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Across the U.S., hospital systems are bleeding money. The coronavirus is largely to blame, with most of the country suspending elective procedures and non-essential hospital services for the majority of spring.
The American Hospital Association (AHA), for example, estimates that COVID-19’s financial impact to hospitals and health systems over the four-month period from March 1 to June 30 will total $202.6 billion, with losses averaging over $50 billion per month.
In May, the chairman of the Department of Medicine at UC San Francisco, Dr. Bob Wachter, told CNBC that his hospitals were losing more than $5 million per day in April.