Accounting & Financial Management
Demand for physicians, as gauged by the number of new search engagements, has declined by over 30% since March 21.
Healthcare and social assistance has so far received $67.4 billion of the $521 billion distributed by the program.
The U.S. Department of Health and Human Services also announced it would give $450 million to the biotech company Regeneron to manufacture and supply the company's antibody treatment.
The health system said federal funding doesn't cover operating losses incurred during the public health crisis.
The system expects it will realize the $500 million reduction in debt as anticipated, though a final order is still needed.
The CARES Act and the resumption of elective procedures have helped, but they're still baby steps on the road to recovery.
The coronavirus is mainly affecting the credit outlook for the rest of the year and beyond as hospitals adapt to new financial realities.
The collaboration with Health Care Service Corporation, billed as Epic's first such project with a payer organization, will help health plans more easily review data for managing claims and prior authorization.
The cancellation of elective procedures and low patient volume are the main culprits, while analysts anticipate a modest rebound.
In the past few months, deferral of elective procedures and many routine in-person medical visits precipitated a financial burden.