California Hospitals Face Billions in Losses

Friday, May 8, 2020

As the health care industry continues to fight the coronavirus, the impact of the pandemic has devastated our hospitals, costing them $10 to $14 billion in losses. From the Modesto Bee:

“CHA President Carmela Coyle said: ‘We emptied California’s hospitals to make way, canceling surgeries, procedures and more because it was and continues to be the right thing to do, but meeting that moment to address the COVID outbreak has come at a devastating loss and risk for California’s hospitals.’

“The hospital association sent a letter to Gov. Gavin Newsom on Wednesday, asking for $1 billion in financial assistance out of the state’s current fiscal budget, said Coyle, who was joined on a conference call by CHA board members Diane Hansen of Escondido-based Palomar Health and Scott Reiner of Roseville-based Adventist Health.”

California hospitals have lost up to an estimated $14 billion in revenue because of the postponing of elective surgeries, procedures and non-emergency services in their effort to prepare for a coronavirus surge that has yet to happen. These hospitals are now asking the State Legislature to approve $1 billion in financial aid and relief.

Read full article here:
https://www.modbee.com/news/california/article242571466.html

Read letter here:
https://www.calhospital.org/media-statement/california-hospital-leaders-sound-alarm-immediate-financial-relief-needed-keep