LHSC announces budget strategies for fiscal 2019/2020

MEDIA RELEASE

For Immediate Release:
June 4, 2019
 

LONDON, Ontario – Today, London Health Sciences Centre (LHSC) announced its fiscal 2019/2020 budget plans. Guided by LHSC’s Strategic Plan, the budget will include investments in patient access and flow improvement, clinical imaging, electronic health information, and facilities infrastructure.

LHSC ended the fiscal year 2018/19 with a $24 million deficit and for fiscal 2019/20 LHSC will need to realize additional savings of approximately $28 million - or 2 per cent from its $1.2 billion total budget in 2019/20.

The budget plans will see a reduction in staff hours worked equivalent to 165 full-time positions across all levels of the organization (1.6% of LHSC’s workforce). The goal is to mitigate the impact on staff by managing any necessary reductions through temporary hiring freezes of non-clinical staff, natural attrition, and non-union voluntary exits. The exact number of layoffs, if there are any, will not be known for some time due to mitigation strategies.

“As we look to the future and consider inflationary pressures, our current fiscal performance, and our strategic investment plan, I am confident that the savings strategies we are implementing will ensure we continue to deliver excellent patient care and maintain financial sustainability”, said Dr. Paul Woods, President and CEO, London Health Sciences Centre.

In addition, all departments in the hospital were asked to identify saving strategies equal to 2.0 to 2.5% of their budget. The remaining cost reduction plans will result from efficiency gains in clinical operations, such as new models of care and standardization.

“This budget will also help align our efforts to support the government’s health-care transformation as we seek to partner with other providers in the health system to meet the care needs of those in our community and region,” adds Dr. Woods.

Dr. Paul Woods, LHSC President and CEO, and Neil Johnson, LHSC Chief Business Operations Officer will be available for media interviews from 11:00 am to 12:30 pm.

About London Health Sciences Centre
London Health Sciences Centre has been at the forefront of medicine in Canada for 144 years and offers the broadest range of specialized clinical services in Ontario. Building on the traditions of its founding hospitals to provide compassionate care in an academic teaching setting, London Health Sciences Centre is home to Children’s Hospital, University Hospital, Victoria Hospital, the Kidney Care Centre, two family medical centres, and two research institutes – Children’s Health Research Institute and Lawson Health Research Institute. As a leader in medical discovery and health research, London Health Sciences Centre has a history of over 70 international and national firsts and attracts top clinicians and researchers from around the world. As a regional referral centre, London Health Sciences Centre cares for the most medically complex patients including critically injured adults and children in southwestern Ontario and beyond. The hospital’s nearly 15,000 staff, physicians, students and volunteers provide care for more than one million patient visits a year. For more information visit www.lhsc.on.ca

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For media inquiries contact:
Marek Kubow
Corporate Communications and Public Relations
London Health Sciences Centre
519-685-8500, ext. 75155
Marek.Kubow@lhsc.on.ca

After-hours assistance:
Call LHSC Switchboard at 519-685-8500 and ask to page the communicator on-call