Minnesota hospitals’ income soars
By Mathew Keller RN JD, Regulatory and Policy Nursing Specialist
In yet another sign that Minnesota Hospitals are using the myth of a Minnesota “nursing shortage” in order to avoid appropriate nurse staffing, the Star Tribune recently reported that our 10 largest hospital systems “saw operating income jump by 38 percent in fiscal 2014 compared with the previous year.”
These healthcare systems reported sparking income growth by “putting the brakes on hiring.”
In particular, North Memorial Medical Center saw its highest net profit margin since 2006 (and yet is currently laying off RNs); the Mayo system reported a 1 percent decline in salary and benefit costs while experiencing a 36 percent increase in revenue (complaining of a nursing shortage and cutting pensions the whole time); Sanford reported eliminating positions through attrition (while also reportedly purposefully staffing 10 percent under grid in order to cut costs); and HCMC, a 472-bed facility, added the equivalent of only 38 full-time positions.
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