BUSINESS REPORT

Health care industry leaders plan for new normal

BY Rhonda Schaffler, Correspondent |

COVID-19 upended the health care industry in New Jersey, and Monday leaders shared how things will look as they try to get back to a new normal. They offered testimony to a Senate panel ahead of next week’s resumption
of elective medical procedures. The leaders gave assurances that new safety protocols due to COVID-19 will remain in place and they talked about how the pandemic has changed their business.

The union representing many New Jersey public workers believes pending legislation to furlough workers won’t solve New Jersey’s looming budget deficit. Hetty Rosenstein, state director of the CWA union, says public workers can and should be filling key roles in the state during this crisis. She said the state needs more federal money to help keep people working.

Meantime, members of the state’s Congressional delegation are making another effort and getting more federal funding to New Jersey. Sen. Bob Menendez is introducing bipartisan legislation to provide $500 billion in emergency funding for state and local governments, with higher levels of compensation going to hard hit areas, like New Jersey.

Stock of the biopharma company Moderna soared after the company reported positive results from an early clinical trial of its potential vaccine for the coronavirus. Additional trials will be held in the next few weeks.