CHC is suffering financially from a combination of factors — its charity care expenses have already increased $7 million more than it expected for the year, the organization is paying much higher interest rates on bonds due to market changes and less patients, in general, are seeking care.
The expense management plan, which is outlined in CHC’s press release, includes a targeted hiring freeze, reduces the pay of salaried and requires non-exempt employees to take one day off each month.
Read the press release about the Cascade Healthcare Community expense management plan.
