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Riverside Healthcare reports 80% lost revenue YTD, CEO addresses layoffs
Riverside is bleeding in Kankakee. Reports began surfacing in late May of as many as 300 jobs being lost at Riverside Healthcare due to restrictions put
By Shane Saathoff · 2020-06-27T05:30:32+00:00
Riverside is bleeding in Kankakee Reports began surfacing in late May of as many as 300 jobs being lost at Riverside Healthcare due to restrictions put in place during the COVID 19 pandemic. Recently, Riverside confirmed the unfortunate news, announcing that the hospital has lost roughly 80% of its revenue year to date.
Phil Kambic, President and CEO of Riverside Healthcare, addressed the situation in a recent statement, citing a significant reduction in patient volume for non emergency procedures and elective surgeries.
"Like many healthcare organizations across the country, Riverside has been significantly impacted by the pandemic," said Kambic. "We have experienced an 80% decrease in our net revenue year to date, which has forced us to make the extremely difficult decision to reduce our workforce."
Riverside, which is one of the largest employers in the Kankakee area, noted that the layoffs are a necessary step to ensure the long term sustainability of the health system.