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Could Hospitals Close Because Of Coronavirus? US Healthcare May Face Financial Crisis In Aftermath

Health Care Practice Group Co-Leader Douglas Grimm was recently quoted in an International Business Times article discussing the potential destabilization of the US healthcare system as a result of the COVID-19 pandemic.

The current reality is putting significant financial pressures on hospitals as profitable elective surgeries are canceled to prevent the spread of infection and increase the availability of beds for COVID-19 patients.

“[T]he loss of elective surgeries is a particularly sharp blow to hospital finances. These surgeries often provide higher levels of reimbursement than for patients presenting with non-surgical diagnoses such as COVID-19,” he said, adding, “it’s too early to tell whether this financial pressure on the healthcare system will have specific marketplace effects such as mergers or acquisitions of physician practices or hospitals. But these significant financial changes will undoubtedly have some form of destabilization for the foreseeable future.”

To read the article, click here.

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