Treatment of coronavirus is draining hospital coffers. Consequences “could be dire”.

  • According to former Veterans Affairs Secretary David Shulkin, US hospitals could lose more than $500 billion in 100 days during the coronavirus pandemic.
  • Congress has appropriated $175 billion, not enough to close the gap
  • Shulkin warned, large hospitals could see capabilities and resources fade. Hospitals could be required to prioritize departments and teams and reduce research.
  • Some hospitals have already begun pay cuts, furloughs, and layoffs of staff.
  • “The consequences to the health care system are literally apocalyptic. In Pennsylvania alone, there will be $9 billion worth of losses, and maybe 30 percent of that will come back.”