Will it happen again? Last year, Envision Healthcare Corp cut senior staff salaries by 50% and other cost-cutting measures as the coronavirus pandemic puts pressure on the company.
The company reported steep drops at its care facilities as COVID-19 is forcing patients to delay surgeries and stay out of hospitals.
Envision, which provides medical staff to hospitals and operates surgery centers, said performance-based bonuses and profit sharing with staff were delayed.
Retirement contributions, merit increases, and promotions for all employees will be temporarily suspended, the company added.
“The healthcare system is probably under as much financial strain as I’ve ever seen and we’re part of that,” Envision Chief Executive Officer James Rechtin said.
Will the hospital industry once again be under pressure to halt lucrative elective surgeries?
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