From today’s Los Angeles Times:
Healthcare workers, championed as heroes of the COVID-19 crisis and applauded for risking their lives to protect others, have been hit especially hard by the severe economic fallout wrought by the pandemic.
In California, thousands of nurses, doctors and other medical staff have been laid off or furloughed or have taken a pay cut since mid-March. The pain has been felt broadly, from major facilities such as Stanford Health Care to tiny rural hospitals to private practitioners. Across the nation, job losses in the healthcare sector have been second only to those in the restaurant industry, according to federal labor statistics.
Hospitals and doctors’ offices lost billions in revenue when they canceled elective surgeries and non-emergent visits to prepare for a possible surge in COVID-19 patients and to reduce the spread of the virus.
Patients also began scheduling fewer appointments and avoiding the hospital, even for medical emergencies, creating another hit for providers who were already hurting. The surge, in places where it did arrive, was not enough to compensate for the losses, experts say.
American healthcare is a business, and the economics are simple: Fewer patients means less money. And though some California hospitals are beginning to schedule elective surgeries again, experts say the healthcare industry is unlikely to bounce back immediately, as large swaths of the population are now struggling to make ends meet and may continue to avoid or put off medical care.
Read the complete article here.