Ernst & Young

Edward-Elmhurst Health to cut $35 million from upcoming budget, unrelated to mammoth accounting error

Edward-Elmhurst Health to cut $35 million from upcoming budget, unrelated to mammoth accounting error

Edward-Elmhurst Health plans to slash $35 million from its upcoming budget, piling on cost reductions just a few months after the company announced another $50 million cut that resulted in layoffs.

Jeff Friant, interim chief financial officer at the west suburban hospital system, revealed the plans for the budget tightening during a call Friday with investors to explain a recent mammoth accounting misstep that overestimated the company’s revenues by more than $90 million.

The $35 million reduction is unrelated to the accounting error, company spokesman Keith Hartenberger said. What will be cut will be determined during the budgeting process for the fiscal year that begins...

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