Coral Gables-based Baptist Health South Florida is offering its executives at the director level and above a "one-time opportunity" to apply for voluntary separation in a bid to cut costs, according to a June 29 Miami Herald report.
While details were few and far between as to job numbers involved and how much the system hoped to save, the 12-hospital system's CEO, Albert Boulenger, wrote an internal email to staff saying the organization needed to become more efficient given the environment in healthcare, the report said.
"With financial headwinds stemming from rising costs, decreased reimbursement, staffing shortages and other industry factors, we must continue to focus on being a more efficient organization," he said in the email.
The decision to offer the buyouts was one made by Mr. Boulenger and the executive leadership team, a spokesperson told Becker's.
"There is no specific target number for VSO (voluntary separation opportunity), and end dates may vary depending on organizational needs," the spokesperson added.
Baptist Health South Florida, which has annual revenues of approximately $5 billion, employs 27,000 people. Decisions on the buyout applications will be made during the summer.