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Baystate Health to lay off 300

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The Boston Business Journal reports that Springfield, Mass.-based Baystate Health will lay off about 300 people because of a projected $75 million budget shorfall.

Its problems can be blamed in part on a math error regarding Medicare payments made by  giant Boston-based Partners HealthCare but that also affects most other hospitals and health systems in the state. The Partners mistake will result in Baystate losing $23 million in Medicare payments. Baystate’s budget shortfall’s causes also include lowered reimbursement from Medicaid.

The Baystate layoffs,  aimed at cutting about $40 million in expenses, represents 2.4 percent of Baystate’s 12,500-person workforce. The health system will still face a $15 million budget gap after the layoffs.

“We’ll continue our work to address this gap and do all we can to preserve jobs,” Mark A. Keroack, M.D., president and CEO of Baystate Health, said in a press release.

To read the Boston Business Journal article, please hit this link.

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