Five things to know:
1. The health system reported pay cuts and cost reductions for 1,800 Providence employees, including physicians , in addition to previously announced mandatory furloughs or pay reductions for 600 other employees.
2. Providence Medical Group will cut the pay of 600 employees, mostly physicians, according to the report. The employees will see a 10 percent to 17 percent pay cut.
3. Physician assistants, as well as physical and occupational therapists with the medical group, are also subject to the pay cuts.
4. The health system said it anticipates the pay cuts will last through one quarter of this year, and it will restore salaries after three months.
5. Providence said it is making the temporary pay cuts due to losses during the COVID-19 pandemic.
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At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.