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.

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.

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