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Hospitals lost 27,000 jobs in May, showing they have yet to recover financially.

By Mallory Hackett, Associate Editor, Healthcare Finance

June 5, 2020

WHY THIS MATTERS

The COVID-19 pandemic has affected the economy and unemployment in record numbers. The uptick in jobs announced today follows an historically high unemployment rate of 14.7% in April, the highest since the Great Depression.

The employment report shows an economy fighting to rebound. The overall unemployment rate declined by 13.3% in May, as 2.5 million jobs were added to the economy. The Bureau of Labor Statistics attributes this to the recent re-opening of many states’ economies.

However the numbers also show that hospitals have yet to recover financially from the surge of COVID-19 patients and the loss of revenue from postponed or cancelled elective procedures. Many were forced to furlough or lay off staff because the billions earmarked for hospitals in the Coronavirus Aid, Relief and Economic Security Act was not enough for most hospitals to operate at previous expense levels.

Hospital visits started to drop nationwide in March as state and federal officials called for postponing non-covid-19 treatments when possible to free up health-care resources. These cancellations included surgeries, outpatient procedures and even preventive services.

By mid-May, almost 94 million adults had delayed medical care because of the coronavirus pandemic, the Census Bureau reported in its Household Pulse Survey. Some 66 million of those needed but didn’t get medical care unrelated to the virus.

“Whether you have a lot of cases, or don’t have a lot of cases, you’re going to have a financial hit,” said Will Ferniany, chief executive of the UAB Health System. While covid-19 patients never came close to filling intensive care beds at its Birmingham, Ala., hospital, occupancy of other beds dropped to less than half. Ferniany’s system is losing $70 million a month in patient revenue, which it must try to make up with cost-cutting and federal aid.

Under the Cares Act, the Department of Health and Human Services says $175 billion was allotted for health-care providers, including hospitals in rural and high-impact areas and places treating uninsured covid-19 patients. But hospitals could miss out on some aid if they hadn’t treated a minimum of 100 covid-19 patients, despite the pandemic’s widespread financial damage.

THE LARGER TREND

Overall education and health services employment increased in May, adding 424,000 jobs, after suffering a decrease of 2.6 million in April.

Other industries that saw employment increase last month were leisure and hospitality, construction, education, and retail trade. Government employment, on the other hand, continued to decline.

It’s unlikely that all the lost hospital jobs will come back.  Instead, a future where hospitals continue to cut costs, eliminate duplicated services and cast a critical eye on their need for buildings is more likely.

With the recently enacted Coronavirus Aid, Relief, and Economic Security Act (CARES Act), many citizens will be eligible to receive an economic impact payment from the Internal Revenue Service (IRS).

These payments provide critical relief for many Americans, as the coronavirus pandemic has caused significant economic disruption and put many out of work. In these uncertain times, the IRS is urging taxpayers to be cautious and keep an eye out for a potential rise in phishing scams. 

The Department of the Treasury has developed a web-based portal for individuals to check on the status of their relief benefits and provide their banking information to the IRS in order to receive payments via direct deposit https://www.irs.gov/coronavirus/get-my-payment. It is important to be mindful of scammers posing as government entities who may want access to your personal information to obtain your economic impact payment. The IRS has issued guidance on this matter and Benefits.gov encourages those eligible to receive a check to take precautions in ensuring that they don’t fall into the wrong hands. To protect this vital resource during the coming weeks keep the following in mind: 

• Do not provide financial information to anyone claiming to be working for the IRS or closely associated with the IRS in order to receive your economic impact payment. The IRS will not ask you to provide this information. 
• Do not open any emails claiming to be from the IRS or click on attachments or links. 
• Be mindful that text messages, websites, and social media can also be used by criminals to commit fraud.

If you receive unsolicited phone calls, emails, text messages or social media attempts to gather information that appear to be from either the IRS or an organization closely linked to the IRS, such as the Electronic Federal Tax Payment System (EFTPS), please forward it to phishing@irs.gov. You should not engage with potential scammers online or on the phone. Learn more about reporting suspected scams by going to: https://www.irs.gov/privacy-disclosure/report-phishing 

For all official information regarding the economic impact payments, please refer to the IRS website: https://www.irs.gov/coronavirus-tax-relief-and-economic-impact-payments. To read more about protecting yourself from scams, read the Benefits.gov article on being savvy about phone scams: https://www.benefits.gov/news/article/372

Heart Healthy Tips – Feb. 24, 2020

While none of us typically enjoy getting blood taken, there are many people out there who genuinely fear needles. If you’re one of these people, don’t worry, you are far from alone. This fear is one of the top 10 rated fears in the United States, with 50 million Americans suffering from an extreme fear of needles. This intense anxiety can disrupt both important medical procedures and routine health maintenance. Not only is it a huge deterrent for getting your annual flu shot, which is critically important for preventing the spread of influenza, but it can also discourage people from donating blood.

