Although they’re coping with lost revenue during the pandemic like other health care businesses across the country, Utah’s largest hospital systems say they’ve avoided resorting to layoffs and large pay cuts.
In the years before coronavirus began stressing America’s health-care system, Leonard Green & Partners LP extracted more than half a billion dollars in debt-funded dividends from its hospital venture, Prospect Medical Holdings Inc.
The University of Pennsylvania Health System has sustained massive financial losses since the coronavirus pandemic took hold in March. UPHS, which operates six hospitals and ten multi-specialty centers, expects a $317 million loss in operating revenue by June 30, The Philadelphia Inquirer reported. This loss does not include the $190 million in federal aid given to Penn's hospitals by the United States Department of Health and Human Services.
A new survey of physician practices in Massachusetts finds a startling number of them in financial trouble due to the coronavirus crisis, in which potential patients are staying home.
Shares of Moderna Inc. were up 1.9% in premarket trading on Thursday after the company said it has finalized the Phase 3 study protocol for its COVID-19 vaccine candidate. However, the Phase 2 trial, which began dosing patients less than two weeks ago, has not been completed.