Coronavirus forced American hospitals into the worst economic crisis

Coronavirus forced American hospitals into the worst economic crisis
July 02
07:28 2020

American hospitals are facing the worst economic crisis because of the Covid-19 pandemic. Coronavirus is said to cost the medical institutions no less than $323 billion in 2020 because of a lower volume of patients and higher equipment and personnel expenses, as reported by International Business Times.

Although this number is already high enough to determine the crisis as the worst in history for the American hospitals, it might not make up the complete picture of losses that medical institutions will face by the end of the year, because current increases in cases in some of the states are not taken into account.

Most hospitals saw their major income from elective surgeries, which this year has decreased significantly. Inpatient volume reduced by 19.5% and outpatient by 34.5% compared to 2019 and does not seem to improve in the near future.

Only between the months of March and June, the losses of American hospitals were around $202.6 billion, and the expectations are that the rest of the year will bring another $120.5 billion in losses. As the volume of non-Covid-19 patients has lowered and will remain this way for some time, the hospitals will continue facing financial difficulties.

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