How serious is the financial situation facing a significant number of hospitals due to COVID-related losses?

COVID-related losses are significant for most hospitals. Ascension reported over $600 million in losses for 2020. This is likely not a one-time problem that may go away. The lingering government-ordered shutdowns (with the potential for government-ordered snapback shutdowns) will continue to influence underutilization of non-COVID care. The upcoming flu season will add confounding factors to a perceptive COVID panic. In addition, many healthcare workers—especially the more experienced (“older”) workers may retire early—exacerbating worker shortages.

Are we likely to see a wave of ...