Boston Business Journal

Mass General Brigham to Lose $400M a Month From COVID-19

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Mass General Brigham expects to lose $400M per month due to the coronavirus shutdown. The health network's CFO said even in the first quarter, which included just the start of the pandemic, the system suffered a massive operating loss. It expects to lose $400 million a month for the coming quarter.

The system formerly known as Partners HealthCare reported a $178 million operating loss on $3.43 billion in revenue in the second quarter of its fiscal 2020, which ended in March. That compared with a $107 million operating income on $3.4 billion in revenue in the fiscal second quarter of 2019.

Though the coronavirus pandemic only started to impact the hospital at the tail end of the quarter — largely after the Baker administration shut down elective procedures on March 18 — the effect was massive: In March alone, net patient service revenue was off by $140 million, half of expected levels. Supply shortages and supply-chain issues ballooned supply costs by $100 million for the quarter — a 13% increase from the same period last year.

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