Hospital Revenue Likely Will Fall $53B In 2021 — And That’s The Low Estimate
A report from the American Hospital Association said the drop could be as much as $122 billion compared to pre-pandemic levels.
Modern Healthcare:
COVID-19 Could Dent Hospital Revenue By At Least $53 Billion In 2021, AHA Says
Revenues across U.S. hospitals could be at least $53 billion lower in 2021 compared to pre-pandemic levels, according to a new study commissioned by the American Hospital Association as it asks lawmakers to boost COVID-19 relief funding. Regional health systems are still dealing with the fallout from delaying non-urgent procedures, depressed volumes, higher expenses as well as the physical and mental health toll of COVID-19 on their staff, provider executives said on a call with reporters Wednesday. Hospitals could experience a $53 billion decline in revenue this year if the vaccine is distributed effectively, volumes recover quickly and if COVID-19 cases continue to decline; those estimates rise to $122 billion in the worst-case scenario, according to Kaufman Hall's analysis. (Kacik, 2/24)
FierceHealthcare:
Kaufman Hall: Hospitals Could Lose Between $53B And $122B This Year Due To Pandemic
Hospitals could lose between $53 billion and $122 billion due to the lingering effects of COVID-19, depending on the speed of vaccine distribution and complete recovery of patient volumes, according to a new report from Kaufman Hall. The report, released Wednesday and commissioned by the American Hospital Association (AHA), details several factors that will continue to depress hospital finances this year. The report comes as the AHA is pressing Congress to include more money for the provider relief fund in its next package. (King, 2/24)
In other health care industry news —
Modern Healthcare:
Healthcare Construction Primed To Rebound Faster Than Other Sectors
While nonresidential construction is expected to continue to lag through much of 2021, healthcare is projected to fare better than other sectors like office and manufacturing, according to a new report. Nonresidential building construction starts were down 24% in 2020 compared to 2019, which is expected to drag overall construction spending in 2021, according to a new report from commercial real estate firm JLL that projects a 5% to 8% spending dip this year. While many long-term healthcare capital projects were put on hold last year, JLL expects those to resume by the end of the year. (Kacik, 2/24)
Chicago Tribune:
Chicago Hospital Cited By Feds For COVID-19-Related Safety Issues
Community First Medical Center in Portage Park is contesting a citation and $13,494 penalty issued by the federal Occupational Safety and Health Administration in December related to COVID-19 safety. OSHA inspectors found that the hospital did not develop and implement a written respiratory protection program in the time period they were examining. They also found that the hospital did not perform tests from June 9 to July 28 to make sure all the types of respirators that employees used on the job correctly fit their faces. (Schencker, 2/24)
Stat:
Hospital Chaplains Balance Covid Safety With Patients’ Spiritual Needs
Infection fears have never slowed down Rev. Moneka Thompson. For more than 10 years, she’s visited patients hospitalized at the University of Alabama at Birmingham with tuberculosis, chickenpox, and any myriad of other contagious diseases. Last March she began to pull on a mask and other personal protective equipment before meeting her first patient diagnosed with a then novel virus. But a nurse barred her from going inside. (Huff, 2/25)
