Wheeling Hospital is one of the many institutions being affected heavily by COVID-19, and it’s not just because they’re caring for patients.
The hospital has seen major economic losses this fiscal year due to COVID, totaling more than $18 million.
That’s including an additional $11 million loss in 2019. There’s also a settlement with the department of justice that will lead to even more losses.
The hospital did received $22 million in CARES Act funding, but it missed out on other aid opportunities, which lead to the loss.
The hospital has taken several steps to mitigate the losses, and yesterday began a voluntary plan to reduce its workforce.
The plan will include a severance plan for anyone interested, but if not enough people choose to take it, an involuntary plan may be implemented.
Meanwhile, the DOJ settlement should be coming down in the future, which will have another severe impact on finances.
Employees are asked to make their decision on the voluntary reduction plan by Aug. 4.