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Vanderbilt University Layoffs

Messages relating to layoffs at Vanderbilt University are presented below the company info.

Vanderbilt University

Company information:

Industry/Area of Activity:
Higher education, colleges and universities.
Company Stock Ticker:
Educational instituion. No ticker. Not Listed.
Stock traded at:
Not applicable
About Vanderbilt University:
Univesity/College. Provides services in the area of education and skills improvement.
Contact information:
Vanderbilt University is one of the largest employers in Nashville, Tennessee (TN) 37203-1700. Tel: (615) 322-2561.

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Posts regarding layoffs at Vanderbilt University

Go to thread Anonymous3745, Tuesday 01/28/14 02:54:02 UTC

Vanderbilt University Hospital layoffs

I hear you guys are going thru layoffs - Good luck and God bless!
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Go to thread Anonymous, Thursday 10/10/13 05:30:27 UTC
Balser sent another mail to vandy staff today discussing more layoffs coming.
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Go to thread kroodo, Thursday 10/10/13 05:29:42 UTC
The administration at Vanderbilt University Medical Center plans to cut $250 million from its budget over the next two fiscal years, which could include more than 1,000 jobs, to try to sidestep looming financial pressures. “I think it would be better if we (could) manage this over, say, a five-year period instead of having to do it so quickly,” Dr. Jeffrey Balser, Vanderbilt’s vice chancellor for health affairs, said in his first public interview following the latest round of jobs cuts at Nashville’s largest private employer more than a month ago. Yet despite the speed and extent of the cuts, Balser remains optimistic. “All businesses need to have, at times, a hard introspective look at how they’re operating,” he said. “Any time you look at something hard that way, you almost always find opportunity. And that’s what we’re finding.” Balser said he couldn’t offer more specific information about what type of positions were at stake for the impending layoffs, how many would happen at once or when they would happen — except to say it would be by the end of this fiscal year. Vanderbilt’s operating budget is about $3.7 billion for fiscal year 2013. But Balser said he accepts responsibility for all of the tough choices regarding cuts. Vanderbilt is working with renowned consulting firm McKinsey & Co. to determine the best options for the cuts. “I am in town hall meeting after town hall meeting after faculty meeting after group meeting. I am trying to be out there every single day, meeting with groups, having a dialogue, hearing their concerns and feeding that back to the leadership,” Balser said. “Because as we do this, our success will depend upon how people feel about how we managed it.” One way that Balser is managing this process, he said, is to explain the financial pressure generating the cuts in terms of four distinct “buckets.” They are: • An aging population. Over the next several years, more patients are expected to move from their current coverage plans to Medicare, which pays a lower reimbursement rate than managed-care policies. Thanks to sweeping cuts in government spending this year, Medicare reimbursement rates have decreased by 2 percent. Overall, Medicare patients accounted for about 26 percent of Vanderbilt’s gross patient revenue as of the end of 2012. • Lower reimbursements. Insurance companies, across the board, will try to pay providers less in the future. According to Balser, “Payers are trying to reduce their cost because companies are trying to reduce their cost, and the whole system is contracting in what it is paying all hospitals for health care.” Insurers are, in fact, seeking to pay less, said Brian Haile, senior vice president for health policy at Jackson Hewitt. However, Haile said that shouldn’t harm Vanderbilt much because most insurers want to cut costs by keeping from paying for problematic providers with higher rates of readmitted patients and hospital-acquired infections. Vanderbilt doesn’t fit in that category, he said. “When you’re an academic medical facility and you have the only level-1 trauma center and the only children’s hospital in the area, you’re the rate-maker because there’s no competition.” • No Medicaid expansion, at least for now. Tennessee has, so far, opted out of expanding Medicaid and has not submitted an agreeable alternative plan. Balser predicts that because of that, Vanderbilt, the largest provider of uninsured care in the state, will see even more uninsured patients, many of whom show up in the emergency room and are expensive to treat. As of the end of 2012, “charity care,” or care the hospital provides without expecting to be paid, cost Vanderbilt $120 million. Balser attributes about one-third of the layoffs at Vanderbilt to the growing cost of uninsured care and the lack of a solution for Medicaid expansion. • Cuts in research funding. Due to federal budget cuts, the National Institutes of Health will reduce the money allocated in grants over the next several years. That reduction will impact the medical center, Vanderbilt says, to the tune of about $20 million a year, most of which supports grant-funded laboratory staff positions. By comparison, Vanderbilt received about $600 million worth of public and private grant money in 2012. Vanderbilt is not currently strapped for cash. Its net assets as of the end of 2012 totaled about $5 billion, and its endowment was worth almost $4 billion. The endowment, however, cannot protect the Medical Center from the coming cuts, Balser explains, since it’s designed to support