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I'd imagine that most if not all hospitals in WV will be struggling with the loss of elective surgeries. That is a major revenue source and with those procedures gone along with declining patient numbers as people stay home, it will be a rough time financially.
I'd say every hospital in West Virginia (as with most of the nation) would be struggling as elective surgeries are scaled back. Hospitals here in Virginia aren't even allowed to perform them anymore until this crisis gets under control- that is common in many states now.
I'd say every hospital in West Virginia (as with most of the nation) would be struggling as elective surgeries are scaled back. Hospitals here in Virginia aren't even allowed to perform them anymore until this crisis gets under control- that is common in many states now.
I agree. I think the loss of elective surgeries will harm every hospital. If you look at the balance sheets though, some are in much better shape for weathering the storm than others. It is tragic. Some will have a difficult time going forward. If a hospital is relying primarily on Medicaid, Medicare, and PEIA it is going to be a very rough road. The mixture of patients in the various hospital systems is very different. Maybe the federal funds infusions will help the weaker ones? But those are one time deals. They won't continue indefinitely.
Last edited by CTMountaineer; 03-31-2020 at 09:47 PM..
I agree. I think the loss of elective surgeries will harm every hospital. If you look at the balance sheets though, some are in much better shape for weathering the storm than others. It is tragic. Some will have a difficult time going forward. If a hospital is relying primarily on Medicaid, Medicare, and PEIA it is going to be a very rough road. The mixture of patients in the various hospital systems is very different. Maybe the federal funds infusions will help the weaker ones? But those are one time deals. They won't continue indefinitely.
True - I bet some of the rural ones might not last through this. I read where Williamson is closing down, Fairmont is losing theirs but WVU is opening one and I think Mon General too? Interesting times. CAMC is a poorly managed disaster (currently- wasn't always like that)- I heard at one point UPMC was considering buying them but took a look at the leadership team / numbers and said forget it!
True - I bet some of the rural ones might not last through this. I read where Williamson is closing down, Fairmont is losing theirs but WVU is opening one and I think Mon General too? Interesting times. CAMC is a poorly managed disaster (currently- wasn't always like that)- I heard at one point UPMC was considering buying them but took a look at the leadership team / numbers and said forget it!
The Health Plan arrangement could have provided CAMC with a lifeline, but instead of asking for a piece of the action (maybe they didn't have funds to invest though?) they turned tribal and ruined it, possibly shooting themselves in the foot in the process. It would have provided a viable alternative to the horrible PEIA, which naturally is the primary provider for that area.
The Health Plan arrangement could have provided CAMC with a lifeline, but instead of asking for a piece of the action (maybe they didn't have funds to invest though?) they turned tribal and ruined it, possibly shooting themselves in the foot in the process. It would have provided a viable alternative to the horrible PEIA, which naturally is the primary provider for that area.
That is not true. We all know who owns The Health Plan, and we've already been through what a minor issue that is for CAMC. PEIA is only one of several major providers in the Kanawha valley. Incidentally, there is nothing inherently wrong with the PEIA program. The issue is with funding, which has forced management to make changes to coverage and co-payments. I had PEIA coverage when my family experienced two major medical issues, and having things covered and paid for was not a problem.
The hospital in Williamson found a local buyer, Williamson Health & Wellness. They plan to integrate some outpatient clinics into the hospital and find a larger partner for the hospital management. In addition to other WV hospitals, keep an eye on if Pikeville Med Center tries to expand their reach and referral system because of the geographic fit.
Yes, it will be a gut punch for hospitals and health systems. Inpatient numbers are about half what is standard. Outpatient clinics are not seeing many, if any patients. Telemedicine and phone calls which pay substantially less and don’t require nursing staff are replacing in-person visits. On the other side of COVID-19, the job losses will lead to higher numbers on Medicaid which, although care is provided and paid for, reimbursement is less.
That is not true. We all know who owns The Health Plan, and we've already been through what a minor issue that is for CAMC. PEIA is only one of several major providers in the Kanawha valley. Incidentally, there is nothing inherently wrong with the PEIA program. The issue is with funding, which has forced management to make changes to coverage and co-payments. I had PEIA coverage when my family experienced two major medical issues, and having things covered and paid for was not a problem.
14,400 policy holders would have to be considered at least significant for a hospital with serious cash flow issues.
My brother has PEIA coverage. You are correct that it is incredibly poorly funded. That in and of itself makes it inherently bad coverage. When co pays and gaps in coverage, deductibles, and increased out of pocket maximums result in thousands of dollars of unpaid expenses for policy holders, and especially considering the poor pay the State of West Virginia provides for it's workers, it amounts to problems for both the insured, and for the hospitals. His wife's cancer treatment resulted in more than $4,000 in uncovered expenses in just one month, and they won't cover $1,000 of her medication costs every month thereafter.
A bigger question though is how will PEIA be funded once the pandemic is over? State tax revenues will take a massive cut due to the closure of thousands of businesses. If the state poorly funds worker insurance now, imagine how they will fund it in 2021 with far less disposable income to apply to those premiums. Generally, alternative plans offer cheaper physician office co pays and the like, but their payment to hospitals is no better than PEIA. If a hospital is having cash flow problems now, 2021 looks like a disaster in waiting. There will be a ton of hospitals in serious financial difficulty next year, because they have had to eliminate their more profitable elective procedures. Which ones remain to be seen. You can't pay 7,000 workers with a lick and a promise.
Looks like the empty beds and reduced revenues are hitting more hospital systems. Beyond furloughs, some hospitals have also suspended retirement contributions for employees. I'm sure the decreased tax revenues will also decrease reimbursement through programs like medicare and medicaid once this is through the peak period as well. This may halt expansion plans some facilities have as well due to the increased costs and the expectation to keep so much cash on hand. Interesting times for sure.
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