Sunday, August 11, 2013

Lab Testing: August 31st

For my initial entry into the blogosphere, I share with you that my August 31st has arrived.  August 31st is the day of the 2013 NFL calendar on which all clubs must reduce their rosters to a maximum of 53 players on the active/inactive list. 

In other words, the NFL teams (the employers) inform their players (the employees) that the organization has to do some restructuring and as a result certain individuals will be cut or impacted.  This is usually accompanied by a speech from the head coach or GM stating something to the effect of “we’ve had to make some difficult decisions but feel that it’s in the best interest of the organization to be successful going forward”.

According to the latest monthly job cut report by Challenger, Gray & Christmas, Inc., the healthcare sector led July workforce reductions with 6,843 planned job cuts, the highest number of cuts in the industry since November 2009 when it slashed 9,558 jobs.

“Cuts in Medicare reimbursements brought about by sequestration and health care reform are hurting hospitals’ bottom line. Some states are also cutting Medicaid funding, which adds to the financial challenges. Hospitals are also reporting fewer patients as high-deductible insurance policies discourage would-be patients from seeking health services. As a result of these factors, health care providers, which had been one of the country’s best job generators in recent years, are being forced to reduce their headcounts,” said John A. Challenger, chief executive officer of Challenger, Gray & Christmas.
 As hospital admissions keep declining and reimbursement continues to deteriorate, chances are, if you work on the provider side of healthcare long enough, you’ll know someone that will experience their August 31st too. 

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