COVID-19 Pandemic Has Damaged Hospitals Financially, Report Indicates
- April 29, 2020
The RevCycle Intelligence (4/28, LaPointe) reports, “US hospitals are suffering from financial damage as a result of the COVID-19 pandemic, according to a new report from healthcare consulting firm Kaufman Hall.” The report looked at “financial performance of more than 800 hospitals in March 2020” and found “that hospital operating margins declined by 150 percent year-over-year, falling 170 percent below budget for the month.” Furthermore, “earnings before interest, taxes, and amortization (EBITA) operating margins also fell by more than 100 percent year-over-year as patient volumes and revenues across the board significantly declined in a matter of two to three weeks.”