Wake Forest’s Epic Woes Continue With Slashed Worker Raises

Employees at financially troubled Wake Forest Baptist Medical Center can say goodbye to the hopes of a 1.5% merit-based raise, the Winston-Salem Journal reports.  After posting huge losses in the third quarter of their fiscal year this summer, totaling $62.8 million in operational shortfall, mainly attributed to their adoption of an Epic EHR system, the hospital is taking additional measures to keep as much money in its coffers as possible as it attempts to recover.

“As the financial challenges continue in health care, Wake Forest Baptist Medical Center has had to respond to revenue decreases caused by state budget reductions, lower Medicare payments and retention of supplemental funding through the provider assessment,” the hospital said in a statement.  “Despite achieving significant efficiencies in the last two years, the medical center feels the institution’s financial stability is best served by not implementing a 1.5 percent merit increase for employees.”