RAPID CITY, S.D. – In a move that caught healthcare professionals and the business community by surprise, Monument Health will lay off a large number of employees in response to what it called significant operational and financial challenges.
In a statement sent to employees, the announcement revealed at least 80 employees throughout the health system will be cut and executives will take a 20% pay cut.
Monument Health attributes the decision to the rising costs of medical supplies, staffing, and, declining healthcare reimbursement rates.
A statement from the healthcare provider send to local media, read in part, “While we continue to provide a safe environment for all who seek care, we must also adapt our services and operational model to preserve our current and future mission.”
