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Central Oregon provider will lay off 105 non-clinical employees but says services will be maintained.
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A state report says the average hospital operating profit for 2020 was 3.3%, thanks in part to a boost from CARES Act money.
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New financial filings show that many enjoyed handsome returns from their bond and stock portfolios.
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In mid-March, as Oregon health officials braced for a crush of COVID-19 cases, Gov. Kate Brown ordered hospitals to postpone elective surgeries to ensure adequate bed space and equipment for coronavirus patients.
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Patient volumes and accompanying revenues are “beginning to recover” at Oregon Health & Science University, but the institution expects the next 12 to 24 months to be financially lean as a recession grips the region, administrators said in a report to the board.
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Oregon’s big hospital systems were sitting pretty just three months ago after years of steady growth and profits. But now they’re grappling with the sudden monetary fallout of the coronavirus pandemic.
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The operating margins at Oregon hospitals continued their upward spiral following an analysis of second quarter financial reports obtained by The Lund Report.
This is from The Lund Report's 2014 look at hospitals. It has been re-printed as we revisit these hospitals in 2015.
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Some of the nation’s biggest healthcare companies have relatively small footprints in Oregon.
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These are tumultuous times for St. Charles Health System. The nonprofit is losing its CEO and slashing its budget, and at the same time preparing to spend millions on new construction to upgrade some of the state’s smallest hospitals.
