Prognosis
Virus Pushes America’s Hospitals to the Brink of Financial Ruin
- U.S. hospitals say they face more than $200 billion of losses
- Consultants predict a coming wave of bankruptcy filings
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The century-old Henry County Health Center in southeast Iowa was already losing money before the pandemic hit. With a shrinking number of births and trouble recruiting staff, it had planned to close its obstetrics department.
Then came the shutdown, which reduced the hospital’s revenue by half as profitable elective surgeries came to a halt. Even with some procedures set to start up again, Chief Financial Officer David Muhs sees no easy recovery.