University of Chicago hospital to trim 7% of budget

The University of Chicago Medical Center has confirmed a massive restructuring that will trim $100 million in expenses, or nearly 7% of its annual budget, amid the economic downturn and unpaid bills owed the hospital from the state Medicaid program. Initially, the hospital is eliminating 15 senior executive jobs. The hospital has yet to determine the additional job cuts but said they would not affect medical care.