The revenue loss hospitals are experiencing is being caused by multiple factors, including increased costs for PPE and staffing. (Photo: Shutterstock)
Hospitals are in danger of closing as a result of the financial losses they've suffered due to the ongoing COVID-19 pandemic, according to a new report from the American Hospital Association.
The association is projecting that hospitals will lose at least a staggering $323.1 billion in revenue this year, as the pandemic drives up prices for key equipment and supplies while also cutting off certain dollar generators for hospitals. However, these losses are based on the assumption that hospitals and health systems will see "patient volumes return to baseline levels by July 2021," the AHA report said.
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David Thomas
I'm a reporter covering the business of law, with an emphasis on national and global law firms for The American Lawyer, Law.com and other ALM publications.
