Billings (Mont.) Clinic plans to cut $4.5 million monthly through cost-saving measures, including physician pay cuts up to 5 percent and suspensions of company contributions to employee retirement plans, MTN News reported March 31.
The hospital has asked for other cutbacks, including a companywide hiring freeze, halting capital projects, a temporary 10 percent pay cut for all hospital executives, a business travel freeze and a reduction in contract labor, according to an internal memo obtained by the publication. According to the memo, the hospital's monthly losses are "unsustainable."
The hospital has also signed a contract with US Anesthesia Partners, which the memo said would "boost surgical services hospitalwide," the publication said.