The anxieties that we feel about needles often don’t match up with the reality of the situation. Getting blood drawn or getting a shot is minimally painful and under the right sanitary circumstances, generally very safe. The issue has to do with mental attitudes surrounding the event. The needles used to draw blood are usually only 16- or 17-gauge needles, which are not wide enough in diameter to cause you any severe pain or bodily harm. Learning the importance behind blood donation and how to better prepare can help make it less intimidating in the future.

Why You Should Donate Blood

Donating blood is an important part of our established medical system and it saves countless lives. Hundreds to thousands of patients need blood each day in both regular and emergency transfusions. Approximately 36,000 units of blood are needed every day for these transfusions, and banks aren’t building the stockpile that they need for patient security. Blood donations are a vital source of life for many people including cancer patients, accident victims, post-operation patients, and many more.

Furthermore, donating blood not only saves lives, but it also has tangible benefits for the donor. Donating blood can actually improve the viscosity of your blood and improve overall cardiovascular health.

How to Prepare for Your Donation

Even if you cannot seem to manage your anxiety about needles, there are some things that you can do to make the process easier. One of the most important things you can do is to properly prepare your body with a few simple steps:

• Make sure that you get plenty of sleep the evening before
• Eat a balanced meal before you go and a snack right afterward
• Avoid fatty foods due to the fat deposits that can build up in your blood
• Drink plenty of water to hydrate your veins and prevent passing out

When you get to the actual facility, try to do everything you can to calm your nerves. Try closing your eyes to avoid catching sight of the needle and its insertion. Additionally, nurses say that talking through the insertion can distract patients enough to skirt major anxiety.

Spreading the Love

Overall, blood donation provides an important resource to those in need, and regular donations should be praised. While blood donation has many benefits, it’s still important for everyone to stay up to date on their doctors’ visits to keep track of their cardiovascular health! Regular visits to the cardiologist and a heart-healthy lifestyle are strongly encouraged. Check out our blog for tips or schedule a visit with one of our qualified doctors today!

By Lawrence Robinson, Jeanne Segal, Ph.D., and Robert Segal, M.A. – June 2019

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They’re the comfort foods we most often crave: pasta, fries, pizza, white bread, sugary desserts. But here’s how choosing healthier carbs can improve your health and waistline.

Refined or simple carbohydrates include sugars and refined grains that have been stripped of all bran, fiber, and nutrients. These include white bread, pizza dough, pasta, pastries, white flour, white rice, sweet desserts, and many breakfast cereals. They digest quickly and their high glycemic index causes unhealthy spikes in blood sugar levels. They can also cause fluctuations in mood and energy and a build-up of fat, especially around your waistline.

When you eat refined carbs, your bloodstream is flooded with sugar which triggers a surge of insulin to clear the sugar from your blood. All this insulin can leave you feeling hungry soon after a meal, often craving more sugary carbs. This can cause you to overeat, put on weight, and over time lead to insulin resistance and type-2 diabetes. Diets high in refined carbs and sugar have also been linked to high blood pressure, heart disease, obesity, hyperactivity, mood disorders, and even suicide in teenagers.

For many of us, cutting back on sugary treats and overcoming our carb cravings can seem like a daunting task. As well as being present in obvious foods such as sugary snacks, desserts, and candies, sugar is also hidden in much of the processed food we eat – from soda, coffee and fruit drinks to bread, pasta sauce, and frozen dinners. But cutting back on these diet saboteurs doesn’t mean feeling unsatisfied or never enjoying comfort food again. The key is to choose the right carbs. Complex carbs such as vegetables, whole grains, and naturally sweet fruit digest slower, resulting in stable blood sugar and less fat accumulation.

By focusing on whole foods and complex, unrefined carbs, you can reduce your intake of sugar and refined carbs, keep your blood sugar stable, maintain a healthy weight, and still find ways to satisfy your sweet tooth. You’ll not only feel healthier and more energetic, you could also shed that stubborn belly fat so many of us struggle with.

The not-so-sweet link between sugar and belly fat

A lot of belly fat surrounds the abdominal organs and liver and is closely linked to insulin resistance and an increased risk of diabetes. Calories obtained from fructose (found in sugary beverages such as soda, energy and sports drinks, coffee drinks, and processed foods like doughnuts, muffins, cereal, candy, and granola bars) are more likely to add weight around your abdomen. Cutting back on sugary foods can mean a slimmer waistline as well as a lower risk of diabetes.

