Investor-owned hospitals brace for Hurricane Michael’s fury

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HCA executives are assembly Wednesday morning to debate the potential influence and preparations.

A Group Well being Programs’ spokesperson was not instantly accessible for remark. A Common Well being Providers spokesperson supplied the next assertion:

Common Well being Providers (UHS) and its services are carefully monitoring Hurricane Michael. We’ve got three Behavioral Well being services within the Florida Panhandle area. Whereas we stay totally operational presently, we’re making applicable preparations for the storm.

If evacuation orders are referred to as within the areas by which we have now services, we’ll adjust to these orders. We’ll guarantee the protection of our shoppers and workers by relocating operations. Throughout this time, we’ll put up well timed updates and vital directions on our web sites and by way of social media. When the risk passes and it’s protected for shoppers and workers to return to our services, we’ll proceed to put up updates relating to the reopening and resumption of regular operations.

Shares of HCA and Common Well being Providers had been marginally greater Wednesday, every up about zero.1 % midmorning. Group Well being Programs shares had been up greater than three %.

Harm from hurricanes Harvey and Irma in Texas, Florida and Louisiana final yr confirmed within the hospitals’ quarterly outcomes. The 2 storms value HCA an estimated $140 million, earlier than insurance coverage claims, the corporate mentioned in its 2017 third-quarter earnings report.

Group Well being Programs mentioned it suffered $40 million in losses resulting from Harvey and Irma, whereas Common Well being Providers misplaced about $12 million to $13 million.

“At this point the earnings risk from Michael seems significantly lower, though many hospital companies had facilities in the path of Hurricane Florence in September as well,” mentioned Evercore ISI analyst Michael Newshel in a analysis report back to shoppers late Tuesday.

Florida Gov. Rick Scott informed residents early Wednesday that it was their “last chance” to evacuate earlier than the storm hits the state’s Gulf shore. Hurricane Michael was packing winds of as much as 140 mph as of Wednesday morning, in response to the U.S. Nationwide Hurricane Middle.

WATCH: Life-threatening flash floods potential from Michael

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Natalia Camp

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