COVID-19 financial hit could reach 'nine figures,' Ballad Health says

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Johnson City, Tenn.-based Ballad Health is warning that the financial hit to the system from COVID-19 could reach "nine figures" in 90 days, according to local news station WCYB.

Ballad Health said the expected financial hit is a result of hospital volumes being down 40 percent and nonemergent procedures being canceled. Ballad Health postponed all nonessential procedures last week. 

To address the financial hit, Ballad Health CEO Alan Levine said "all options are on the table," including temporary workforce reductions and layoffs. 

"We have to preserve these hospitals, and we have to preserve our capacity to provide services," Mr. Levinet told WCYB.

More articles on healthcare finance:
'This is going to be the death blow': Coronavirus threatens to shut hundreds of rural hospitals
Northwell Health delays bill payments for patients affected by COVID-19
Pennsylvania hospital furloughs employees not directly caring for patients


 

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