Covid-19 cost Netcare R143m in lost revenue in March

A plunge in hospital admissions weighed on income, the private hospital group says

Private hospital group Netcare says a sharp fall in hospital admissions in March cost it R143m in lost revenue, with the effect of the pandemic worsening in April, when acute hospital patient days almost halved.

The group said trading was severely disrupted in April. Revenue in the group’s six months to end-March rose 1.8% to R10.7bn. The group also had a one-off, noncash, share-based payment expense of R348m due to its implementation of a black empowerment scheme in October.Level four of the national lockdown commenced on May 1 and has allowed doctors to recommence with medically necessary, time-sensitive surgical procedures. From the beginning of May 2020, acute hospital patient days to date are trending 15% higher than April 2020, the group said.

About R150m has been committed to enhance the readiness of its intensive care units and high-care facilities in the form of additional ventilators, specialised air filters and ultraviolet light disinfection robots.

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BDliveSA /  🏆 12. in ZA

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