Under the plan, CHA will cut staff, hours, spending, travel and capital expenditures. The organization also intends to implement a hiring freeze, closing clinics and delaying raises and annual bonuses. Over the next 12 months, CHA plans to reduce its number of full-time employees by 8 percent, according to the news release.
Despite the significant changes, CHA will continue to operate its three area hospital campuses.
Aspects of the reconfiguration process are expected to continue into 2010.
Read the news release about the Cambridge Health Alliance reorganization (pdf).
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.