U of Mississippi Medical Center predicts $150M loss

The University of Mississippi Medical Center in Jackson is expecting to see $150 million in revenue losses by December, according to the Mississippi Clarion Ledger.

In a May 19 meeting with the state Senate Public Health and Welfare Committee, LouAnn Woodward, MD, the vice chancellor for health affairs at UMMC, said the hospital's revenue loss is a moving target and could change if more government funding comes through. However, if the revenue isn't replenished, Dr. Woodward said reductions in staff may take place. The hospital doesn't plan to cut services.

The Mississippi Hospital Association is predicting that statewide, hospitals may need another $320 million to $360 million for the rest of the year to address revenue losses. Revenue for the hospitals was down $365 million between February and April.

Read the full article here.

More articles on healthcare finance:
2 Mercy execs retire early to help address financial fallout
Which health systems received the biggest CARES Act bailouts?
'All other options have been exhausted': UW Medicine furloughs 1,500

© Copyright ASC COMMUNICATIONS 2020. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.

 

Featured Webinars

Featured Whitepapers