Cash issues. This is bad. It'll most likely require cuts...
This is for the South Shore Hospital in Chicalgo...
South Shore Hospital, in a bid to stay open under a mountain of unpaid bills, is slashing salaries by 10 percent, laying off employees and seeking concessions from vendors.
"We're in a serious cash crunch," says CEO Tim Caveney, who cited the cutbacks.
The 136-bed hospital, a "safety-net" institution in the city's South Shore neighborhood, is losing $180,000 a month, mainly because a backlog of Medicaid reimbursements has nearly doubled to $6 million since mid-2014. "That's a lot," he says.
Source:
http://www.chicagobusiness.com/article/20171220/NEWS03/171229995/south-shore-hospital-struggling-to-survive-cuts-pay-and-jobs