Cincinnati-based Beacon Orthopaedics & Sports Medicine is still open but is making changes after Ohio Gov. Mike DeWine banned elective surgeries in the wake of the coronavirus pandemic, according to the Cincinnati Business Courier.
Five things to know:
1. The practice furloughed 219 employees due to the business downturn, including both administrative and clinical workers at its practice and surgery centers.
2. The furloughs are temporary and the practice expects to bring employees back when its physicians ramp up elective procedures again in the future.
3. Beacon's CEO and the 20 physician owners are not taking pay during this time to help staff members through the financial hardship.
4. Physicians are continuing to see patients via video consultations at five of its main locations and will continue regular follow-up visits virtually. Its physical therapy and imaging locations are also still open.
5. The Courier reported that the practice's business was "significantly" off due to the COVID-19 pandemic. Beacon does have a private equity partner, Revelstoke Capital Partners.