Citing declining federal reimbursements and the rising cost of delivering care, Fayetteville, N.C.-based Cape Fear Valley Health is eliminating about 200 positions, including 138 of which are currently filled.
The workforce reductions come after extensive efforts to implement other cost-saving measures, but rising costs, federal funding cuts and uncertainty about the future reimbursement landscape “have necessitated these decisions,” the health system said in a July 1 news release shared with Becker’s.
“These are difficult decisions, and they are never made lightly,” Cape Fear CEO Dan Weatherly said in the release. “They impact colleagues who have contributed so much to our patients and to our mission. However, these decisions reflect the challenging environment facing healthcare organizations across the country.”
The system said it is supporting affected employees through career transition assistance, including priority placement in other roles within the organization and separation packages for eligible employees.
Cape Fear employs more than 9,000 people, according to the release.
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