Changing healthcare industry necessitates proactive local changes
(FERGUS FALLS, Minn.) – Lake Region Healthcare (LRH) announced today the implementation of an internal Financial Improvement Plan. The plan is designed to improve annual bottom line increases through a combination of new revenue sources, restructuring, reassignments, reductions in staff hours, reductions through attrition, and the layoff of 16 full and part-time employees across the organization.
“Changes like this are never easy. We are very sensitive to the people whose positions are affected, and we are doing what we can to help refer them for application to open positions at Lake Region Healthcare or elsewhere in the community,” Larry Schulz, LRH President and CEO, said.
Schulz noted changes in healthcare structure will be or are currently being seen industry-wide.
“Like many healthcare providers, we must respond and adapt to the many changes and challenges in the healthcare industry such as payment reform, the impact of the Accountable Care Act, ongoing regulatory and legislative pressures and industry-wide trends toward declining volumes,” he said. “The impacts are real, and the time to be proactive is now in order to position ourselves for a strong future in this ever-changing healthcare landscape,” Schulz added.
As the largest employer in Ottertail County, LRH employs more than 900 people. For more information on LRH, visit www.lrhc.org.
About Lake Region Healthcare
Lake Region Healthcare is living out its vision to be Minnesota's preeminent regional healthcare partner. With over 70 medical staff and over 900 employees, its team is dedicated to serving its patients and community with integrity, teamwork, compassion and excellence. For more information about Lake Region Healthcare, visit www.lrhc.org.
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