Dr. Raj Raina, president, CEO, and owner of Medical Associates, based in Hauppauge, has been taking care of patients — and his practice. A primary care doctor who runs the six-site, multispecialty practice, he has kept Medical Associates’ doctors, nurses, and staff busy treating COVID-19 patients as he puts his own pay on pause. And he’s not alone among doctors in private practice on Long Island who are making sacrifices to keep their doors open.
Hospitals across the United States are facing financial ruin. As coronavirus spreads across rural America, many struggling hospitals are seeing a massive loss of revenue after they were forced to cancel profitable elective procedures. At the same time, many of those same facilities are in urgent need of pricey ventilators to keep their Covid-19 patients alive.
In its rush to offer a lifeline to U.S. health care providers struggling under the crushing financial impact of the Covid-19 crisis, the federal government has unleashed a provider relief package that may do more harm than good.
The nation’s medical centers were forced to stop offering many surgeries, and sustained severe financial losses. Reopening is a daunting task amid the threat of more infection.
Small hospitals going through bankruptcy are suing the Small Business Administration, arguing it is unlawful for the federal government to deny them loans under the Paycheck Protection Program. Why it matters: Allowing bankrupt hospitals access to PPP loans could keep their doors open, and could force the federal government to reverse its stance and allow other bankrupt firms to get PPP loans.
CVS Health remains on target to expand its new health hub concept to 1,500 stores across the U.S. within the next two years despite the spread of the coronavirus strain COVID-19.