The contribution is part of the public-private partnership between the American Hospital Association and the federal government.
HCA Healthcare announced a plan to provide up to 1,000 ventilators to combat the coronavirus disease 2019 (COVID-19) outbreak Thursday morning.
The Nashville-based for-profit hospital operator will provide ventilators as part of the Dynamic Ventilator Reserve, a public-private partnership between the American Hospital Association (AHA) and the federal government.
Providers will input available medical equipment into a database, be able to request access to the virtual inventory, and ventilators will then be distributed to hospitals facing an influx of COVID-19 patients. The effort will be managed by the AHA in coordination with the Federal Emergency Management Agency.
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On Tuesday, HCA CEO Sam Hazen spoke at the White House about the company's commitment to battling the pandemic during the launch of the Dynamic Ventilator Reserve.
"One of the guiding principles we had when we went into this COVID-19 battle was to find partnerships—partnerships with other components of the healthcare industry, partnerships with other health systems and partnerships with governments, both local and federal," Hazen said. "We’re proud to be part of this public-private sector partnership, and I think it’s going to do great good for the community."
Hazen's remarks came one week after he announced a pandemic pay program for HCA employees.
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Next week, HCA will release its Q1 2020 earnings report, which includes metrics largely achieved prior to the start of the pandemic.
According to HCA's most recently available earnings, the company finished 2019 with $51.3 billion in full-year revenues, an increase of nearly $5 billion year-over-year.
The company also reported that full-year net income slid from almost $3.7 billion to $3.5 billion, down $282 million.
Jack O'Brien is the Content Team Lead and Finance Editor at HealthLeaders, an HCPro brand.
Photo credit: KONSKIE, POLAND - December 01, 2018: Hospital Corporation of America (HCA) logo displayed on smartphone - Image / Editorial credit: Piotr Swat / Shutterstock.com