The University of Iowa Hospitals said in the report that 137 of the job cuts would be from layoffs and the rest would be cut from attrition.
Earlier this year, the hospital system projected a $5 million loss for the fiscal year that ended June 30 [http://hospitalreviewmagazine.com/news-and-analysis/business-and-financial/university-of-iowa-hospitals-expect-5m-loss-this-year.html]. Officials then said earlier this summer that they needed to cut $45 million so the hospital system could maintain a 1 percent profit margin for FY 2009, according to the report.
According to the hospital system, the government and insurers haven’t been sending reimbursements promptly, which has added to the need to cut $23 million in FY 2009, including $4.3 million in voluntary employee pay cuts.
Read WQAD’s report about University of Iowa Hospitals job cuts.
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