Banner Health CEO explains overhaul, cuts to 1 percent of positions

Banner Health, Arizona's largest private employer, has completed an overhaul with changes to upper-management and cuts to nearly 1 percent of the health provider's positions, a top official said. The Phoenix-based health system's chief executive said the restructuring aims to reduce costs and respond to the health industry's changing financial picture, which includes tighter insurance reimbursement rates and pressure on consumers to pay a larger share of their own health bills.