The operating losses at Beaumont and Lakeland are not unique. Spectrum Health got $46.1 million in state and federal aid to boost midyear net operating income to $139.7 million. In West Michigan, BHSH Spectrum Health generated $93.5 million in operating income that also came on $1.91 billion in total operating revenues. The $3.5 million in state and federal pandemic relief aid that Beaumont received reduced the net operating loss to $96.2 million. Lakeland’s midyear operating loss came on $322.9 million in operating revenues in the first half and was aided by $6.4 million in state and federal pandemic relief aid that reversed the loss into $3.3 million in net operating income.Īnother $78.6 million loss on investments drove Lakeland’s net loss even deeper to $70.1 million for the first half of 2022.Īcross all business units, BHSH System recorded $63.5 million in net operating income for the first half on $6.58 billion in total operating revenue, which came on top of investment losses, as MiBiz reported last month.īHSH’s Beaumont Health in Southeast Michigan recorded a $99.7 million midyear operating loss on $1.91 billion in total operating revenues. Joseph first reported the cuts this week.
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Joseph, the 64-bed Lakeland Niles Hospital, and Lakeland Hospital Watervliet that has 44 beds, plus several outpatient locations in Southwest Michigan. Spectrum Health Lakeland includes the 180-bed Lakeland Medical Center in St. “We are grateful for the contributions and years of dedicated service provided by our impacted team members and are working to help them find new employment within our health system and elsewhere.” “While we have reduced our Lakeland leadership by nearly two dozen positions, we continue to actively recruit and grow our patient-facing team across the organization, hiring more than twenty team members each week,” according to a statement from Spectrum Health Lakeland. The jobs cuts come after Spectrum Health Lakeland recorded a $3.1 million operating loss through the first half of 2022, and the health system “like others around the nation” faces “significant financial pressures from historic inflation, rising pharmaceutical and labor costs, COVID 19, expiration of CARES Act funding and reimbursement not proportional with expenses.” JOSEPH - BHSH Spectrum Health Lakeland has cut nearly two dozen leadership positions in Southwest Michigan.
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