many employees to take eight days of paid time off this summer. The eight-day requirement affects full-time salaried employees who have regular, set schedules. Part-time employees will be required to take less than eight PTO days.

UCHealth has 25,000 total employees.

 

More articles on compensation:
Physician compensation grew most for these 5 specialties
ThedaCare execs take pay cuts to offset COVID-19 losses
UHS execs take pay cuts to support employee assistance fund

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