Ballad Health to furlough certain employees as COVID-19 pandemic continues
Ballad Health has announced temporary furloughs to select employees and pay cuts as COVID-19 continues to affect the region.
CEO Alan Levine made the announcement during a Wednesday morning press conference, stating approximately 1,300 employees, with the majority in TN that would be affected. Levine says those being furloughed will receive full company health and pharmacy benefits, while around 70% of those furloughed will be able to maintain at or near their current income level through federal unemployment benefits.
Ballad says they have also invested in front-line workers like RNs, LPNs, RTs, and nursing assistants, by guaranteeing 100% of the hours they are in the system for. Ballad has seen nearly 70% in business reduction since the start of the pandemic, with things such as elective surgeries being suspended.
10-20% pay cuts will occur for certain higher up positions like VPs and Senior VPs. The furloughs are effective as of Friday. Levine says Ballad could lose over $150 million dollars in the next 90 days.
Ballad has also announced suspension of collection services for the next 90 days. Levine tweeted Tuesday that if patients who owe Ballad for medical services cannot make payments due to possibly being economically affected by the pandemic, they can choose to delay for the 90 day period. Levine however, encourages those who can afford medical payments at this time, to continue making the necessary payments.
Photo Courtesy: Ballad Health