Pros
Paid Time Off has never been an issue for me. I have 25 days a year and can generally use them when I want. In addition I get 11 or more paid holidays off and perhaps one of the best perks is that the corporate office is closed during the week between Christmas and New Year's. My work-life balance has changed somewhat since the Vanguard Health Systems acquisition in the fall of 2013.
Cons
I still have a lot of flexibility in terms of work hours and telecommuting. Sometimes it feels like I work in more of a matrix organizational structure, which means getting pulled in several competing directions. This provides exposure to different areas of the business (=PRO), but can mean that managing projects and expectations can be difficult (=CON). There also tends to be a lack of communication and positive feedback. This tends to mean that decisions by management and steering committees often do not happen or when they do, they tend to result in rework.