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UAHS receives $6.9 million in stimulus funding

Posted on: 05/06/2020

Olean General Hospital and Bradford Regional Medical Center, member hospitals of Upper Allegheny Health System (UAHS), have received a second payment as part of the federal government’s COVID-19 stimulus program.

The payment of $6.9 million follows a previous payment of $3.6 million to help offset the costs of fighting the COVID-19 pandemic. Prior to the stimulus payments, UAHS had reported a projected 2020 loss of $23.5 million as a direct result of the COVID-19 pandemic.

“This funding is good news and certainly much needed. We are grateful to Congressman Tom Reed and all those who supported this stimulus funding which now totals $10.5 million,” said Jeff Zewe, president and CEO, UAHS. “However, while we deeply appreciate this funding, we are still far from out of the woods.”

“This additional funding reduces projected losses for 2020 to $13 million,” said Rick Braun, senior vice president and chief financial officer, UAHS. “We still have a huge financial mountain to climb and will continue to appeal to our government leaders to identify additional funding.”

Last week, Zewe and Braun voiced serious concerns about UAHS’ finances as a direct result of the negative financial impact of the COVID-19 pandemic, stating lost revenues and higher expenses. The loss of business due to the cancellation of elective surgeries, taking services off line and a drop of between 50 and 80 percent in patient activity across OGH and BRMC put the hospitals, like all rural hospitals, in a precarious financial position.

UAHS previous reported that March and April losses for UAHS totaled nearly $10 million.

“We appreciate this latest stimulus funding. However we need our government officials to support additional grant funding to save rural hospitals from financial crisis,” Zewe said.

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