Campbell County Health has announced implementation olf multiple cost reduction measures in response to significant financial pressures caused by the COVID-19 pandemic.
Hospital CEO Andy Fitzgerald said preparations for COVID-19 response and decrease in services like elective surgeries and outpatient procedures have reduced revenues by over 50 percent and decreased cash reserves to a level that is very concerning.
He said measures have to be taken now to continue to provide healthcare to the community in the short term and remain financially viable. He said the hospital is also taking these actions so the hospital can continue to provide a high level of care to address the COVID-19 crisis.
Cost reduction measures include a 50 percent pay cut for the CEO, 20 percent pay cut for senior management and 5 percent pay cut for directors and managers through the end of the fiscal year.
Measures also include restructure of some departments and staff positions, and all leadership positions are required to take one day off per pay period until June 30. Capital expenditures and educational travel are frozen through the end of the year, there will be mandatory hourly reductions across most departments, and there will be temporary furloughs for some departments and employees.
These employees would keep their benefits and would be brought back to work within six to 12 weeks.
Dr. Ian Swift, chairman of the Campbell County Health board of trustees, said it’s never easy to make these kinds of decisions, and the board will be looking to the county’s legislative delegation and the state of Wyoming to assist the hospital with CARE Act funding to preserve the level of care in the community and mitigate healthcare hardships.