U.S. hospitals are losing millions of dollars per day in the midst of the Covid-19 pandemic and recovery may take years
Medical workers wearing masks walk past a ‘Thank You’ sign outside of Mount Sinai Hospital amid the coronavirus pandemic on May 3, 2020 in New York City.
Alexi Rosenfeld | Getty Images
When hospitals across the United States halted elective procedures back in March, they immediately started hemorrhaging revenue.
That’s in large part because U.S. health systems make a sizable chunk of their revenues from high-priced, non-emergency procedures. Conservative estimates indicate that U.S. hospitals are losing more than a billion dollars per day by complying with the guidance from policymakers and the leading medical associations to preserve resources for Covid-19 patients.
In the medical profession, elective procedures are surgeries that can be scheduled in advance, including many that are medically necessary. They are the financial foundation for many hospitals. Health systems bring in about $700 more per admission than emergency room …continued .
[Source: CNBC News]