To mitigate the financial havoc caused by the COVID-19 pandemic, Congress swiftly passed a myriad of well-intentioned bills. But the hasty implementation of this stimulus package has resulted in unforeseen consequences and has set the stage to redefine the landscape of restructurings. Read more from our experts Sourav Chaudhuri and Gregory Plotko (Richards Kibbe & Orbe) in New York Law Journal’s Outside Counsel column.
While healthcare has historically been resilient during economic downturns, the nature of this pandemic has introduced new challenges. Managing Director, Jim Porter, spoke with Healthcare Finance News about the pandemic impact mitigation strategy (PIMS) and what the hospital response should look like to survive this financial hit. Read what he had to say here: https://www.healthcarefinancenews.com/news/hospitals-financial-recovery-will-be-tied-health-economy-and-after-covid-19
This current prolonged economic downturn and the loss of employer-sponsored health insurance, coupled with less consumer spending has caused a significant negative impact on the financial performance of hospitals. Read our newest white paper to learn about the Pandemic Impact Mitigation Strategies (PIMS) model, which demonstrates how the impact of this COVID-related unemployment disproportionately affects the hospital community.
Hospitals Trail Rebound in Hiring as Private Insurance Declines
Read the article here
ToneyKorf Partners is proud that our team member, Richard Becker, M.D., has been asked to join Governor Andrew Cuomo’s team as the Deputy Secretary of Health & Human Services for the State of New York.
“We are excited for Richard because he is being called upon for public service during an important time, and we know that he will ‘Make a Difference,’” said Mark E. Toney, co-founder of ToneyKorf Partners. He continued, “we are also honored that one of our team members has been asked to join the Governor’s outstanding team.”
“While we are very excited for Richard, we will also miss having him at the firm. Richard has been an important part of our team and contributed to our continuing success,” said Steven Korf, co-founder of ToneyKorf Partners.
Congratulations, Richard, and thank you for your service!
Read more here
Rural and community hospitals have been disappearing steadily over the last 10 years. But now, under the new stresses posed by the COVID-19 pandemic, the rate of insolvency has accelerated. Senior Managing Directors Mark E. Toney, and Richard Becker, M.D., outline the important steps that need to be taken immediately to protect rural and community hospitals in order to save lives. Read their detailed outline here shared by the National Rural Health Association.
According to Richard Becker, M.D., leadership engagement tracks directly with accomplishing outstanding results. Hospital boards and top executives should make the hospital or health system a high reliability organization (HRO). Read more from Relias Media to learn the three major areas HRO performance is built around and how to improve relations with hospital boards and executives.
ToneyKorf Partners, LLC is proud to have sponsored this moving and informative series of never before seen footage, telling the incredible stories of selfless healthcare workers from Mount Sinai South Nassau, who have put themselves in danger to help others. We encourage you to watch the entire series.