research and education, not other functions of the Medical Center. Unfortunately, the programs supported by the endowment are not necessarily protected. “Nobody gets a bye just because somebody happens to be part of a program that is supported by the endowment, because that would create an atmosphere of haves and have-nots,” Balser says. “What the chancellor’s doing over at Vanderbilt appears pretty brilliant,” said Joe Lupica, chairman of Newpoint Healthcare Advisors. “He’s like (Wayne) Gretzky, he’s skating to where the puck is going to be — he’s getting ahead of the curve.” However, there’s no way to know until later whether Vanderbilt got to the right size in time, or whether it will end up running too lean. As for the employees whose jobs could fall under the $250 million on the chopping block, “I can’t take away the pain of having to leave the organization for those that do when we downsize,” Balser said. “But what I can do is assure people that the process we’re going through has integrity and is thoughtful, and that we’re trying to minimize it as much as we possibly can. That’s what keeps me up at night.”
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Go to thread kalamine, Thursday 10/10/13 04:44:55 UTC
anyone knows what was in his email?
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Go to thread Anonymous, Thursday 10/10/13 03:08:30 UTC
Balser sent another mail to vandy staff today discussing more layoffs coming.
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Go to thread Channel 4 News, Thursday 10/03/13 00:39:31 UTC
There was some coverage this morning - anyone heard something re Vanderbilt University layoffs on Channel 4 News?
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Go to thread Let's go..., Monday 09/23/13 23:18:50 UTC
Attorneys with Barrett Johnston LLC, including civil rights lawyer George Barrett and former U.S. Attorney Jerry Martin, said in the complaint that Vanderbilt violated the WARN Act, which requires employers planning a mass layoff to notify employees and certain government officials 60 days in advance. For instance, on September 17, Vanderbilt reported to government officials that it would let go of up to 1,033 people by the end of this year. As of Thursday, 275 people had been laid off in the last round, according to Jeffrey Balser, the head of the Vanderbilt UniversityMedical Center. All 275 were given 60 days notice. The job cuts in July did not prompt a similar notice, according to the lawsuit. The lawsuit claims, “Although the letters provided to the July 2013 group of terminated employees referenced ‘performance’ as part of the basis for the terminations, this was merely a ruse designed by the Defendant to intentionally avoid the WARN Act's obligation and requirements.”
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Go to thread Anonymous, Thursday 09/19/13 00:50:49 UTC
Any news here? We all know what's happening...
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Go to thread DROP, Tuesday 07/09/13 12:12:17 UTC
VUMC has cut an unspecified number of jobs amid a challenging operating environment for many hospitals. The cuts, made across departments in the academic medical center, focused on employees who scored below a certain threshold in performance evaluations. John Howser, a Vanderbilt spokesman, said the cuts were not considered layoffs and that Vanderbilt, one of the city’s largest private employers, was taking steps to address workplace performance. “We are an institution constantly in pursuit of excellence aggressively meeting the challenges currently facing not only Vanderbilt but the nation’s entire health care industry,” he wrote in a prepared statement to The Tennessean this week. “We are committed to the very highest level of care for our patients, which includes addressing workplace performance as necessary.” Total cuts were believed to affect anywhere from 100 to 300 workers on the medical center’s main campus, as well as at Vanderbilt Health One Hundred Oaks, according to numerous sources. The cuts came as Vanderbilt began its new fiscal year July 1 under pressure from federal spending cuts and much uncertainty around the Affordable Care Act, including whether Tennessee will eventually approve Medicaid expansion. “Everybody’s tightening their belt,” said Craig Becker, CEO of the Tennessee Hospital Association. “It’s definitely that time. We’re seeing with the (health care reform law) coming down, everybody’s taking a look at the services they’re providing and whether they can continue providing those services.” Challenges cited Two months ago, Vanderbilt cited “unprecedented financial challenges” posed by the federal budget sequestration when it announced measures to help make up for a $20 million shortfall by its recent fiscal year end on June 30. More than half of that amount was expected to be saved by prohibiting more than 14,000 employees from earning vacation time from April 1 through June 30. The medical center also said it didn’t plan to implement a pay increase July 1 as it tries to cut an additional $30 million, for a total of $50 million over two years, from its budget. “We will constantly evaluate savings performance from a host of cost reduction activities, while continuing to brace for additional revenue reductions we will likely see over the coming months,” Dr. Jeff Balser, vice chancellor for Health Affairs and dean of the Vanderbilt School of Medicine, said at the time. Officials said the cuts were needed to avoid layoffs. Locally, Vanderbilt isn’t alone in cutting jobs. Saint Thomas Health, for instance, has had several rounds of job cuts in recent years at its Middle Tennessee hospitals.
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