The COVID-19 pandemic has taken a toll on many aspects of our lives. It’s killed more than 300,000 people around the world. It’s taken away jobs, canceled events, and closed businesses. But it’s also wreaking havoc on hospitals. The Hospital and Healthsystem Association of Pennsylvania, or HAP, says hospitals across Pennsylvania are facing a projected loss of 10.2 billion dollars due to the Coronavirus pandemic.
So far, the riches are flowing in large part to hospitals that had already built up deep financial reserves to help them withstand an economic storm. Smaller, poorer hospitals are receiving tiny amounts of federal aid by comparison.
They prepared for the worst and hoped for the best, and that was exactly what they got. That's what Maureen Tarrant said about Presbyterian St. Luke's Medical Center and Rocky Mountain Hospital for Children's preparations during the novel coronavirus outbreak. Tarrant has been the CEO of the hospitals since 2014.
The federal government gave more than $121 thousand in coronavirus relief money to the Jamestown Regional Medical Center, a hospital that has been closed since June 2019. The Department of Health and Human Services says the hospital received $121,722 from its provider relief fund.
While big hospitals in places such as New York City, Detroit and New Orleans have been overwhelmed with a massive surge of COVID-19 cases, Williamson Memorial is one of hundreds of rural hospitals across the nation that have suffered from an altogether different crisis: a massive drop in patients.
Managed-care stocks are looking healthier again. Humana stock, One Medical stock, UnitedHealth stock, Centene stock and Cigna stock are your stocks to watch this weekend. Humana, fueled by Medicare Advantage growth, moved into buy range on Thursday and built on those gains Friday. Ditto for One Medical stock, though it's now extended from its IPO base. San Francisco-based 1Life HealthCare, which operates One Medical clinics, reported impressive membership trends late Wednesday.