From dwindling patient counts to the confusing reimbursement landscape, the financial challenges are causing hospitals to shut down, or file for bankruptcy.
At least 42 hospitals across the the country have closed or entered bankruptcy this year, and the suffering revenue flows caused by the COVID-19 pandemic may force more hospitals to do the same before the year is out.
According to a report from the American Hospital Association, COVID-19 has created a cash crunch for many hospitals across the nation.
They’re estimated to lose $200 billion between March 1st and the end of this month.
More than $161 billion of the expected revenue losses will have come from cancelled services, including non-elective surgeries and outpatient treatment.
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