HealthLeaders Media April 21, 2020
The spread of COVID-19 significantly impacted the financial performance of provider organizations last month.
As a result of the ongoing coronavirus disease 2019 (COVID-19) outbreak, hospital EBITDA margins fell 13 percentage points year-over-year in March, according to a Kaufman Hall report released Tuesday.
Provider organizations suffered a sizable financial burden as elective surgeries were largely eliminated to prepare for the influx of patients infected with the novel coronavirus, according to the report.
Operating room minutes fell nearly 20% compared to March 2019, while revenues were 13% lower than budget for inpatient revenue and 17% for outpatient revenue. Additionally, the median occupancy rate for hospitals in March was 53%, down 12% year-over-year, discharges decreased 11%, and emergency department visits fell 15%.
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