Saturday, April 18, 2020

Covid-19 Casualty: Hospitals

Hospitals are hemorrhaging millions of dollars thanks to the Covid-19 virus.   What is taking place at the Ochsner health system in New Orleans is being replicated in hospitals across the country.  The Times-Picayune reported:

Ochsner Chief Executive Warner Thomas told employees Friday in an email and video message that the number of patients across the health care provider's hospitals and clinics has fallen by as much as 70%, pushing the nonprofit's revenue lower by up to an expected $130 million in March and April alone. At the same time, costs for personal protective equipment, lab work and additional beds have risen.

 "Certainly the fact that we've had to cancel elective surgeries, cancel many of the things we do in our clinics, has created a significant shortfall for us economically," Thomas said in a video message to staff...

On Friday, LCMC Health, which operates five hospitals in New Orleans, also acknowledged losses and said Children's Hospital New Orleans has seen a drop of about 50% in overall business. The company does not have plans to furlough employees, citing an expectation that non-emergent services would pick back up at some point.

Tulane Health System, which is majority owned by hospital giant HCA Health Care, did not answer questions about financial losses, staff furlough or surgery volume, though a spokesperson acknowledge it was lower.

Gerald Parton, CEO of East Jefferson General Hospital in Metairie, said the hospital's losses related to coronavirus and treating COVID patients in March alone likely were in the $4 to $5 million range... Rest of article.
So how are the hospital balance sheets in Mississippi? 

14 comments:

Anonymous said...

The closing line in the article "I do not think the patient or the community should worry about the financial viability of the local hospital," said Bai. "There will be more bailouts." reminds one of the classic "I'm from the Government, and I'm here to help you" line. All that is missing is "the check is in the mail" and we all know the other line. But seriously, this is a direct result of a series of panic driven decisions made by EVERYONE in a position to make decisions. Blame is not being cast - just honest facts. Information and projections provided by the World Health Organization and the CDC, as well as everyone who claimed to be an "expert" predicted the medical system would be overwhelmed by the hundreds of thousands of COVID patients requiring hospital beds and ventilators that did not exist, and since EVERYONE in authority believed the "chicken little" theory, the hospitals were told to cease all elective services. It goes without saying that NO ONE in authority gave a thought to what effect these decision would have on the country's hospitals. Of course, fortunately as it turns out, there are empty hospital beds everywhere (maybe NY is an exception) and no one has run out of ventilators. Now it is time to pay the piper, but our elected "leaders" can't seem to pass a bill that would make the medical system "whole" as a result of their fuck up without getting into arguments (not debates) over spending that has absolutely nothing to do with the COVID problem. I hope Mr. Bai is correct that the local hospitals have nothing to worry about, but these hospitals need the money sooner than later.

Anonymous said...

Tate Reeves should have re-opened elective surgeries one week after he shut them down on April 3.

There was never a time that any hospital in Mississippi was overwhelmed with Covid patients.

Power corrupts.

Anonymous said...

Bailout money should, first and foremost, go to individuals so that they can pay for food, utilities, mortgages, etc. The truly "essential" services. Call it "trickle up" economics. Next in line should be non-profit healthcare, small businesses and other essential services that have seen demand collapse, temporarily, due to our efforts to slow the spread of the virus. The next should be essential government workers (there are actually lots of these who make our lives better in unseen ways every day - police, fire, pandemic response planners...). Skip ahead to about number 200 on the list and you get to the only entities currently getting paid with a fully funded bailout that is completely forgivable. Hedge funds, fossil fuel and some of this administration's favorite pets. We are getting royally, joyously, unrepentantly screwed. Again.



Pappy Odaniel said...

@11:44 you are absolutely right. This isn’t the virus but disproportional mitigation dictates that were mindlessly rolled out from fear and panic. It’s also coupled with the flippant though process from politicians of “oh, we’ll just cut you a check and give you a bailout like everyone else”. Another component of this is that this response has been a complete Guns of August scenario. The politicians and emergency managers have been doing exercises for a pandemic annually or more every year for the last decade. They already knew all the right answers. The plan says you watch the numbers, the numbers go up, you lock people down, the numbers go down and you call it a night. It’s just us pissants with our businesses and lives and “rights” don’t understand.

Anonymous said...

I shudder to imagine what hospitals will 'do with' a cash infusion of tax money from the gubment. They'll be like a barrel of school superintendents after a tax increase - Tahoe for everybody.

Anonymous said...

@8:35 there are no words to describe your ignorance. Every community needs their hospital. But you will be given a pass on your stupidity if you will produce the facts to support your position.

Anonymous said...

Tate and Thomas both duped the surgeon's as well as all the anesthesiologist in this state. This has absolutely confirmed that tate nor Thomas has a clue about the COVID 19 situation in our state. If anything the surgeons and anesthesiologist need to bailout. It's numbing to actually believe tate has shuttered our business this long. Some in my ortho group claim he will likely extend the non essential case mandate through mid may. If he does that then watch out we will raise holy hell on his sorry good ole boy ass. He's incompetent.

For-profit health care said...

Wah

Anonymous said...

