INDIANAPOLIS — St. Vincent Health officials have announced a restructuring in its workforce that will result in job losses.
A St. Vincent news release reports the restructuring is “because of changes in the healthcare industry, which have put providers across the country under increasing economic and competitive pressure.” The restructuring will result in a reduction of employed and contracted associates across the 22-hospital system.
The process will take place before June 30.
St. Vincent did not provide a breakdown of how many jobs would be cut at individual hospital facilities. St. Vincent’s properties include hospitals in Bedford and Salem.
The faith-based health system is continuing to address the challenges of lower than budgeted volumes, decreasing reimbursement, and the Affordable Care Act’s mandated reduction in payments.
“As we value each individual’s commitment and dedication to the mission of St. Vincent Health, our thoughts and prayers are with all associates and their families during this time,” said Vincent C. Caponi, chief executive officer of St. Vincent Health.
“We understand that other health systems are facing similar challenges and making difficult decisions as well. To sustain our health system’s service to patients and families across the state, we must re-imagine the way we provide holistic care — body, mind and spirit.”
St. Vincent Health and individual hospital leadership reviewed and continue to evaluate an array of costs throughout the system to ensure alignment with the needs of the communities it serves. Through long-term planning and discernment, the 132-year-old health organization is taking the necessary steps to sustain its viability for patients and families and the state of Indiana.