Good carbs vs. bad carbs

Carbohydrates are one of your body’s main sources of energy. Health organizations such as the U.S. Department of Health and Human Services recommend that 45 to 65 percent of your daily calories should come from carbohydrates. However, the majority of these should be from complex, unrefined carbs rather than refined carbs (including starches such as potatoes and corn).

Unlike simple carbs, complex carbohydrates are digested slowly, causing a gradual rise in blood sugar. They’re usually high in nutrients and fiber, which can help prevent serious disease, aid with weight-loss, and improve your energy levels. In general, “good” carbohydrates have a lower glycemic load and can even help guard against type 2 diabetes and cardiovascular problems in the future.

Good carbs include:

Unrefined whole grains – whole wheat or multigrain bread, brown rice, barley, quinoa, bran cereal, oatmeal

Non-starchy vegetables – spinach, green beans, Brussels sprouts, celery, tomatoes

Legumes – kidney beans, baked beans, peas, lentils

Nuts – peanuts, cashews, walnuts

Fruit – apples, berries, citrus fruit, bananas, pears

Switching to good carbs

While there are many health benefits to switching from refined to complex carbs, you don’t have to consign yourself to never again eating French fries or a slice of white bread. After all, when you ban certain foods, it’s natural to crave those foods even more. Instead, make refined carbs and sugary foods an occasional indulgence rather than a regular part of your diet. As you reduce your intake of these unhealthy foods, you’ll likely find yourself craving them less and less.

Added sugar is just empty calories

Your body gets all the sugar it needs from that naturally occurring in food – fructose in fruit or lactose in milk, for example. All the sugar added to processed food offers no nutritional value – but just means a lot of empty calories that can sabotage any healthy diet, contribute to weight gain, and increase your risk for serious health problems.

Again, it’s unrealistic to try to eliminate all sugar and empty calories from your diet. The American Heart Association recommends limiting the amount of added sugars you consume to no more than 100 calories per day (about 6 teaspoons or 24 grams of sugar) for women and 150 calories per day (9 teaspoons or 36 grams) for men. If that still sounds like a lot, it’s worth remembering that a 12-ounce soda contains up to 10 teaspoons of added sugar—some shakes and sweetened coffee drinks even more. The average American currently consumes 19.5 teaspoons (82 grams) of added sugar each day, often without realizing it. By becoming more aware of the sugar in your diet, you can cut down to the recommended levels and make a huge difference to the way you look, think, and feel.

By Paige Minemyer

Mar 24, 2020

National health spending is likely to grow by 5.4% per year over the next decade, according to new estimates from the Centers for Medicare & Medicaid Services (CMS). 

CMS’ Office of the Actuary released its annual predictions on national health expenditures Tuesday, and the agency projects health spending will account for 19.7% of the gross domestic product by 2028. 

Price growth is likely to accelerate, the actuary said, with a 2.4% growth rate due in large part to faster growth in healthcare workers’ wages. 

“As it has over the past several decades, health spending is expected to grow, on average, more rapidly than the rest of the economy in each year of the projection period through 2028 and to consume an increasingly larger share of GDP,” the actuaries wrote.

The largest source of the growing spending will be Medicare, according to the report, as baby boomers continue to age into the program in large numbers. The federal government’s share of healthcare spending is set to increase from 28% in 2018 to 31% in 2028.

The actuary projects Medicare spending will increase by 7.6% per year on average as enrollment growth far outstrips other programs. Medicare enrollment is expected to grow by 2.5% over the next decade, compared with 1.1% growth in Medicaid and 0.4% in private insurance.

The growth in Medicare enrollment – and accompanying spending – will offset a projected increase in the national uninsured rate over the next 10 years, according to the actuary.  CMS estimates that the insured rate will decline from 90.6% in 2018 to 89.4% in 2028.

A business line that could see significant spending boosts in the coming decade is prescription drugs, with spending expected to accelerate on average 5.4% per year as both price and utilization increase. However, the actuary said that increase will be largely on the back of higher spending among people with private coverage, especially in the latter half of the decade.

By 2024, the actuary estimates that drug spending in commercial plans will grow on average 5% per year, up from 3.7% in 2021 through 2023.

“Policymakers and other stakeholders will undoubtedly continue to monitor these trends and their implications for the health sector, federal and state budgets, and the economy as a whole,” the actuaries wrote.

Greg Says believes these healthcare spending trends should encourage an increased reliance on adequate insurance protection from the ever-increasing costs for healthcare.