ProMedica, of Toledo, has offered buyouts to 1,200 of its employees at its 11 medical facilities, including Defiance Regional Hospital, Toledo Hospital, Flower Hospital, Sylvania, and St. Luke’s Hospital.
ProMedica says the voluntary buyout is only being offered to ProMedica employees who fit the “80” formula.
That means an employee who is 55 years old and has been with ProMedica for 25 years would fit that criteria, as would an employee who is 60 years old and has been with ProMedica for 20 years.“
Reportedly, that means the buyout offer will affect only three employees at the Defiance Regional Hospital.
From 2011–13, the total number of employees at ProMedica hospitals increased from about 10,000 to almost 15,000.
ProMedica is one of many hospitals across the nation now trying to shrink its costs. Other hospitals are even laying off employees.
Officials say the future does not look that good for hospitals since the Affordable Care Act will reduce reimbursements even further.