Hospital finances are on life support as the COVID-19 pandemic continues. And without a quick windfall from the feds, many could shutter permanently, according to a new report by FierceHealthcare.
The brief (PDF) from the Federation of American Hospitals (FAH) outlines the many ways they’re taking a hit, and the group is urging federal officials to step in quickly or risk closures, especially for rural facilities.
Hospitals are facing a one-two punch of financial struggles, according to the report. A rise in patients seeking care for COVID-19 in tandem brings a rise in uncompensated care, while the number of other procedures has plummeted.