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.
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.
