Cleveland Clinic cutting 2014 budget by $330 million

CLEVELAND - The Cleveland Clinic announced Wednesday morning that they will be cutting $330 million from their 2014 budget.

"This is a process and the Cleveland Clinic is focused on driving a more efficient healthcare system. The goal is to make healthcare more affordable [and] efficient to patients," Cleveland Clinic spokeswoman Eileen Sheil said.

The Cleveland Clinic acknowledges that there will be a reduction in the workforce, however the numbers are unknown at this time.

Shiel said this is "not unique to the Cleveland Clinic" and that it is "happening to hospitals across the nation."

Cleveland Clinic released the following written statement:

"To prepare for healthcare reform, Cleveland Clinic is transforming the way care is delivered to patients. Over the past several years, we have had an ongoing focus on driving efficiencies, lowering costs, reducing duplication in services and enhancing quality to make healthcare affordable to patients.

Although we have made progress, we need to further reduce costs to the organization by $330 million in 2014.  We are carefully evaluating all aspects of our system to accomplish this. Some of the initiatives include offering early retirement to 3,000 eligible employees, reducing operational costs, stricter review of filling vacant positions, and lastly workforce reductions.

Through these changing times, we are focused on providing the highest quality of care to our patients in the most efficient and cost-effective manner."

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