UnitedHealth accelerates $2 billion in health care support
Minnetonka-based UnitedHealth, which runs the nation’s largest health insurance company, said it will hasten payments to medical and behavioral care providers that provide services to patients in certain UnitedHealthcare health plans. The company also plans up to $125 million in small business loans to clinical operators that partner with OptumHealth, the company’s division that directly provides care to patients.
Hospitals and clinics across the country have been stressed financially by the COVID-19 pandemic, as they try to prepare while seeing revenue plunge due to delays in elective and nonemergency procedures.
The Minnesota Hospital Association says hospitals across the state are losing about $31 million per day in net revenue due to a state order in late March to halt most nonemergency medical procedures. Hospitals have supported the order as a way to conserve medical supplies for an expected surge of COVID-19 patients.
Minneapolis-based Fairview Health Services said Saturday that sharp revenue declines were prompting reduced hours for about 15% of all workers at the health system, including a request for some physicians to take furlough. Starting Monday, Fairview temporarily closed 17 clinics for walk-in care.
Duluth-based Essentia Health said in a filing with bondholders this week that it expects a 20% to 40% reduction in short-term revenue due to delays in elective procedures and surgeries. The health system has placed on special administrative leave about 500 of its 14,500 employees who are not involved in direct patient care.
Two private medical groups told the Star Tribune last week they had furloughed more than half their workers. Minneapolis-based Allina Health System said the patient census across 11 hospitals has dropped to just 40%, from a regional average of more than 75%, and surgical volumes are about 10% to 20% of normal.
https://www.startribune.com/unitedhealth-accelerates-2-billion-in-health-care-support/569475282/
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Never thought I will have anything positive to say about UnitedHealth..
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