In Wake Forest Baptist’s last fiscal year, the hospital had an operational loss of $55.1 million, due in part to the rollout of its electronic health records system, according to the report. The hospital is also responding to lower Medicare payments and other revenue decreases.
“Despite achieving significant efficiencies in the last two years, the medical center feels the institution’s financial stability is best served by not implementing a 1.5 percent merit increase for employees,” the hospital told the Winston-Salem Journal.
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