Financial health: COVID-19’s dramatic impact on hospital and health systems
An analysis prepared by Kaufman, Hall & Associates, LLC and released by the American Hospital Association this week highlights the dire impact of COVID-19 on the financial health of hospitals and health systems. The analysis suggests that without further government support, margins could sink to -7% in the second half of 2020, with half of all hospitals operating in the red. Read
Arizona hospitals show and operating margin of 4.6%
Hospital financial survey results for May 2020 show an operating margin of $41 million or 4.6%. This is only part of the story as these figures include the recording of $43 million in federal funding from the CARES Act as operating income this month. Without this financial support, hospitals would have virtually broken even in May as a result of the dramatic decline in revenue following Executive Order 2020-10 resulting in an eight-week pause in elective procedures as well as a general public response to the pandemic which saw a reduction in hospital visits overall. Hospital discharges were down 8% for the month and ED visits were down by 29% compared to last year. View full report
Action Alert: Senate considering COVID-19 relief package
Before Congress leaves for its August recess, we are hopeful the Senate will take up an additional COVID-19 relief package in-line with the HEROES Act previously passed by the House. The AHA’s financial report emphasizes the immense financial strain facing hospitals and health systems due to COVID-19.
Now is the time to urge your U.S. senators to include necessary provisions in this legislative package. Click here to take action.
HHS shares details on post-payment reporting requirements for recipients of CARES Act Provider Relief funds
The Department of Health and Human Services (HHS) this week shared additional information on reporting requirements for recipients of provider relief funds authorized under the Coronavirus Aid, Relief and Economic Security (CARES) Act and Paycheck Protection Program and Health Care Enhancement Act.
Recipients who received one or more payments exceeding $10,000 in the aggregate from the Provider Relief Fund will be required to submit reports to HHS on how the funds have been expended using a portal HHS will open on October 1, 2020. Read
Join the AHA Age-Friendly Health Systems Action Community
American Hospital Association (AHA) is currently recruiting hospital teams to join the Age-Friendly Action Community, convening online this September. The Action Community is a free 7-month virtual collaborative designed for hospital-based teams, ambulatory care and long-term care facilities to test and implement the 4Ms Framework (Mobility, Mentation, Medication, and What Matters) and share learnings with their peers. Over 180 sites of care joined in the AHA’s first Action Community, and 75 sites achieved a level of age-friendly recognition. Read
August 12 - Introduction to POLST virtual workshop
The one-hour introduction to POLST workshop equips healthcare professionals with knowledge and resources to begin using POLST in Arizona. The objectives are to describe what POLST is at the state and national level, explain why POLST is important, define the population for POLST, when to begin the conversation and who completes POLST, describe the process for completing, reviewing and updating POLST, and learn the process of submitting healthcare planning documents to the Arizona Healthcare Directive Registry.