By BRENT MARTIN
St. Joseph Post
Mosaic Life Care has eliminated positions and cut salaries to deal with a drop in revenue during the coronavirus pandemic.
Mosaic issued a news release stating that seven leadership positions were dropped as for Friday, May 1st. Also, all officers, physicians, vice presidents, and directors took a pay cut. Mosaic says it is eliminating some positions and improving efficiencies to save money.
“We are proud of the extraordinary work Mosaic caregivers have done during this global pandemic,” Dr. Mark Laney, Mosaic CEO, said in a written statement released by Mosaic. “However, the financial impact has been significant on our operations and this decision is a necessary step to ensure Mosaic is here for the long term to meet the health needs in our region. Our hospitals remain the best and safest place to receive care.”
Mosaic did not specify the amount of revenue it has lost during the pandemic nor the savings it expects from the moves.
Mosaic says many factors contributed to the drop in revenue at the hospital, including the postponing of elective surgeries, patients delaying needed care, and spending extra on supplies and construction to treat COVID-19 patients as well as minimizing risk and exposure to caregivers.
“Many of these changes were already within Mosaic’s long-term cost reduction plan to address the ongoing Medicare reimbursement reductions and the lack of Medicaid expansion in Missouri,” Laney said. “At the end of the day, we have a duty and an obligation to our neighbors in northwest Missouri to be good stewards with our finances to ensure Mosaic continues to be here for generations to come.”