In an emailed statement to Becker’s Hospital Review, the health system attributed the cuts to an everchanging healthcare climate, both at the regional and national level.
“Stanford Health Care has had a decade of strong financial performance and a period of significant growth over the past five years,” SHC President and CEO David Entwistle said in the statement. “We have been investing to meet the increasing healthcare needs of our community, to advance human health and to support our vital mission as a leading academic medical center. To continue this progress requires that we operate in a fiscally responsible manner.” He added: “We highly value all members of our dedicated staff and regret that reducing expenses is necessary.”
Moving forward, the health system anticipates construction on the new Stanford (Calif.) Hospital to reach completion in 2018, and a new Stanford Health Care outpatient center to open in Emeryville, Calif., March 16. Additionally, SHC said it will continue to partner with community physicians, Silicon Valley companies and others “to provide the innovative, high-quality care, patient experience and service for which Stanford Health Care is recognized worldwide.”
More articles on leadership:
How the AHCA would affect addiction treatment
10 things to know about Valley Children’s Healthcare
Barry Brown, longtime South Jersey hospital exec, dies at 83
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.