People lack confidence to return to hospitals for planned surgery, especially with the increased number of Covid-19 patients being admitted.
JSE-listed healthcare giant Netcare saw revenue “significantly impacted” in April, to the tune of around R800 million. This was due to Covid-19 lockdown restrictions causing a dramatic decline in hospital admissions for elective surgery, trauma and other medical cases.
Friedland said that from an Ebitda level, the impact for March stands at R64 million, while for April it equates to around R150 million.“Last year we had around R1.8 billion in revenue in April, and this year we saw around R1 billion. So the lockdown resulted in around R800 million less in revenue. However, with the easing of the lockdown, we have seen a 15% increase in admissions thus far in May, compared to April,” he added.
“On 9 March, we treated our first Covid-19 case and March became a transitionary period … [Netcare was] materially impacted by extensive Covid-19 preparations and curtailed [normal] patient volumes,” he noted.
“This effectively brings our investment in PPE to R800 million, as we boost our supplies ahead of the peak of the Covid-19 pandemic in South Africa, which we expect between July and August,” he said.
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