Beaumont loses $146M+ in first half of 2020, brings back 1,360 furloughed employees

The system ended the period with an operating loss of $48.4 million, compared to an operating gain of $76.2 million in the same duration one year prior..

Alia Paavola –
Friday, July 31st, 2020
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Southfield, Mich.-based Beaumont Health reported a $146.7 million bottom line through the six-month period ended June 30, which is a $355.6 million drop from the very same period one year prior, according to recently released financial outcomes..

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Beaumont said the COVID-19 pandemic has actually largely impacted its volumes and operations. In specific, Beaumont saw its surgical treatment volume dip 27.5 percent in the very first half of 2020, compared to the same period in 2019. In addition, it saw emergency situation department visits fall 20 percent and inpatient discharges fall 15.9 percent year over year..

In the very first half of 2020, Beaumont taped income of $2.1 billion, which is a 9.5 percent decrease from the $2.3 billion reported in the very same duration in 2019..

Beaumont said that surgeries, ER sees and diagnostic services have actually started to recover, but they are still not at pre-COVID-19 levels. In spite of still seeing lower volumes, Beaumont has been able to restore 1,360 furloughed workers, according to the report. Beaumont had actually furloughed 2,475 staffers in late April..

Gain access to the full report here..

Beaumont saw its costs decrease year over year from $2.3 billion in the first half of 2019 to $2.2 billion in the very first half of 2020..

” The results of the pandemic are expected to continue throughout the rest of the year as Beaumont has actually cared for more COVID-19 clients than any other healthcare system in Michigan,” Beaumont said..

In particular, Beaumont saw its surgical treatment volume dip 27.5 percent in the first half of 2020, compared to the very same period in 2019. Beaumont said that surgical treatments, ER visits and diagnostic services have actually begun to recover, but they are still not at pre-COVID-19 levels. Regardless of still seeing lower volumes, Beaumont has actually been able to bring back 1,360 furloughed workers, according to the report.

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