UNM Hospital announces pay raises and incentives for staff
ALBUQUERQUE, N.M. — UNM Hospital officials announced they are going to give employees a pay raise for the first time since July of 2023.
“For the first time in many months, UNM Hospital has a positive financial margin,” said Kate Becker, UNM Hospital CEO.
Becker says the hospital system is receiving some much-needed federal money.
“Last month, FEMA approved some of our longstanding claims for COVID-related expenses,” Becker said. “These claims have been pending for a little over two years now.”
Becker also added the hospital received money for Medicaid reimbursements after requests from the New Mexico Human Services Department.
Now long-awaited pay raises are on the way.
“We’re happy to report that we’ve concluded work with our union partners at UNM Hospital Lomas campus to do this, and we are in active conversation with unions at the SRMC campus to do the same here,” Becker said.
These new raises will include UNMH’s latest acquisition, the Sandoval Regional Medical Center. As of the first of the year, it’s now a part of the UNM Hospital network.
“This is such a positive change for SRMC, we’re able to bring about new educational opportunities for learners here at the campus, we’re also able to standardize a lot of patient care activities for patients that are moving between the two campuses,” said Jamie Silva-Steele, CEO of UNM SRMC.
All current UNMH staff will receive, on average, a 3% raise. There will also be a $600 retention incentive to be paid out sometime in mid-February.
Becker said the hospital has been waiting on the FEMA funds for two years, totaling to about $48 million.
“At the end of November, UNM Hospital was running at about a $24 million negative margin, so we’re very grateful to have that investment to help us build back our margin and reinvest in our staff,” Becker said.
Beck said the pay raises are only for permanent employees and do not include travel staff who are on temporary contracts.