The CEO and vice presidents at West Virginia University Medicine will take salary cuts as the Morgantown-based health system's hospitals face "significant and unsustainable financial strain" due to the COVID-19 pandemic, according to information the health system shared with Becker's Hospital Review April 9.
WVU Medicine President and CEO Albert L. Wright Jr., PharmD, and system vice presidents have agreed to a 10 percent pay reduction for the next six months.
The health system, which owns 11 hospitals and manages eight, said the pay cuts will help fund a salary guarantee it is making to staff who work in areas with low clinical volume.
"Since our volumes have dropped, we understand that many people are not as busy as they were previously," said Mr. Wright in a letter to employees.
In response, the health system has developed a work reassignment program and seeks to match people with new roles or shifts, he said. If WVU Medicine can't make a match, and the only alternative is for the employee to go home, Mr. Wright said the health system has pledged to pay that employee 75 percent of time sent home. The work reassignment program will be reassessed in mid-May, he said.
WVU Medicine also has enacted a hiring freeze for the next three months to help pay for the salary guarantee.