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The five most important things to know about hospital financial losses amid the COVID-19 pandemic

On November 23, 2020, Becker's Hospital Review summarized the dramatic impact that delayed care was having on many of the country's hospitals.

Earlier this month, we covered a Becker’s Hospital Review article about the more than 30 hospitals forced to file for bankruptcy this year and described the factors that could put hospitals in that position. New data from Strata Decision Technology, as covered by Becker’s Hospital Review, takes a deeper look at one of the most acute challenges for hospitals in 2020: delayed patient care. While patients with COVID-19 are visiting hospitals for treatment, many others are delaying and canceling care altogether due to fear of exposure to COVID-19, according to data from Strata Decision Technology. The story is that patients are delaying elective procedures, but a review of the data begs the question of just how “elective” are elective procedures. Strata found that hospital visits declined for almost 30 service lines, including cancer treatment. The Strata data shows that the second wave (the third wave in some areas) is already having a more dramatic effect on hospitals and health systems, which we’re trying to stabilize after the first wave of the COVID-19 pandemic. The cycle keeps repeating: COVID-19 cases rise, patients delay care, hospitals adapt, and insures reap the benefits of the process. The challenges of the pandemic are far from over, and there’s plenty of time and room for insurers to step up to the plate for the greater good. In our opinion, until they are compelled by some external pressure to do otherwise, they will continue to profit off the pandemic while withholding precious resources from hospitals and providers.

Original Article:

Twenty-eight percent of hospitals in the U.S. reported losing money amid the COVID-19 resurgence, according to data from Strata Decision Technology, cited by Bloomberg Law.

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