The pandemic hit hospitals like a perfect storm, exacerbating and conflating all three of their costliest areas of operation: labor, supplies and bad debt. A recent national survey of healthcare executives conducted by
Less efficient hospitals that were already wrestling with razor-thin operating margins prior to the outbreak are taking the hardest blows. One such example is a rural facility in
We don't pretend to know what the future of healthcare will look like in a post-COVID world, but what we do know is, if healthcare systems continue to operate with a "business as usual" attitude once we emerge from this perfect storm, they are all setting themselves up for an endurance course laced with choppy waters.
Footnotes
1: https://www.kff.org/health-costs/press-release/new-analysis-finds-inpatient-coronavirus-treatment-costs-could-top-20k-for-patients-with-employer-coverage/
2:
3: https://www.fiercehealthcare.com/hospitals/aha-half-u-s-hospitals-could-be-operating-red-by-end-year
4: https://www.hcinnovationgroup.com/finance-revenue-cycle/news/21140501/study-rural-hospitals-financial-viability-is-mixed-challenging
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
Mr
12th Floor
WA, 98101
© Mondaq Ltd, 2021 - Tel. +44 (0)20 8544 8300 - http://www.mondaq.com, source