The coronavirus pandemic has presented a host of challenges for health care providers as they have dealt with a significant downturn in their business. But now, as a vaccine is rolled out and providers prepare for the new normal of life after the pandemic, there are opportunities as well. One way to capitalize on these opportunities is through better ... READ MORE >
The changing landscape of pandemic relief for health care providers
In March, President Trump signed into law the Coronavirus Aid, Relief and Economic Security Act, which included $100 billion to help health care providers make it through a significant downturn. So acute was the downturn for hospitals that Congress later approved an additional $75 billion to the segment of the CARES Act earmarked for health care providers, ... READ MORE >
Managed care organizations weather the coronavirus storm
It’s no mystery that major parts of the health care sector took a significant hit to the bottom line this year as hospitals and other providers postponed elective procedures to make way for the influx of coronavirus patients. But one area of the health care sector -- managed care organizations -- has weathered the storm quite well. Generally, many managed ... READ MORE >
As coronavirus spreads across the nation, aid to hospitals lags
As Congress debates a new round of stimulus measures to blunt the human and economic toll of the coronavirus, it has an opportunity to rethink the way it supports those who are working on the front lines of the pandemic: health care providers. In recent weeks, the scope and severity of the pandemic have changed dramatically, spreading beyond ... READ MORE >
Businesses already strained by COVID-19 should prepare for hurricane season
The Atlantic hurricane season is already off to a busy start, with six named storms having formed as of early July. And it is likely to get worse. The National Oceanic and Atmospheric Administration predicts a 70% chance that this hurricane season will be worse than normal, with just a 10% chance of being less damaging than normal. Anywhere from 13 to ... READ MORE >
How hospitals can prepare for new price transparency rules
A recent court ruling has given the Trump administration a major victory in its push for transparency in health care pricing, and has left many health care providers scrambling to meet new requirements. While the burdens of meeting the requirements are high, in the end they represent an opportunity for health care providers to separate themselves from the ... READ MORE >
After suffering losses, health care providers could face a reckoning on debt covenants
Few industries have felt as big an impact from the coronavirus pandemic as health care providers – not only from the risks taken on by front-line medical workers but also because of the significant disruption of their operations. On June 30, there will be a reckoning of sorts. That’s when the quarterly financial results from many health care providers ... READ MORE >
New relief is approved for hospitals, but challenges remain
Over the past few weeks, we have been reaching out to our clients as well as hosting several virtual CFO Forums. Through those interactions, our clients in the health care sector have been painting a grim picture of the financial effects of the coronavirus. As patients infected with the virus have flooded into hospitals, health care providers have ... READ MORE >
Some hospitals could be left out as second round of Provider Relief Fund is distributed
The $2.2 trillion CARES Act was passed to provide a range of financial assistance to Americans and businesses struggling with the economic fallout from the coronavirus. Included in this package was the $100 billion Provider Relief Fund to help America’s ailing health care sector. But not all hospitals benefited equally when the initial $30 billion of ... READ MORE >
How health care systems, dependent on outsourcing, can adjust to India’s stay-at-home order
India’s prime minister, Narendra Modi, recently ordered the country's 1.3 billion residents to stay at home for the next three weeks. While many Americans have been working from home for a few weeks and some have experienced minimal or limited productivity changes, it’s a different story in India, and this is having implications far beyond India’s ... READ MORE >