I came across yet another outbreak of sickening greed pouring out of America's corporate executive suites during today's raging health crisis. What made this one especially nauseating was that the perpetrators are honchos of major healthcare corporations!
While many hospitals have struggled financially during the pandemic, few have struggled more than hospitals in rural areas. Yet if many rural hospitals close this year, COVID-19 will be only one straw that broke the camel’s back. “For the last 20 years, rural hospitals have been struggling. That’s kind of who they are,” said Alan Morgan, CEO of the National Rural Health Association.
Third-party surgical assistants aren't part of a hospital staff or a surgeon's practice. They tend to stay out-of-network with health plans, either accepting what a health plan will pay them or billing the patient directly. That, in turn, is leading to many surprise bills.
WHEELING – Wheeling Hospital will begin reducing its staff and plans other cost-cutting measures after the medical center lost nearly $30 million over the past two years, hospital officials said.
Wheeling Hospital will begin reducing its staff and plans other cost-cutting measures after the medical center lost nearly $30 million over the past two years, hospital officials announced Tuesday. In addition to offering buyouts for the staff, hospital officials said they will institute voluntary salary reductions for administrative staff and physicians, and temporarily stop matching employee retirement funds. Hospital officials added layoffs are possible if operating expenses are not reduced enough.
Back in March, when COVID-19 was just starting to crest, hospitals took steps to brace for a potential surge of patients. But while COVID-19 surged, revenues slowed to a trickle. “Early on, we realized we needed to build capacity for a surge of patients so we didn’t get overwhelmed like they did in New York City, so we shut things down early in March — which blew a hole in everybody’s finances,” said Mark Keroack, president and CEO of Baystate Health.