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Baxter Health leadership has notified employees of growing financial pressures stemming from lower-than-expected patient volumes and continued inflation in operating costs.The update follows a 13-month stretch of positive operating margins that came to an end earlier this year. In February, officials say patient volumes began falling short of projections, a trend that, combined with rising labor and supply costs, has started to strain the health system’s financial position.
KTLO, Classic Hits and The Boot News met with Vice President of Marketing and Communications Tobias Pugsley and Vice President of General Counsel Nicole Vaccarella, who explained the details behind the financial strain.
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While some might assume Baxter Health’s financial challenges stem from growing too quickly, Vaccarella says that’s not the case. In fact, she says the system’s recent growth has actually helped soften the impact.
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As Baxter Health works to align its resources with current patient volumes, Vaccarella acknowledges that making staffing adjustments is never easy, but the organization is approaching the situation carefully, emphasizing that many other roles remain open across the system.
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Pugsley says he’s often asked whether Baxter Health is for sale, but he makes it clear, that’s not the case. The hospital exists to serve the community.
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Despite the current challenges, Baxter Health leaders remain confident in the future. They acknowledge the difficulty of the decisions ahead, but say they’re making them with long-term stability in mind.
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Leadership acknowledged that adjustments may be necessary as the organization navigates the evolving landscape, but emphasized a commitment to transparency and say employees will continue to be kept informed as the organization works through its response.
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