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COVID-19 financial guide for hospitals

Apr 01, 2020

The healthcare industry is facing one of the greatest challenges in modern history with the COVID-19 pandemic, and healthcare organizations and hospitals of all types need to carefully assess their financial circumstances and, in particular, their cash flows to determine what supplemental resources are available.

As new regulations and changes unfold daily, we have developed a financial guide for hospitals, which includes a few thoughts on potential steps that your accounting and financial management teams may want consider for future planning.

We also provide a brief overview of the recently passed Coronavirus Aid, Relief, and Economic Security Act (CARES Act), which includes financial assistance as well as other provisions to manage the crisis and stimulate the economy. We discuss specifically the CARES Act provisions that can help hospitals and healthcare providers.

Please also stay tuned to our website, as we will be posting information in the near future related to the summary of the provisions in the CARES Act included in this overview as well as other pertinent topics to assist healthcare organizations of all sizes strengthen their financial position.

Download our guide

Author(s)

Paul M. Traczek, CPA
Partner
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Eric Volk, CPA
Partner
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Kimberly K. Heller, CPA
Partner
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Holly S. Pokrandt, CPA
Partner
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COVID-19 resource center | Wipfli