my hospital has been bought by vanguard

[Lasoniamacaroni]

so, the detroit medical center has been bought out by vanguard. Anyone have any experience or heard of experiences. I am know there is going to be lots of equipment bought, remodeling, blah blah. My concern is how will my time off be affected, my 401K, raises, staffing. I am thinking you can't be a "for profit" hospital without cuts all over the place.

Should I start looking for another job or wait it out and see what happends

[NoviceRN10]

I don't think anything is going to change except the front entrance to Hutzel/Harper . Oh, and the 403Bs will change to 401ks. I don't see why staffing, time off or raises would change? Still not going to get a decent raise no matter what!

[Lasoniamacaroni]

ha! that is a pretty nasty entrance isn't it? I just see them cutting back on benefits and medical costing us more etc....to boost their profits cause that's the name of the game...for profit hospital.

[shiccy]

If they were to cut medical benefits they'd not have very many employees.

Ditto for other items.

Typically when things like this are hammered out in the board rooms, these things are brought up. Especially since most if not all hospitals have CNO's now, the nursing staff are at least represented these days.

In short: Don't jump ship until you've given it a long hard go. You never know! You might LOVE the changes. It's also nice, from personal experience, to have nice new equipment.

Finally - your 401 is your 401. There's NOTHING they can do to change the funds you already have. They can change the funds your money in the future goes towards, but they have to give you the option (typically they can't dictate where your retirement funds go). If they change your employer matching, they have to tell you before they do. If you don't agree with the changes, then yes, the only thing you really can do is find a new place of work.