Memorial Hermann losing 3 more executives
- Houston-based Memorial Hermann Health System is losing three more executives, Houston Business Journal reported.
- Dennis Laraway, CFO of Memorial Hermann since 2011, has been hired by Banner Health to be its CFO starting Sept. 29. Christopher Lloyd, CEO of the nonprofit health system’s physician network, and Jim Garman, chief human resources officer, will also be leaving though their next steps are not known, according to Healthcare Finance News.
- The departures follow last month’s announcement that Memorial Hermann’s west region president, Craig Cordola, was leaving to become SVP of St. Louis-based Ascension Healthcare and ministry market executive of Ascension Texas. CEO Dr. Benjamin Chu resigned in June after serving at the organization for less than a year.
Memorial Hermann, Houston’s largest nonprofit health system, has seen a number of staff upheavals this year. While Laraway’s and Cordola’s departure appear to be the result of other healthcare organization’s luring away top talent, the others could be signs of difficult times as hospitals across the country adjust to the “new normal” of tighter reimbursement.
In June, Memorial Hermann interim President Chuck Stokes laid off 350 of its 25,000-employee workforce, citing escalating costs, shrinking reimbursements and a weakened local economy. The system had already cut 112 employees in January. Stokes has insisted the system is profitable and the cuts won’t affect patient care.
Other healthcare organizations that have announced layoffs or consolidation of services include Hallmark Health, Lawrence Memorial Hospital in Medford, Mass., and Cape Cod Healthcare. The latter is letting 55 employees go after Quest Diagnostics acquired its outreach lab services business.
Last week, Charleston Area Medical Center Health Systems said it will eliminate 300 positions by the end of the year as it closes or realigns several of its programs, including a heart health program and pulmonary rehab program.
- Houston Business Journal More Memorial Hermann execs to depart
- Healthcare Finance News Banner Health names Memorial Hermann CFO as new chief financial officer