The basis of the problem is that we turned a profession, medicine , into a business.
Any doctor should be able to set a simple fracture. Indeed, my pediatrician set my broken wrist with no problem.
Using the " business" models , also created a new class of middle men, when once, the hospitals could all buy direct from the manufacturer.
Indeed, we've seen that a middle business bought PPE from Dupont at $4 and sold it for $7. Which was NOT related to costs of distribution ( despite attempts to mislead) as Dupont had to distribute to the supplier's outlets.
Teaching hospitals can separately contract for medicines, but small hospitals cannot so their costs are higher.
Business is about profit. Medicine is a critical element for any society, just like utilities are, because we need a healthy workforce.
Greed is destroying our democratic republic and capitalism as it was intended. We aren't making "better mousetraps". We are re-packaging and painting old mousetraps and selling them for more as if they were " new and improved".


Anonymous said...

Every community needs their hospital.

And you complain about the supposed ignorance of others.

Anonymous said...

10:31 "Greed is destroying our democratic republic and capitalism as it was intended." You must live on another planet. Greed is the fuel of our economic system and always was. Without it capitalism is meaningless. We must hope that we have the moral fiber to control it. Apparently we do not.
Even if we were socialist we would still need moral will to control those who would control us. No matter how important it might be, medicine is just one more commodity to be bought and sold subject to the same "greed" as everything else. Sorry,

Anonymous said...

2:39 AM, I know that now at 12:30 pm it is probably your bedtime, but please, when you get back up and listen to the whackos on the radio in the middle of the night - please enlighten us as to those few that are getting benefits from the bailouts in the "hedge funds, fossil fuels, and pet projects" categories that you claim.

Once you realize you cannot point out any of the above with specifics, STFU

Anonymous said...

The Fed has been pouring "liquidity" into the investment banks since 2007 and and the Fed's generosity has been astronomically greater in the past 3 years 12:53. Do you have a clue who is profiting from that generosity? And do you have a clue as to who will be paying the bill for that generosity in the future? Certainly not those whose incomes are from capital gains. No, the generosity to the wealthy speculators that continues will be paid for by people who actually work for a pay check.

Anonymous said...

Does anyone know how this is going to affect Rush Health Systems that they Bought/merged in East Mississippi/west Alabama...the largest Rush facility is in Meridian....

From Meridian Star, Sept 2019

Rush Health Systems
Rush Health Systems is the largest, most diverse healthcare system in East Mississippi and West Alabama.

Rush Health Systems is comprised of 7 hospitals and 23 primary care clinics, with 250 staff and contracted physicians and 95 advanced-practice providers. Rush is the largest non-governmental employer in the region.

Rush Health Systems includes Rush Foundation Hospital in Meridian; The Specialty Hospital of Meridian in Meridian; Medical Foundation, Inc., Laird Hospital in Union; H.C. Watkins Memorial Hospital in Quitman; Scott Regional Hospital in Morton; John C. Stennis Memorial Hospital in DeKalb and Choctaw General Hospital in Butler, Alabama.

From 2017...Rush Health Systems to cut more than 100 workers

From CL, March 2019...The Magnolia State has more rural hospitals at "high financial risk" — 31 — than any other state in the country.

Navigant's list of Mississippi rural hospitals at high financial risk, broken down by how critical Navigant deems the hospital to the community:

Critically essential at-risk hospitals
Bolivar Medical Center in Cleveland
Field Health System in Centreville
Franklin County Memorial Hospital in Meadville
Merit Health in Natchez
UMMC Grenada in Grenada
Wayne General Hospital in Waynesboro
Moderately essential at-risk hospitals
Choctaw Health Center in Choctaw
Clariborne County Medical Center in Port Gibson
Gilmore Memorial Hospital in Amory
Lackey Memorial Hospital in Forest
Marion General Hospital in Columbia
North Mississippi Medical Center in Eupora
North Mississippi Medical Center in West Point
North Sunflower Medical Center in Ruleville
Rush Foundation Hospital in Meridian
South Sunflower County Hospital in Indianola
Stone County Hospital in Wiggins
Tallahatchie Critical Access Hospital in Charleston
UMMC Holmes County in Lexington

Less essential at-risk hospitals
Baptist Medical Center Leake in Carthage
Beacham Memorial Hospital in Magnolia
HC Watkins Memorial Hospital in Quitman
Highland Community Hospital in Picayune
Jefferson Davis Community Hospital in Prentiss
Laird Hospital in Union
Lawrence County Hospital Monticello
North Mississippi Medical Center in Iuka
North Mississippi Medical Center in Pontotoc
Pearl River County Hospital in Poplarville
Trace Regional Hospital in Houston
Walthall County General Hospital in Tylertown

How the list was determined
Navigant identified 64 rural hospitals in Mississippi, then looked at how much money they were bringing in, how much cash they had, and whether they had too much debt. Navigant also determined whether a rural hospital was critically essential, moderately essential or less essential to its community.

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Trollfest '09 is a pet-friendly event as well. Feel free to bring your dog with you and do not worry if your pet gets hungry, as employees of the Jackson Zoo will be on hand to provide some of their animals as food when it gets to be feeding time for your little loved one.

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If you get tired come relax at the Fox News Tent. To gain admittance to the VIP section, bring either your Republican Party ID card or a Rebel Flag. Bringing both will entitle you to free drinks.Get your tickets now. Since this is an event for trolls, no ID is required, just bring the hate. Bring the family, Trollfest '07 is for EVERYONE!!!

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