2 Mercy execs retire early to help address financial fallout

Two Mercy executives have volunteered to retire early to help the St. Louis-based health system navigate financial challenges caused by the COVID-19 pandemic, according to the Springfield News-Leader

Fred McQueary, MD, executive vice president and chief clinical officer at Mercy, and Jon Swope, senior vice president and regional president of central communities, will both retire at the end of June. 

The two executives "volunteered to begin their well-deserved retirement earlier than planned to help Mercy navigate the difficult financial terrain ahead," according to a press statement. 

Dr. McQueary has been with Mercy since 1993, serving in various leadership roles and practicing as an orthopedic surgeon. Mr. Swope has been with Mercy since 1980. 

"These leaders have served Mercy well over so many years," Mercy President and CEO Lynn Britton told the Springfield News-Leader. "Our ministry is richer for their service and their sacrificial leadership at a crucial time."

The executive retirements come after Mercy announced earlier this month that it is taking several steps to address expected financial damage from the COVID-19 pandemic. Those measures include furloughs and eliminating positions at every level, according to the Springfield News-Leader

More articles on healthcare finance:
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15 hospitals have closed this year — here's why
Mayo Clinic's operating income drops 88% in Q1

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