This Boston Business Journal story details an extraordinary turnaround at New Bedford. Mass.-based Southeast Health System, which had a $30 million operating loss in fiscal 2014.
Now the system estimates it had about a $5 million operating profit for the year ended Sept. 30. Besides laying off 100 employees, it cites such important changes as shifting from mainly inpatient to mostly outpatient.
After the improvements, Southcoast will give $1.2 million in bonuses to more than 6,000 employees, excluding senior executives, directors and managers. Higher positions will receive bonuses, but the board is still determining the amounts. Other employees will receive amounts that will vary according to their status, the publication reported.