OU Health halts 401(k) contributions, adjusts paid time off

Oklahoma City-based OU Health is stopping its contributions to employee retirement plans and adjusting paid vacation allowances in a bid to cut costs, management told investors March 29.

Advertisement

While full details were not disclosed on the call, the measure is designed to be short-term, management said, describing the moves as a “challenging decision.”

“It is thus far not a substantive negative on our ability to recruit,” said Jonathan Curtright, COO of OU Health. “It’s a short-term solution only; we will turn this back on very quickly.”

Meanwhile, the system is showing signs of reducing reliance on contract labor and seeking partnerships with other Oklahoma health systems, particularly in the areas of cancer and infusion services.

“We remain market leaders in the area of compensation,” Mr. Curtright added.

Advertisement

Next Up in Financial Management

  • From naming its first COO to opening a new hospital in Florida, here are eight things to know about Dallas-based…

  • CMS Administrator Mehmet Oz, MD, has moved quickly to advance President Donald Trump’s “Make America Healthy Again” agenda in 2025.…

Advertisement

Comments are closed.