As the health care industry works toward a new normal—a time of recovery and eventual re-emergence from the pandemic—providers are taking a hard look at their physical infrastructure and rethinking what they will need in the future. This rethinking has been prompted in no small part by the ... READ MORE >
Hospitals
Pandemic highlights the need for better use of data among health care providers
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 ... READ MORE >
Coronavirus update: The economic benefits of increased testing and tracing
As global cases of COVID-19 top 40 million and infections in the United States again breach 50,000 per day, the specter of a second wave in Europe and the United States hangs over the domestic economy. This points to significant economic scarring as the country heads into the final weeks of ... 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 ... 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 ... 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 ... READ MORE >
How health systems can manage the financial impact of the coronavirus
The effects of the coronavirus on health systems will be far-reaching and long-lasting. Beyond the impact on front-line staff and the disruption of having many employees work remotely, health systems are also seeing a cloud loom when it comes to their finances. To seek relief from these headwinds, the ... READ MORE >
The mounting toll of cyberattacks on rural hospitals
Rural health providers are increasingly under cyberattack. Enticed by valuable stores of health records and sometimes porous security, hackers infiltrate a hospital’s IT system and encrypt its data, making it unusable until the provider pays a ransom. If the hospital doesn’t pay up, the hackers can sell ... READ MORE >