Mercy Medical to freeze hiring, salaries

Joining a number of other facilities like the Cleveland Clinic, Iowa's Mercy Medical Center just announced plans for a hiring and salary freeze. The salary freeze will go into effect for the facility's managers, directors and senior management.

According to CEO Tim Charles, the hospital is simply trying to adjust to the current economic realities.

Meanwhile, another Iowa hospital system--the University of Iowa Hospitals and Clinics--already has reduced expenses by 9 percent since last fall, mainly through job redistribution and job cuts. Mercy plans to offer its current employees the opportunity to either switch from full time to part time, or to "voluntarily resign."

To learn more:
- here's the full Healthcare Finance News article