Orthopaedic Institute for Children in Los Angeles is estimated to be losing $250,000 to $500,000 a month since California Gov. Gavin Newsom's executive order postponed elective procedures in March, State of Reform reports.
The institute performs the full spectrum of pediatric spine and orthopedic care, seeing 60,000 to 70,000 patients a year at its ASC, urgent care centers and specialty clinics.
Since elective procedures were suspended, the practice has seen a 60 percent to 80 percent decrease in its urgent care volume, according to Lannie Tonnu, the institute CFO.
The practice's ASC has been operating two days a week, down from its usual five.
COVID-19 has inflicted added financial pressure on the practice, bringing new costs, such as the procurement of personal protective equipment, telecommuting expenses, the expansion of telehealth and screenings for all staff, patients and visitors.
The institute is a standalone, mission-based organization that doesn't have the same financial support of hospitals and medical groups affiliated with large health systems or hospital associations, Mr. Tonnu said.
"How do you weather this storm for two, three or four months?" he asked in an interview with State of Reform. "The new normal will be different than what we used to have before. What we had before was already challenging, so now we have this on top of it."