Hospitals face a triple threat with financial losses due to COVID-19, AHA President and CEO said today on CNBC.
“First, it’s the rising number of uninsured people because of people losing jobs. We take care of everyone that walks through our doors. The second is the increased expenses we’ve had to absorb in terms of both preparing for and caring for COVID patients and the communities we serve. And third, is reduced revenues by having to shut down regular operations.”
An AHA report released yesterday found the financial strain of COVID-19 on hospitals and health systems will continue through at least the end of the year, with total losses expected to be at least $323 billion in 2020.
Pollack also talked about the risk of rural hospital closures, especially since they were under strain before the pandemic. View the segment from the program here.