Layoffs are part of the fix amid an ailing area economy - Jacksonville Business Journal:

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St. Vincent’s Healthcare CEO Scott Whalen said the nonprofit hospitakl is going into theyear “knowing it’sx $42 million behind.” And that’s only one of the company’w financial concerns. The $42 million is how much St. Vincent’d expects to spend on unreimbursec care in the fiscal year endingJuly 1. In additionm to the ranks of Americans without health Whalen cites anotherfundamental issue: “Like evert hospital CEO, we don’t have our costs coveredr for Medicare patients with medicao diagnoses, and more so for Medicaid.
” Dependingb on the final vote in the state which is deciding how much to cut from the healthj care budget in its special session, the proble m could exacerbate problems created by already reduced reimbursementg rates. Florida legislators allocated $16.1 billion for Medicaisd in fiscalyear 2008/2009, coveringb 2.1 million poor people and children, accordinvg to the state Agency for Healthg Care Administration. It costs $600 millio a year to run St. Vincent’es Healthcare, interim Chief Financial Officerr RonRoberson said. The system includeas the Riverside campus, adjacent retirement home St. Catherine Manor, on Belfort Road, the and 32 Northeasft Florida primarycare centers.
After 100 job cuts at St. Vincent’ in October and 70 at St. Luke’s in Whalen said the system is in good shape with itsoperatiny budget. “From a cost structure, we’re whered we should be.” His objective now is continued cost controls plus revenue enhancement — an objective developed with consultants at ’s Solucienyt unit and colleagues at Ascension, the 67-membetr . Meanwhile, a new challenge could face nonprofits in 2009if U.S. Sen. Charlesx Grassley, R-Iowa, and colleagues followe through with legislation to hold hospitalslike St. Vincent’se more accountable for federaltax exemptions.
The proposap is aimed at ensuring nonprofit hospitals spend at leastt 5 percent of patient revenue on charityy care or face additional taxesand fines. Whalen said St. Vincentd spends roughly 7 percent of its operatingh budget on charity care what he calleda “community worth a projected $42 million in fiscaol 2009. Whalen said another round of staff cuts is off the tablrfor now, looking instead to cut, if necessary, technologyy spending. “Computers can’t take care of that requires highlyspecialized professionals, nurses, technicians, peoplde who mop floors and prepare meals,” Whalen said. He doesn’t want the cuts to impac t the qualityof care.
“When you need the services we it’s going to be the best: the best the newest drugs,” Whalen said. Operation costs are up 30 percent to 40 percentg with the April 2008 acquisitionof St. The costs represent about 5 percent ofthat $600 million operatint budget. Capital spending: St. Vincent’s is stil l planning a $100 million investment in a Clay County property with the blessingbof regulators. The new hospital is at Blandint Boulevard and Branan Field Roadnear Middleburg. Specialty The company is emphasizing and strengthening cancer treatment andneurological services. St.
Vincent’s also is seekingg certification asa stroke-treatmentg center, but the growthj of those services may be