Care New England Loses $44.5M in March, Dr. Fine Warns Primary Care Physicians Face Economic Ruin

Care New England Loses $44.5M in March, Dr. Fine Warns Primary Care Physicians Face Economic Ruin

Care New England reports that the hospital group lost a total of $44.5 million in March.

Care NewEngland lost $15.2 million in operating losses and $29.3 million in non-operating losses.

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Latest in RI Healthcare Losses

This announcement comes on the heels of Lifespan announcing massive losses by Lifespan.

Rhode Island's largest hospital group -- Lifespan -- announced a total loss of $75.7 million for the month of March.

The losses at Lifespan included an operating loss of $23.8 million for the month of March related to the COVID-19 crisis.

The losses were primarily due to the canceling of elective surgeries, closing of ambulatory sites, and a significant reduction in office and emergency room visits.

Primary Care Physicians

Dr. Michael Fine, the former Director of Health in Rhode Island, warns that primary care physicians are in significant economic peril.

“Oh they're struggling -- I mean they've done an amazing job making the transition like in a second to telephonic care but lots of people became afraid of going to the doctor because of you know afraid of being infected in waiting rooms and so their actual business vanished,” said Fine on GoLocal LIVE on Thursday.

He says upwards of 30% of primary care physicians may be forced to close due to lack of revenue, lack of reserves, and little chance of federal bailouts. 

SEE FULL INTERVIEW WITH DR. FINE ABOVE