by increases in government and private insurance payments.
Tower, a nonprofit that also owns Reading, Phoenixville, and Pottstown Hospitals, employs 12,000 people.Stern, who joined Tower Health in September, said the cuts are expect to trim $12 million a year from costs at Tower, a system with $2 billion in annual revenue which has lost large amounts of money in recent years.
Even financially strong hospital operators like the nonprofit University of Pennsylvania Health System are cutting jobs to keep ahead of financial pressures.
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If you’re in the healthcare biz, and layoff people, you’re doing it wrong.
Still would love to understand how a pandemic caused the healthcare industry to struggle.