Hospitals With Deep Financial Reserves Reportedly Receiving More Federal COVID-19 Aid Than Smaller, Poorer Hospitals
- May 26, 2020
The New York Times (5/25, A1, Drucker, Silver-Greenberg, Kliff) reports, “With states restricting hospitals from performing elective surgery and other nonessential services, [hospital] revenue has shriveled.” Since April, “the Department of Health and Human Services has disbursed $72 billion in grants...to hospitals and other health care providers through the bailout program, which was part of the CARES Act economic stimulus package,” and “the department plans to eventually distribute more than $100 billion more.” According to the Times, “So far, the riches are flowing in large part to hospitals that had already built up deep financial reserves to help them withstand an economic storm,” while, “smaller, poorer hospitals are receiving tiny amounts of federal aid by comparison.”