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April 21, 2020

Virus negatively impacting YNHH bottom line 

Marna Borgstrom, CEO of Yale New Haven Health, during a Tuesday morning press conference via Zoom.
By Michelle Tuccitto Sullo

As hospitals treat a large number of patients with COVID-19, many other prospective patients have been staying away.

According to executives at the Yale New Haven Health system, not only have elective procedures been postponed, but fewer patients have been coming in for treatment related to heart attack and stroke.

“We kind of threw our budgets out the window a couple of months ago,” said Marna Borgstrom, CEO of Yale New Haven Health, during a press conference Tuesday morning. 

When the system began preparing for the crisis, she said it spent a considerable amount of money to buy needed personal protective equipment and pharmaceuticals. 

She noted how elective procedures have been postponed, bringing revenue down accordingly.

“Spending went up and revenue went down,” she said. “Across the health-care field in general, we do not expect to get anywhere near our budget. We will post operating losses this year.”

While the health system expects to get some financial relief from the federal government, Borgstrom predicted that it won’t be enough to break even.

“We think recovery will be slow and painful for Yale New Haven Health, but we think we have done the right thing for the state and our patients,” Borgstrom added.

Keith Churchwell, MD, executive vice president and chief operating officer for Yale New Haven Hospital, expressed concern about how they have had fewer patients coming in for treatment of heart attacks and strokes. 

“What we think is happening is that patients are staying at home because they are afraid,” Churchwell said. “If people are having symptoms of heart attack and stroke, it’s important to come and be treated. Our teams are here and have processes to keep people safe [from the virus].”

According to Churchwell, the health system is also developing a plan to resume elective surgeries.

Asked if she anticipates layoffs in the health system, Borgstrom said she doesn’t “have a crystal ball.”

“We will do everything in our power to avoid layoffs,” she said. “We will return to normal, and our fervent hope is we will never have to get to the point of layoffs.”

Tom Balcezak, MD, chief clinical officer with Yale New Haven Health, said Tuesday he thinks the state is very close to reaching its peak in coronavirus cases.

“After that, we should start seeing cases go down in Connecticut,” Balcezak said. “We need to continue social distancing.”

As of Monday afternoon, Gov. Ned Lamont reported the state had 19,815 residents test positive for the coronavirus, with 1,919 hospitalized and 1,331 deaths. 

On Tuesday, the YNHH system announced that it had discharged more than 1,000 COVID-positive patients from its facilities. Most have gone home, and others have been discharged to a rehabilitation facility for ongoing recovery.

“YNHHS is also seeing that numbers of admissions are slowing and, in some areas, dropping around the state of Connecticut thanks to our community and the talented members of frontline staff at all hospitals throughout the state,” YNHH indicated in the announcement.

Hospital officials urged the public to continue to practice social distancing and wear masks when out in public.

Contact Michelle Tuccitto Sullo at msullo@newhavenbiz.com.

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