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Hospitals Could Loose Billions
5/21/2020
 
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A state agency predicts Pennsylvania's hospitals will lose billions of dollars this year due to the Coronavirus.

The Hospital and Healthsystem Association of Pennsylvania projects hospitals will lose a combined $10.2 billion in revenue this year. Officials from the local hospitals we spoke to are confident they will be able to overcome the financial setbacks, but the association is concerned that won't be the case for all facilities.

Tim Harcleroad, CEO of Conemaugh Nason and Conemaugh Miners says loss projections from the Hospital and Healthsystem Association of Pennsylvania, are accurate.

He says volume is down as at both hospital facilities, calling this year�s financial outlook bleak. Harcleroad and Anna Anna, the CEO of Tyrone hospital say the biggest financial loss stems from the suspension of elective procedures and routine health services.

While hospitals are conducting those procedures again in yellow phase counties, Anna and Harcleroad say they are starting up slowly.

Another big hit for smaller hospitals, purchasing the necessary personal protective equipment and supplies to protect against the virus.

Harcleroad says his facilities prepared for an influx of Coronavirus patients, one that never came.

He says neither hospital has treated a single COVID-19 positive patient.

Anna said the same is true for Tyrone hospital, but they are still trying to build up supplies to be better prepared for the potential of an outbreak in the fall.

While HAP says some larger facilities are losing money paying employees for high amounts of overtime, Harcleroad says fewer people are coming into the hospitals emergency departments so they're flexing staff schedules and encouraging them to use paid time off.

Anna says she fears patients are hesitant to come to the hospital for procedures, but she assures them the facilities are clean and safe.

As for larger hospitals, representatives from UPMC Altoona, a facility that employs close to 2,300 says the hospitals finances are only reported in conjunction with the overall UPMC healthcare system. They say the first quarter financial results for the entire system will be released Late next week.
  
 
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