Wealthy hospitals have a cushion to weather coronavirus crisis that safety-net facilities don’t

Cancellations of nonessential surgeries come with the coronavirus patients


Inova Health System, located  in some of the wealthiest suburbs of Washington, D.C., and Truman Medical Centers, a safety-net hospital in downtown Kansas City, Missouri, are confronting the same financial issues, according to an article on the Kaiser Health News website.

But Truman has less than a month’s worth of cash reserves  while Inova has enough money to operate for at least 21 months.

“At the end of the day, not all hospitals are created equal,” Charlie Shields, Truman’s president and CEO, said in the article. “If you were sitting on a year of … cash on hand, that would not be as challenging, but most safety-net hospitals are south of 25 days, and we’re probably around 10. How do you manage through that?”

However,  Dr. J. Stephen Jones, Inova’s president and CEO, said, “Our finances are a mess at this point,” with the system postponing non-urgent treatments and eliminating 427 administration and management positions. “This is an existential threat to every health care organization, no matter how strong they come into it,” said Jones, who cut his own salary by 25%.

Read the article.



May 14, 2020


Topic Area: Maintenance and Operations


Recent Posts

5 Reasons Engineering is the Edge in Healthcare Master Planning

The most successful plans go further to unlock smarter investments, improve resilience and enable better patient outcomes.


Building an AI-Ready Healthcare Facility 

Creating a secure, standardized data foundation can help facilities teams put AI to work more effectively.


Family Medical Associates of Raleigh Reports April 2026 Data Breach

The investigation has found evidence that between April 18, 2026, and April 20, 2026, an unauthorized actor intermittently accessed some FMAR systems.


Every Detail Matters: A Patient's Story of Healing, Hope and Healthcare Facilities

In the Facilities in Focus season finale, 11-year-old Kendalynn and her mother share how Intermountain Primary Children’s Hospital became more than a place for care.


Geisinger Wyoming Valley Medical Center Tops Off New 11-Story Tower

The expansion will improve the patient experience by transitioning the hospital to all private patient rooms while significantly increasing clinical capacity.


 
 


FREE Newsletter Signup Form

News & Updates | Webcast Alerts
Building Technologies | & More!

 
 
 


All fields are required. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

 
 
 
 

Healthcare Facilities Today membership includes free email newsletters from our facility-industry brands.

Facebook   Twitter   LinkedIn   Posts

Copyright © 2023 TradePress. All rights reserved.