Baylor medical school plans cost-cutting
Baylor College of Medicine, trying to fix its shaky finances, has begun a cost-cutting initiative that should reduce administrative staffing by about 15 percent, its new leader informed employees Thursday.
In a memorandum to staff, Baylor President Dr. Paul Klotman wrote that the college's vice president for human resources will lead the effort to "right-size" the administration, whose 1,440 employees' salaries and benefits cost the institution $118 million yearly. Klotman said he believes a review will find a "duplication of efforts within and across departments."
"I recognize that there has been a lot of hard work over the last several years to address the college's financial challenges," wrote Klotman, who led a similar effort as chairman of medicine at Mount Sinai School of Medicine in New York. "However, there is more work ahead of us to become truly fiscally disciplined."
A Baylor spokeswoman said it is too early to know how many layoffs will result from the process. She said Klotman would not elaborate on the memo.
- New G-Codes to Pay Doctors for Broad Array of Non-Face-to-Face Care
- CMS Sets 2014 Pay Rates for Hospital Outpatient and Physician Services
- Telehealth Improves Patient Care in ICUs
- Hospital M&A Volume Up, Value Down in 3Q
- 50 Years of Fighting Pressure Ulcers Called Into Question
- Douglas Hawthorne—A Chance to Do Something Big
- Why You Should Involve Patients in Nursing Handoffs
- States Rejecting Medicaid Expansion Forgo Billions in Federal Funds
- Small Doesn't Mean Doomed
- Nonprofit Hospital Outlook 'Negative' in 2014