To our National Accounts Nation:
As you and your teams continue to navigate and conquer many challenges, I ask that you please reach out to me and our association if there is anything we can do to help you fulfill your mission of positively impacting healthcare and helping others in crisis.
Our network of National & Corporate Account Executives is unique in touching so many aspects of healthcare each day. Your technologies, products, services & solutions are at the heart of critical breakthroughs that have true global impact, and we value your continued partnership in this journey.
Please continue to take the necessary precautions to help ensure your own health and safety and that of your loved ones.
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Best,
Scott M. Pecore
President, ANAE
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Ascension reports loss of $2.7B in Q1
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The Catholic system, one of the largest hospital operators in the country, saw operating revenue decrease 2.5% year over year in the period ending March 31 to $6.1 billion. That came as expenses like salaries and supplies ticked up by more than 3% to $6.4 billion.
Ascension reported a total loss of $2.7 billion in the first three months of 2020, compared to income of $1.2 billion during the same time last year, according to new
financial statements
from the nonprofit giant.
Ascension also reported losses from investments of $2.48 billion, compared to return from investments of $1.1 billion from the same time last year. Nonprofit operators are reporting
massive investment hits
as the stock market slid in the beginning of the year following widespread business closures and shelter-in-place orders stifling the economy.
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This era of uncertainty due to COVID-19 and its impact on the healthcare economy has created a lot of unknowns for the National Accounts community. We would like to gather some insight into what people are thinking, feeling and anticipating as business and procedures start to increase.
Please rest assure all responses are anonymous and only the combined, topline results will be shared.
This survey will take you less than 2 minutes to complete. Thank you for your participation!
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Trump likely to slap limited sanctions on China over Hong Kong crackdown
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Under political pressure to take a hard line against China for its crackdown on Hong Kong, President Trump instead is planning to impose relatively mild new sanctions on visas and Chinese access to the global financial system.
Trump’s response is expected to leave intact the U.S.-China trade deal that he agreed to in January, at least for now. Under the so-called Phase 1 deal, China committed to buying $200 billion more goods from the United States over the next two years, a top political priority for Trump.
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Dee Donatelli, RN, BSN, MBA, vice president of professional services, TractManager, and principal of Dee Donatelli Consulting, LLC wrote an article for
The Journal of Healthcare Contracting
reflecting on understanding what we have been going through with COVID-19, how we will get through it, and what steps we need to take to prepare for the next crisis.
"As we have learned through this crisis, supply chain is the backbone of healthcare. We have a responsibility to reflect upon and renew our profession, partnerships and dedication to improve the process for our future."
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Baylor Scott & White will lay off 1,200, furlough others
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The layoffs amount to about 3% of Baylor Scott & White's workforce, the hospital system said in a statement. At the same time, it is raising pay for nearly 12,000 nurses and staff.
The job cuts announced Tuesday appear to be the deepest in Baylor’s history, a spokeswoman said. Those being laid off will be notified this week and will be paid through June 7.
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How to safely reopen America's offices, according to CDC
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In light of plans to open nonessential businesses, CDC on Wednesday released detailed guidelines on how employers can resume operations while still taking precautions to avoid the virus' transmission among workers.
1. Ensure facilities are safe for reopening
2. Assess facilities to identify and correct 'close contact' areas
3. Put in place safety measures to protect employees from potential Covid-19 exposure
Peter Kimmel—the publisher of FMLink, a publication for the facilities management industry—similarly said CDC's guidelines are "a good checklist of what needs to be done," but they also raise many questions.
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New ANAE National Accounts Today Podcast with PDI
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In episode 9 of National Accounts Today, Scott Pecore, President of the Association of National Account Executives, interviews Sean Gallimore, SVP & GM from PDI Healthcare, a leader in Infection Prevention products for the healthcare market.
The podcast includes:
- PDI’s products that are currently in development and pending FDA approval for efficacy against SARS-CoV-2.
- Lessons learned from inside & outside of the hospital walls relative to COVID-19
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COVID-19 pushes Cleveland Clinic to $39.9M operating loss in Q1
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Cleveland Clinic's revenue climbed to $2.6 billion in the first quarter of this year, up from $2.5 billion in the same period a year earlier, according to unaudited
financial documents
.
Including April, the first full month the health system limited services due to the pandemic, Cleveland Clinic experienced net patient service revenue shortfalls of more than $500 million, compared to plan, and incurred about $100 million in COVID-19 preparedness costs.
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AHA Asks HHS for $52B in Emergency Funding
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The American Hospital Association on Tuesday pressed the federal government for an additional $52 billion in "expedited" emergency funding to help the nation's hospitals stem losses accrued during the coronavirus pandemic.
Hospitals across the nation have all but shuttered most elective and outpatient services for the past two months to contend with COVID-19. The AHA
estimates
a total four-month financial impact of $202.6 billion in losses for hospitals and health systems, an average of $50.7 billion per month.
So far, the federal government has doled out about $170 billion in direct aid to hospitals in a series of stimulus bills.
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The editor of the
Journal of Healthcare Contracting reflected on the residual effect of what COVID-19 has done to public health in the United States.
At Piedmont Hospital’s ER in Atlanta, Georgia, on some days there were more physicians than patients, according to the
Atlanta Journal-Constitution.
The coming weeks and months will resemble a balancing act of preparedness and vigilance for COVID-19 cases, with an urgency in ramping back up normal care and elective surgeries that had been put off due to the pandemic.
Meanwhile, supply chain leaders will have to continue to navigate possible product disruptions. Allocation from traditional suppliers and sourcing from new ones are part of the new normal.
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More ‘health care deserts’ possible after four South Side hospitals call off $1.1 billion merger plan
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Advocate Trinity Hospital in Calumet Heights, Mercy Hospital & Medical Center in Bronzeville, South Shore Hospital in South Chicago and St. Bernard Hospital in Englewood had planned to join forces as part of a $1.1 billion project that included building at least one new hospital and up to half a dozen community health centers. It’s possible one or more of the existing hospitals would have closed as part of that plan.
The hospitals had asked lawmakers for $110 million for fiscal year 2021, and a total of $520 million over the next five years, to offset expected losses as they created the system and built a hospital.
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John Pritchard
Publisher of National Accounts Weekly
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