St. Vincent Health Announces Cuts and Cites Obamacare
St. Vincent Health is announcing a major restructuring of its workforce.
St. Vincent Health Spokesman Johnny Smith says the restructuring is due to lower budget volumes and a decrease in reimbursements resulting mainly from the Affordable Care Act commonly called Obamacare. Smith says cuts will happen before June 30th and will be across St. Vincent's 22 hospital system.
St. Vincent has 18,000 employees statewide. The organization is 132 years old. St. Vincent Health CEO Vince Caponi also cites a mandated reduction in payments. Caponi says their thoughts and prayers are with employees and their families during the process.