University Hospitals announced they are laying off more than 100 employees and eliminating over 300 unfilled administrative jobs due to an economic downturn that has the hospital experiencing a net operating loss of $184.6 million in the first eight months of 2022.
University Hospitals, as well as a large number of other hospitals in the region and across the nation, is facing an economic downturn that began with a resurgence of COVID-19 cases earlier this year and has been compounded by several other factors, such as supply chain issues, record-high inflation, and an unprecedented workforce shortage. These have made 2022 one of the most financially difficult years for health systems in the U.S.
This involves reimagining how we deliver care at a lower cost while also working to ensure UH delivers high-quality care with compassion and remains a great place to work. In the near term, we have a responsibility to reduce expenses by curtailing certain administrative costs and services in order to safeguard our investments in direct patient care.
We reassure patients and the community that no employees delivering care are affected, and the quality of care will continue to meet our high standards.Although these actions are difficult, they will make UH stronger now and for decades to come in our continuing service to the community. In June, the iconic Eliza Bryant Nursing Home closed primarily due to financial reason after 126 years in business.
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