The 573-bed hospital reported a 6 percent year-over-year decline in emergency department visits in 2020, leading to a revenue drop of $1.5 million, according to Buffalo Business First.
Canceled elective surgeries took a bigger financial toll on the hospital. The suspension of elective procedures last year led to nearly 2,700 canceled surgeries and $34 million in lost revenue, according to the report.
“It is a financial hit for us to have less visits, but the more severe financial hit was lack of surgeries, that is the heart financially of the organization,” Erie County Medical Center President CEO Thomas Quatroche Jr., PhD, told Buffalo Business First.
Read the full Buffalo Business First article here.
More articles on healthcare finance:
Billionaire unloads $42M of CHS shares
Why rural hospital closures hit a record high in 2020
Major health systems report $1B+ annual profits
