Samaritan’s financial results tied to COVID-19 outbreak

MOSES LAKE — Samaritan Healthcare officials have some idea of the financial impact of the COVID-19 outbreak on the hospital, but the long-term financial effects are uncertain.

In January and February, the hospital was operating more profitably than projected in the 2020 budget, said chief administrative officer Alex Town recently. The hospital was also projected to make money in March, April and May.

Town said Samaritan logged a net loss of about $1.6 million in April and a $733,876 net loss in March.

State officials had ordered the suspension of surgical procedures designated as “non-essential” from mid-March to May 18. Medical facilities also discouraged in-person visits, encouraging phone or video consultations instead.

Revenue in May is projected to improve since the hospital was allowed to resume surgeries, although Samaritan is still expected to lose money in May.

Whether Samaritan finishes 2020 with a deficit will depend in part on the course of the outbreak, Town said.

Some patients will be reluctant to return to any medical facility out of concern about the coronavirus, he said. Some patients may have lost their insurance coverage, and additional patients may qualify for Medicaid. Those factors will affect reimbursement to Samaritan, Town said.

“It’s going to be an interesting year for us,” he said.

“A big part too is getting our employees back,” he said. Some employees were furloughed when treatments were deferred and services suspended. How quickly employees return will determine how quickly some of those services can be resumed.

Cheryl Schweizer can be reached via email at [email protected].