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

Biofilm 'Life Raft' Changes C. Auris Risk

Microscopic survival structure protects fungal pathogen from disinfectants and help it survive for long periods.


How Healthcare Restrooms Are Rethinking Water Efficiency

Manufacturers discuss strategies, technologies and design approaches that help healthcare facilities meet their sustainability goals.


Northwell Health Finds Energy Savings in Steam Systems

Case study: A proactive steam trap maintenance program is delivering millions in savings, fast payback and measurable carbon reductions across one of the nation’s largest health systems.


The Difference Between Cleaning, Sanitizing and Disinfecting

Cleaning methods and products have various purposes in reducing the spread of germs.


Jupiter Medical Center Falls Victim to Third-Party Data Breach

The third party has determined through an investigation that, at least as early as January 22, 2025, an unauthorized third party gained access to personal health information on legacy systems.


 
 


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.