Owensboro Health has received $12.2 million as part of the federal CARES Act, which has allocated more than $452 million toward Kentucky healthcare centers to provide financial relief during the COVID-19 pandemic.
Of the amount received by Owensboro Health, $10 million will go toward the hospital, $1.5 million will cover the Owensboro Health Medical Group, and another $750,000 will go to the OH Muhlenberg County Community Hospital.
Director of Marketing Brian Hamby said the $12.2 million was received last week and will cover the cost of personnel, supplies and resources needed to combat COVID-19. It will also help combat the financial burden faced by Owensboro Health as elective surgeries continue to be put on hold and many outpatient services reduced.
“Owensboro Health, like the other hospitals across the country and state, has faced an unprecedented challenge with COVID-19, coupled with other decisions we had to make for the safety of the community,” Hamby said. “This particular portion of the stimulus is designed to give immediate relief to hospitals.”
Hamby said Owensboro Health is in a better position compared to many other hospitals battling COVID-19 because of its efforts in staying financially secure over the last few years.
Even so, the supplies and staff needed to take on a virus such as COVID-19 can be daunting, Hamby said. According to a press release from Senate Majority Leader Mitch McConnell’s office, the Kentucky Hospital Association predicts hospitals to lose between $600 million and $1.3 billion in revenue over the next eight weeks.
“We want to make sure we’re well-supplied,” Hamby said. “This money can also be used to cover those expenses you’d normally be compensated for. A lot of the outpatient care we’d normally deliver — we’re certainly using telehealth for a lot of it — but this funding will help make up for what telehealth doesn’t quite cover.”
Hamby believes the $12.2 million figure came from a calculation formulated by the federal government that bases each hospital’s amount on Medicare reimbursements and payments.
The $452 million dispersed to more than 3,900 Kentucky medical providers through the CARES Act is believed to be just the first step toward helping out healthcare providers across the Commonwealth.
“Down the road, additional funds may come in,” Hamby said. “This is the first piece. We’re really extremely grateful to have received it. It allows us to stay strong for our community.”
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For the latest information and data on COVID-19 in Kentucky visit kycovid19.ky.gov or dial the Kentucky state hotline at 800-722-5725.
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