Budgeting
A positive side for Providence is its expanded virtual care offerings, which are expected to reach 1.4 million video visits by the end of the year.
Higher revenues through September were offset by rising expenses of 3.5% year-over-year, according to Kaufman Hall report.
Non-COVID-19 utilization is back to 95% of baseline, and, when coupled with the cost of COVID-19 care, overall utilization is above baseline.
The drop in admissions suggests revenue losses that may be difficult for some hospitals to weather.
Telehealth adoption under COVID-19 has provided a blueprint for wider implementation across ERs and other healthcare venues.
The Nebraska health system was able to keep financially afloat during the crisis without layoffs or furloughs.
The surging costs of tackling the pandemic are straining public hospital budgets, increasing the need for county support.
The announcements point to the company’s financial recovery from the pandemic.
Rural facilities tend to pay physicians more due to the difficulty in recruiting new talent to rural communities.
Even with increasing health plan costs, most employers say they have no plans to reduce costs in their medical plans for 2021.