Samaritan Healthcare Adjusts Budget and Expenses Due to COVID-19

Samaritan Healthcare announced this week that it must institute $6.9 million in expense reductions for their revised 2020 budget.

The move comes after the provider implemented several cost-saving measures in March, such as reducing management and leadership compensation by 20%. Since March 1st, Samaritan has seen a 40% decline in patient volumes and a $15 million loss in gross patient revenue.

The new round of reductions include cuts to staffing (mainly through voluntary standby unemployment), supplies, and other expenses.

Despite receiving $11.9 million in state and federal funds, a model developed by Samaritan is forecasting a loss of $6.5 to $12 million by the end of the year.