GILLETTE, Wyo.— Campbell County Health (CCH) on Monday announced that without decisive action in the wake of COVID-19, recent financial projections are putting the healthcare organization on track for financial insolvency by 2026.
“While the perception was that COVID-19 was a windfall for healthcare because of government assistance, hospitals actually lost hundreds of millions of dollars,” CCH said in a March 28 statement, adding that the pandemic was extraordinarily disruptive.
That disruption combined with an aging local population and more people falling ill, a high number of residents who are either uninsured or underinsured, and outdated technology hindering CCH’s ability to pivot and respond to financial loss effective have placed the healthcare in a financial pickle where they would be unable to pay their debts by 2026, per the statement.
“The CCH leadership and Board of Trustees are, and have been, taking proactive measures to turn the tide and move toward financial stability,” the statement reads, either by their affiliation with UCHealth or the hiring of Matt Shahan as the new CCH CEO, among other things.
Organizational leadership is addressing the issue head-on, CCH says, adding that they are already on track to strengthen both the quality of healthcare and the financial viability of CCH for generations to come.
“CCH has tough decisions ahead that will continue to challenge the organization,” the statement reads. “We know the closure of Close to Home hit our community hard, but it is an example of the belt-tightening we must take to ensure the long-term viability of CCH.”
Additional information concerning a plan of action to address the healthcare organization’s financial woes will be forthcoming, per the CCH statement. will be forthcoming in the coming days, per the CCH statement.