In the coronavirus pandemic, the job of Valley area hospitals has never been more important, but all their efforts will result in the loss of millions of dollars.
Many have set up tents to screen COVID-19 patients at the door, and the patients admitted often require expensive care. At the same time, elective surgeries – which provide solid revenue – have disappeared.
Gustavo Valdespino, chief executive of Valley Presbyterian Hospital in Van Nuys, expects the combination of lost revenue and extra costs will total $30 million to $40 million at his facility.
“You are taking care of very high-intensity patients and at the same time, your volume is significantly lower across the board and particularly in the (operating room),” said Dr. Bernard Klein, chief executive of Providence Holy Cross Medical Center in Mission Hills.
Read the full story in the May 11 issue of the San Fernando Valley Business Journal.