Becker's Hospital Review

16 CFO / FINANCE 14 health systems receiving most federal coronavirus aid in first round of funding By Ayla Ellison H ospitals across the U.S. received their first payments in April from the $175 billion in relief aid Congress allocated to cover expenses or lost revenues tied to the COVID-19 pandemic. e first $50 billion in funding from the Coronavirus Aid, Relief and Economic Se- curity Act was delivered to hospitals in April. HHS distributed $30 billion based on Medi- care fee-for-service reimbursements and an- other $20 billion based on hospitals' share of net patient revenue. HHS released data May 7 sharing where the $50 billion in funding went. e department provided a list of hospitals that received pay- ments and agreed to the terms and conditions for receiving the relief aid as of May 4. As part of those terms, hospitals agreed not to bal- ance bill COVID-19 patients and to submit documents showing the funds were used for expenses or lost revenue from COVID-19. Here are the 10 health systems that received the most funding: 1. Dignity Health (San Francisco): $180.3 million 2. Cleveland Clinic: $103.3 million 3. Stanford Health Care (Palo Alto, Calif.): $102.4 million 4. Memorial Hermann Health System (Houston): $92.4 million 5. NYU Langone Hospitals (New York City): $92.1 million 6. e County of Los Angeles: $80.9 million (Los Angeles County operates four hospitals) 7. Hackensack (N.J.) Meridian Health: $76.8 million 8. Florida Cancer Specialists & Research In- stitute (Fort Myers): $67.3 million 9. Memorial Hospital for Cancer and Allied Diseases (New York City): $64 million 10. Massachusetts General Hospital (Bos- ton): $58.1 million Separately, major publicly traded hospital operators disclosed how much funding they received from the CARES Act. Each company received at least $195 million. 1. HCA Healthcare (Nashville, Tenn.): $700 million 2. Tenet Healthcare (Dallas): $345 million 3. Community Health Systems (Brentwood, Tenn.): $245 million 4. Universal Health Services (King of Prus- sia, Pa.): $195 million n Ascension will protect pay of employees shifted, unable to work during pandemic, CEO says By Kelly Gooch I n an email to 160,000 employees, Ascension's CEO said the St. Louis-based hospital system will protect their pay if they're temporarily assigned to different jobs or unable to work for reasons linked to COVID-19. In the April 3 email, Ascension President and CEO Joseph R. Im- picciche said the protection will come through such programs as furlough pay, pay continuation, PTO advance, worker's compen- sation and short-term disability. Ascension also will offer daycare subsidies and reimbursements for employees who care for infected patients and may need to stay in a hotel for social-distancing purposes, the email stated. "We are blessed to be able to make this commitment and ap- preciate the tremendous work and flexibility of our associates, leaders and physicians in providing compassionate, personalized care," Mr. Impicciche wrote. "I am proud to witness the way all as- sociates have come together to address the challenges of today, just like we have throughout our history." n Kaiser cancels $900M headquarters project By Ayla Ellison K aiser Permanente has scrapped plans to build a $900 million office tow- er in Oakland, Calif., according to the San Francisco Chronicle. The healthcare giant had planned to move more than 7,000 employees from seven offices into a 1.6 million-square-foot, 29-story tower. Now that the plan for a headquarters office in Oakland is no lon- ger happening, Kaiser will stay in its existing East Bay offices, according to the report. Kaiser reexamined the feasibility of the project due to delays and increasing costs of the tower, the sys- tem told the San Francisco Chronicle. Kaiser said the decision to cancel the project was not related to the COVID-19 pandemic. n

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