A report by Kaufman Hall showed that while hospitals’ operating margins improved in July, they were down 96% since the start of the year. Including funding allocated through the CARES Act. Without CARES Act funding, hospital margins were still down 28%.
Providence posted a $221 million operating loss in the first half of 2020 due to the Covid-19 pandemic. The Washington-based health system saw patient volumes decline by 13% in the first six months.