Altru Health in Grand Forks trying to cut costs
GRAND FORKS, N.D. (AP) — Grand Forks-based Altru Health System is exploring a number of different cost-saving measures because a drop in federal Medicare reimbursements has been steeper than expected.
Chief Planning Executive Dennis Reisnour tells the Grand Forks Herald the health system is not planning layoffs. But he says Altru is considering combining responsibilities and holding off on filling open positions, as well as slowing down capital investments.
Altru senior leadership also is taking a 15 to 20 percent pay cut through the end of the year. Reisnour says that affects about 20 administrators, officers and executives.
Reisnour says that because of federal budget cuts, Altru budgeted for a $300,000 drop in monthly Medicare reimbursements this year. But he says the reduction has actually been about $1 million more than that per month.