This week’s episode of “WisBusiness: The Podcast” features Eric Borgerding, president and CEO of the Wisconsin Hospital Association.
The state Department of Health Services will distribute $40 million in aid to Wisconsin hospitals by the second week of July. Funds stem from the CARES Act coronavirus relief package to make up for the lost revenue and increased expenses from the pandemic.
While the $40 million is greatly appreciated among Wisconsin hospitals and WHA, Borgerding said he hopes the door is open for more. He estimates that losses number $2.5 billion in lost revenue.
“We’re grateful for $40 million from the state, we truly are, but in the context of things, that’s about a day’s worth of lost net revenue to our health system,” he said.
And that loss is expected to continue week after week, diminishing over time, but still stacking up. Borgerding attributes the continuing loss to low public confidence in going to the hospital and a shifting payer mix. Listen to the podcast here.