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Study suggests hospitals will continue to struggle from COVID-19 financial impacts in 2021

CHARLESTON, S.C. (WCSC) – The coronavirus pandemic has taken a monetary toll on hospitals throughout the state and the nation, and a brand new examine suggests they is probably not within the clear simply but as they face new and persevering with challenges this 12 months.

Whereas issues are actually extra constructive right this moment than they had been a 12 months in the past because the coronavirus pandemic was first taking its maintain on the Palmetto State, 2021 won’t convey a complete return to regular for hospital funds.

“Our forecast that complete hospital revenues in 2021 may very well be down between $53 billion and $122 billion (four p.c to 10 p.c of complete income) is unhealthy information, certainly,” the examine launched by the American Hospital Affiliation acknowledged. “Whether or not restoration from COVID-19 in 2021 is comparatively speedy or comparatively sluggish, America’s hospitals will face one other 12 months of wrestle to regain their monetary well being whereas offering obligatory care and providers to a nation that’s persevering with to expertise the results of an unprecedented pandemic.”

The examine means that even below essentially the most optimistic state of affairs, together with a clean vaccine roll-out and lowered COVID-19 hospitalizations, 39 p.c of hospitals would function within the pink in 2021, and rural hospitals will likely be particularly impacted.

“As hospital executives, policymakers, and different stakeholders search to grasp hospitals’ monetary state in 2021, a brand new set of interconnected elements should be thought-about; Restoration of hospital volumes: The diploma and tempo at which inpatient, outpatient, and emergency division volumes return; COVID-19 vaccine progress: The supply of vaccines, the pace of distribution, and the prioritization of various populations for vaccination; Decline in COVID-19 instances: The diploma and tempo at which COVID-19 instances decline, primarily based on public use of social distancing and achievement of herd immunity,” the examine acknowledged.

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