A good friend of mine works for a hospital in LA. The entire staff received a 10% pay cut last Friday.

A good friend of mine works for a hospital in LA. The entire staff received a 10% pay cut last Friday.

Health care is not immune this time:

” And while total employment at hospitals grew somewhat in 2008, even as millions of jobs were lost in other industries, hospital employment grew by only 0.1 percent each in January and February and was flat in March. That’s according to the federal Bureau of Labor Statistics.

For the first quarter of this year, 43 percent of hospitals said they expected to lose money, up from 26 percent in the first three months of last year. About one in three hospitals saw a drop in the ratio of income to what they must pay creditors (because more patients are putting off tests and elective surgeries, such as knee replacements). Declines in such measures of financial health can lead creditors to demand immediate repayment of loans.

Meanwhile, many hospitals are seeing increased interest expenses, insurers taking longer to pay their bills, more difficulty or inability to borrow money and other problems. That’s led more than three-fourths of hospitals to delay, stop or scale back building projects or upgrades to medical or information technology.”

Health care is not immune this time:

” And while total employment at hospitals grew somewhat in 2008, even as millions of jobs were lost in other industries, hospital employment grew by only 0.1 percent each in January and February and was flat in March. That’s according to the federal Bureau of Labor Statistics.

For the first quarter of this year, 43 percent of hospitals said they expected to lose money, up from 26 percent in the first three months of last year. About one in three hospitals saw a drop in the ratio of income to what they must pay creditors (because more patients are putting off tests and elective surgeries, such as knee replacements). Declines in such measures of financial health can lead creditors to demand immediate repayment of loans.

Meanwhile, many hospitals are seeing increased interest expenses, insurers taking longer to pay their bills, more difficulty or inability to borrow money and other problems. That’s led more than three-fourths of hospitals to delay, stop or scale back building projects or upgrades to medical or information technology.”

Health care is not immune this time:

” And while total employment at hospitals grew somewhat in 2008, even as millions of jobs were lost in other industries, hospital employment grew by only 0.1 percent each in January and February and was flat in March. That’s according to the federal Bureau of Labor Statistics.

For the first quarter of this year, 43 percent of hospitals said they expected to lose money, up from 26 percent in the first three months of last year. About one in three hospitals saw a drop in the ratio of income to what they must pay creditors (because more patients are putting off tests and elective surgeries, such as knee replacements). Declines in such measures of financial health can lead creditors to demand immediate repayment of loans.

Meanwhile, many hospitals are seeing increased interest expenses, insurers taking longer to pay their bills, more difficulty or inability to borrow money and other problems. That’s led more than three-fourths of hospitals to delay, stop or scale back building projects or upgrades to medical or information technology.”

A couple of friends lost their jobs at a local SD medical group this month. 22 jobs gone.

Another friend lost his HR manager job after it was eliminated last week in a round of layoffs within a large manufacturer here in SD.

A couple of friends lost their jobs at a local SD medical group this month. 22 jobs gone.

Another friend lost his HR manager job after it was eliminated last week in a round of layoffs within a large manufacturer here in SD.