Edward-Elmhurst to slash $35M from budget

Naperville, Ill.-based Edward-Elmhurst Health will cut $35 million from its upcoming budget, interim CFO Jeff Friant said on a call Feb. 23 with investors, according to the Chicago Tribune.

Although the call with investors was to explain a recently disclosed $92 million accounting error, an Edward-Elmhurst spokesperson said the budget cuts were unrelated to the accounting misstep.

The cuts come after the health system announced a $50 million cost-cutting plan in 2017. Mr. Friant told investors Edward-Elmhurst is on target to achieve the $50 million in cost savings, according to the report.

More articles on healthcare finance:

Missouri hospital files for bankruptcy: 4 things to know
5 hospitals with strong finances
LifePoint slips to $27.5M net loss in Q4

Copyright © 2024 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.

 

Featured Whitepapers

Featured Webinars