Chicago Hospital Plans New Facility Despite Cutting 7 Percent of Budget

Although the University of Chicago Medical Center has enacted a massive restructuring that will cut $100 million in expenses, it still plans on expanding, according to the Chicago Tribune.

Advertisement

The healthcare facility has eliminated 15 senior executive positions and may make additional job cuts, according to the report, but these cost-saving measures will not affect its plans to open a new $700 million hospital pavilion in 2012

In addition to the layoffs, the organization is working to reduce costs by finding ways to consolidate and eliminate inefficiencies and duplication in its facilities.

Read the Chicago Tribune’s report on the University of Chicago Medical Center’s restructuring.

At Becker's 4th Annual CEO + CFO Roundtable, taking place November 2–5 in Chicago, more than 1,500 hospital and health system executives tackle decisions that determine whether organizations thrive or merely survive: protecting margins under cost pressure, choosing where to grow, renegotiating payer relationships, stabilizing the workforce and proving real ROI on technology. This is where leaders work through them together, face-to-face. Apply for complimentary registration now.

Advertisement

Next Up in Leadership & Management

  • Baylor College of Medicine and Texas Children’s Hospital established an affiliation more than 70 years ago in the Texas Medical…

  • Fitch revised Ontario, Calif.-based Prime Healthcare Services’ outlook to positive and affirms its “B” rating.  The revised outlook reflects Fitch’s…

  • Brentwood, Tenn.-based Lifepoint Health, a health system owned by private equity firm Apollo Global Management, has largely grown over the…

Advertisement

Comments are closed.