Report: UW Medicine sees $500 million shortfall due to virus

SEATTLE (AP) — UW Medicine, the Seattle-area health care system which has played a leading role in responding to the coronavirus outbreak, is now facing a huge financial hole because of the fallout from COVID-19. The Seattle Times reports UW Medicine’s losses could be more than $500 million by the end of the summer. That’s according to an email Monday from UW Medicine CEO Dr. Paul Ramsey that was obtained by the newspaper. Ramsey wrote that staff cuts, furloughs, hiring restrictions and a pay cut for senior leadership could all be implemented. UW Medicine’s total budget for fiscal year 2020 was $5.8 billion.