HEALTH

COVID-19 causes massive revenue shortfall for Intermountain

Jun 15, 2020, 6:53 PM | Updated: 9:55 pm
Intermountain healthcare performed the first surgery of its kind in Utah. (Intermountain Medical Center in Murray, Utah. KSL TV, file)
(Intermountain Medical Center in Murray, Utah. KSL TV, file)

MURRAY – The coronavirus is having a massive impact on hospitals in Utah, and not just because of the people sickened directly by the virus.  Intermountain Healthcare says they’re losing millions in revenue, and they have to take big steps to handle the revenue shortfall. 

Just between March and May, officials with Intermountain say nearly half of their surgeries, 47 percent, were canceled within their 23 hospitals.  Plus, emergency room visits dropped by 26 percent, inpatients visits dropped by 20 percent and clinic visits fell by 31 percent.  Patients are slowly starting to come back, but COO Rob Allen says it will take a while before things get back to normal.    

“When you start to shut down sections of hospitals and clinics, then our caregivers don’t have the work they normally have,” he says.

In all, Allen says they’re projecting to lose $435 million in revenue, so cuts will have to be made.  They wanted to keep take-home pay as intact as possible, but Allen says they’ll have to put a pause on their 401k donation matches.

This isn’t the first time the company has taken this measure.

Allen says, “It’s something we did in 2009 after the financial crisis of 2008.  For a 12-month period of time, we removed the match.  So, this year, for the third and fourth quarters, we will suspend the match in our 401k program.”

Allen also says they’re going to look over their expenditures with a fine-tooth comb to see where they can save money.

“We’re looking at all of our discretionary spending.  We mentioned our capital spending will be pulled back this year.  We’re looking at our contracting and our suppliers and how we might get better pricing there,” he says.

When the outbreak began, Allen says they knew nurses and clinicians would be out of work, unless they found something else for them to do.  The company saw a huge spike in the number of people calling their hotlines, so they placed 300 employees there.  Over 9,000 of their workers were reassigned to places like COVID-19 testing sites.  Plus, 100 workers traveled to New York to help hospitals in need.

Allen says they didn’t want to cut jobs and furlough workers like many health care agencies have decided to do.

 “We worry about any decision we make and how it impacts our caregivers.  We want to celebrate them for the great work they’re doing,” he says.

  

 

Related articles:

A recent grad is upcycling thousands of graduation gowns to help hospitals in need of PPE

Fighter jets fly over Utah hospitals to thank medical workers

IHC doctors and nurses return from treating COVID-19 patients in New York

 

How To Prevent the Spread of COVID-19 Coronavirus 

 

COVID-19 coronavirus is transmitted from person to person. It is a virus that is similar to the common cold and the flu. So, to prevent it from spreading: 

  • Wash hands frequently and thoroughly, with soap and water, for at least 20 seconds.  
  • Don’t touch your face. 
  • Keep children and those with compromised immune systems away from someone who is coughing or sneezing (in this instance, at least six feet) 
  • If there is an outbreak near you, practice social distancing (stay at home, instead of going to the movies, sports events, or other activities.) 
  • Get a flu shot. 

Resources for more information: 

 

LOCAL: 

State of Utah:  https://coronavirus.utah.gov/ 

Utah State Board of Education 

Utah Hospital Association 

The Church of Jesus Christ of Latter-day Saints 

Utah Coronavirus Information Line – 1-800-456-7707 

National Links 

Centers for Disease Control and Prevention 

Commonly asked questions, World Health Organization 

Cases in the United States 

 

 

 

We want to hear from you.

Have a story idea or tip? Send it to the KSL NewsRadio team here.

Today’s Top Stories

Health

A new study finds that reports of bad weather and air actually decrease ridership on the UTA....
Devin Oldroyd

Relief from inversion and poor air quality may be in Utah’s near future

The Beehive State is in the middle of some thick inversion and poor air quality, but relief may be on the way according to the National Weather Service.
2 days ago
A study by Intermountain Health that spanned 40 years and sought answers about the health of people...
Simone Seikaly

Intermountain’s 40-year study provides insight into weight-loss surgery

In some cases the results from the weight-loss surgery study were expected. But at least one result could be a cause for alarm and caution.
2 days ago
The U.S. Department of Agriculture's Food Safety and Inspection Service has issued a recall for mil...
Simone Seikaly

Check your pantry, a Conagra canned meat recall may affect you

Millions of pounds of canned meat and poultry products (mainly Vienna sausages) are involved in the Conagra recall.
2 days ago
Two temporary federal pandemic emergency assistance programs are coming to an end in the coming mon...
Waverly Golden

As two federal pandemic emergency-assistance programs near an end, Cox has solutions

Two temporary federal pandemic emergency assistance programs are coming to an end in the coming months due to more job opportunities.
2 days ago
FILE - A doctor loads a dose of Pfizer COVID-19 vaccine into a syringe, Thursday, Dec. 2, 2021, at ...
Aimee Cobabe

Bill banning vaccine passports heading to Utah Senate

A bill to ban vaccine passports is heading out of the Utah House and into the Utah Senate. The bill is similar to a failed bill from 2022.
6 days ago
A bill on transgender healthcare — banning transgender-related surgeries and puberty blockers for...
Eliza Pace, KSL TV and Aimee Cobabe, KSL NewsRadio

Utah Senate approves changes to transgender care bill, passes on to Gov. Cox

SB16 bans gender-confirming surgeries for minors and also places a moratorium on puberty blockers for minors.
9 days ago

Sponsored Articles

Banner with Cervical Cancer Awareness Realistic Ribbon...
Intermountain Health

Five Common Causes of Cervical Cancer – and What You Can Do to Lower Your Risk

January is National Cervical Cancer Awareness month and cancer experts at Intermountain Health are working to educate women about cervical cancer, the tests that can warn women about potential cancer, and the importance of vaccination.
Kid holding a cisco fish at winterfest...
Bear Lake Convention and Visitors Bureau

Get Ready for Fun at the 2023 Bear Lake Monster Winterfest

The Bear Lake Monster Winterfest is an annual weekend event jam-packed full of fun activities the whole family can enjoy. This year the event will be held from January 27-29 at the Utah Bear Lake State Park Marina and Sunrise Resort and Event Center in Garden City, Utah. 
happy friends with sparklers at christmas dinner...
Macey's

15 Easy Christmas Dinner Ideas

We’ve scoured the web for you and narrowed down a few of our favorite Christmas dinner ideas to make your planning easy. Choose from the dishes we’ve highlighted to plan your meal or start brainstorming your own meal plan a couple of weeks before to make sure you have time to shop and prepare.
Spicy Homemade Loaded Taters Tots...
Macey's

5 Game Day Snacks for the Whole Family (with recipes!)

Try these game day snacks to make watching football at home with your family feel like a special occasion. 
Happy joyful smiling casual satisfied woman learning and communicates in sign language online using...
Sorenson

The Best Tools for Deaf and Hard-of-Hearing Workplace Success

Here are some of the best resources to make your workplace work better for Deaf and hard-of-hearing employees.
Team supporters celebrating at a tailgate party...
Macey's

8 Delicious Tailgate Foods That Require Zero Prep Work

In a hurry? These 8 tailgate foods take zero prep work, so you can fuel up and get back to what matters most: getting hyped for your favorite
COVID-19 causes massive revenue shortfall for Intermountain