Assure Holdings to cut pay, reduce staff as part of 'profitability' plan


Assure Holdings, an intraoperative neuromonitoring provider, plans to cut pay and reduce staff to improve its profits, WDRB reported Feb. 9. 

The plan is expected to save the organization over $2 million annually, with pay cuts amounting to $1 million and staff reduction also estimated to save $1 million. It will directly benefit Assure's cost of delivery by increasing the gross margin for each surgery, according to the news outlet. 

The company's plan will also eliminate legacy revenue sharing agreements under the historic master services agreement and professional network entities. It will now receive all revenue from a professional's bill and has terminated over half of these agreements. 

Assure is seeking to achieve its profit goal by the end of the first financial quarter.

In 2022, the company completed a $4 million reduction in workforce comprised of salary reductions and limiting the use of outside consultants, rationalized its operational footprint by withdrawing from low-performing markets, invested in revenue cycle management to accelerate cash collections, prioritized growth in markets with substantial existing operational density and continues to hunt for opportunistic acquisitions and leverage its business scale, according to WDRB.

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