A sharp revenue decline coupled with the higher costs of labor, supplies and treatment for COVID-19 patients will culminate in hospitals losing a collective $202.6 billion from March 1 to June 30, according to an estimate from the American Hospital Association. Revenue was more than halved for 40% of health systems that responded to an American Medical Group Association survey conducted in mid-April. Another 55% of respondents had less than six months cash on hand. More than 80% of systems had furloughed employees and three-quarters had cut physician salaries.
Read the full article: Financially Devastated Hospitals and Health Systems Face an Uncertain Future //
Source: https://www.modernhealthcare.com/finance/financially-devastated-hospitals-and-health-systems-face-uncertain-future