Mass. Hospital To Post Loss, Warns Of Layoffs
WORCESTER, Mass. (AP) — UMass Memorial Health Care is expected to post a $57 million operating loss in its last fiscal year, likely resulting in future layoffs and other cost-cutting measures for the hospital system.
The Telegram of Worcester reports that officials sent a memo to employees saying the operating loss for the 12-month period ending Sept. 30 would be the first for the nonprofit hospital system in eight years.
Hospital spokesman Robert Brogna says rising costs and reduced inpatient volume are contributing to the losses. He did say UMass Memorial Health Care would be able to post a $75 million surplus for the fiscal year thanks to investment income and one-time revenue from the sale of two units.
There was no immediate word on how many layoffs might be needed.
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