“Across the U.S., hospital systems are bleeding money. The coronavirus is largely to blame, with most of the country suspending elective procedures and non-essential hospital services for the majority of spring.
The American Hospital Association (AHA), for example, estimates that COVID-19’s financial impact to hospitals and health systems over the four-month period from March 1 to June 30 will total $202.6 billion, with losses averaging over $50 billion per month.
In May, the chairman of the Department of Medicine at UC San Francisco, Dr. Bob Wachter, told CNBC that his hospitals were losing more than $5 million per day in April.
Meanwhile, admissions, surgeries and emergency department visits of HCA Healthcare, Tenet Healthcare Corporation, Community Health Systems Inc. and Universal Health Services Inc. all dropped 20% to 40% during the last two weeks of March, according to a Commonwealth Fund study released Friday. The situation for those large for-profit hospital systems was even bleaker in April, contributing to first-quarter aggregate operating profits dropping 13.5%.”
Read the full article here: https://homehealthcarenews.com/2020/06/as-hospitals-lose-50b-per-month-home-health-providers-consider-new-acquisition-opportunities/