Approximately 75 employees were laid off at value-based care solutions provider Valence Health last week, reports Crain's Chicago Business.
The layoffs affected employees across the company, though half of the jobs cut were in Chicago, where the company is headquartered.
The majority of the layoffs were among employees in claims processing, medical management, IT and development, according to the report.
Kevin Weinstein, Valence's chief growth officer, told Crain's Chicago Business the job cuts are an attempt to balance business, adding 10 employees joined the company last week. He also Valence did not outsource any jobs to other countries. "This is more about balancing the business out than anything else," he said in the report.
Additionally, Mr. Weisntein said Valence is still growing, and the company projects 2016 sales to reach $140 million, a 44 percent increase over 2015's $97 million, according to the report.
In addition to the cut jobs, Nathan Gunn, MD, Valence's president of population health, left the company. Mr. Weinstein told Crain's Chicago Business he did not know why Dr. Gunn left.
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