Hospitals are losing millions of dollars per day in Covid-19 pandemic — and recovery may take years
. Private equity investor and public policy professor Meghan Fitzgerald, estimates through her own research that it's about $1 to $1.2 billion per day. "Many of these procedures were medically necessary, and -- yes -- profitable, enabling these institutions to serve all patients," she said.
"It's ironic in a middle of a pandemic that health care spending would be down," said Larry Levitt, the executive vice president for health policy at the nonprofit research group, the Kaiser Family Foundation. "But the losses in March and April have been astounding." "The places that will lose the money revenue are the ones that did everything right," said Stephen Klasko, CEO of Jefferson Health, a health system in the Philadelphia region. "They stopped elective surgery earlier in the spring, they paid for the inflated costs of medical supplies for their staff, and rolled out testing as soon as they could," he continued.
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