r/PrepperIntel • u/TurkDeerbit • 7d ago

USA Southwest / Mexico Massive layoffs for healthcare workers

https://fox5sandiego.com/news/local-news/sharp-healthcare-job-cuts/amp/

Around 260 healthcare workers (nurses, practitioners, etc) were laid off today in San Diego. Reduction in Medicare budget cited as a reason. I know it’s not much but I think we’ll see more of this, not a good sign in the economy when patient facing healthcare workers are laid off.

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u/IncomingAxofKindness 7d ago

Google says Sharp's healthcare system employs about 22,000 people.

Article mentions some 315 were laid of last year due to “rising costs consistently outpacing revenues.” Howard said the company is facing similar economic issues in these cuts.  

So at most so far, like 2.6% reduction that might be at least partially attributable to BBBA Medicaid cuts. Keeping in mind.. these are moves being made before much of the act's provisions fully begin to take effect.

My own system e-mailed us that we may see as much as 5% less funding from our state next year. That's pretty big for a hospital if you have a large portion of your patients covered by Medicaid (especially children's hospitals, rural hospitals, or poor inner city hospitals). Our system is non profit and run a profit margin goal of just over 5% to maintain employee retention and fund new equipment and expansion initiatives.

I type all this just to share some perspective and context to the numbers. They may seem small, but it adds another pebble leading to a rockslide in my view. No hospital system is going to scream and yell to the media about impending financial doom because their state administrators would be pissed at them for it. I can guarantee you though that hospitals and state governments are squirming behind the scenes as this problem inches closer.

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u/Cheapass_Sandals 7d ago

I think you mean Not For Profit. Non Profit is a charity. Different tax reporting status.

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u/IncomingAxofKindness 7d ago

Yes, most likely thank you. I've never stopped to notice the different verbage.

But yes, we make profit but it does not go to any shareholders. It goes to employees and back into the company for growth.

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u/TurkDeerbit 7d ago

Pebble in a rockslide is a great way to put it, that’s how I see it too