MEDFORD, Ore. – Both Providence and Asante are losing millions of dollars in revenue during the fight against COVID-19.
“COVID-19 is causing us to have a severe reduction in revenue of about $25 million a month,” said Scott Kelly, President and CEO of Asante Health System, “we’re seeing 33-50% decrease in volumes.”
It’s not just Asante, Providence says across their seven-state system of 51 hospitals and more than 1,000 clinics, their gross revenue is down 40%.
“The elective procedures are a big part of it,” said Kelly, “but we’re also seeing some increased expenses.”
Those expenses include additional testing, collections sites and switching from personal visits to virtual visits for patients.
While some hospitals around the nation have had to lay-off employees, Asante says they haven’t reached that point.
“We're fortunate we've got a really strong balance sheet,” said Kelly, “we have protected the pay of our employees in March and April and we're looking to extend that through May."
Early this week Senators Wyden and Merkley announced another round of funding for hospitals through the CARES Act but Asante says they’re seeing very little of that money. The money they are receiving will go to Ashland and Grants Pass hospitals.