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California hospitals struggle financially after preparing for COVID-19 surge that never came
Reuters ^ | May 28, 2020 | by Sharon Bernstein

Posted on 05/28/2020 5:01:21 AM PDT by Oldeconomybuyer

SACRAMENTO - As the novel coronavirus tore through Italy and then New York in March, California, anticipating a deadly surge in cases, ordered hospitals to shut down routine procedures and called in thousands of health care workers to help patients.

But the predicted surge never came.

And the cost of all that preparation - setting up field hospitals, doubling the number of intensive care rooms, purchasing protective equipment - dealt a blow to hospital bottom lines, while the ban on all non-emergency procedures cut revenues in half.

The measures drove hospitals in the most populous U.S. state close to bankruptcy, costing them as much as $14 billion and forcing them to lay off of thousands of health care workers, according to the California Hospital Association.

Now, reeling from the twin financial blows, hospitals are struggling to get ready for a possible new surge in cases this autumn, and wrestling with the question of whether they over-prepared last time around.

The industry is now asking the state for $1 billion in aid to help hospitals defray some of those costs and meet their financial obligations for the next few months, and another $3 billion in the new fiscal year beginning July 1.

“Most hospitals’ balance sheets have been trashed,” said Carmela Coyle, president of the California Hospital Association. “It’s a one-two punch that many hospitals will find it difficult to survive.”

Hardest hit were hospitals that treat large numbers of patients insured under the Medicaid program covering the poor and disabled, and the retiree Medicare program, she said.

(Excerpt) Read more at reuters.com ...


TOPICS: Business/Economy; Culture/Society; News/Current Events; US: California
KEYWORDS: china; hospitals; lockdown; virus

1 posted on 05/28/2020 5:01:21 AM PDT by Oldeconomybuyer
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To: Oldeconomybuyer

will the california politicians
1. pay the hospitals?
or
2. dole out trillions to criminal illegals?
or
3. keep the politicians’ pensions intact
NO MATTER WHAT?


2 posted on 05/28/2020 5:05:06 AM PDT by Diogenesis ( WWG1WGA)
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To: Oldeconomybuyer

It is like the Rats finally figutured out their Cloward-Piven strategy.


3 posted on 05/28/2020 5:06:42 AM PDT by Freedom_Is_Not_Free (What profits a man if he gains the world but loses his soul?)
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To: Oldeconomybuyer

““It’s a one-two punch that many hospitals will find it difficult to survive.”

Funny. I have nurse friends and the hospitals are already bankrupt due to the illegals always getting free treatments.


4 posted on 05/28/2020 5:07:00 AM PDT by max americana (fired liberal employees at every election since 2008 because I enjoy seeing them cry)
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To: Oldeconomybuyer

No bail outs.
You want money? Get the illegals to pay. ...keep LA county closed, that’s the ticket. ....


5 posted on 05/28/2020 5:37:26 AM PDT by redshawk ( I want my red balloon. ( https://youtu.be/V12H2mteniE))
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To: All

it just seems to me that the california shelter in place orders are going on for too long... also, the centralized planning does not seem to be helping the local economy.


6 posted on 05/28/2020 5:39:42 AM PDT by SteveH
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To: Oldeconomybuyer

“Now, reeling from the twin financial blows, hospitals are struggling to get ready for a possible new surge in cases this autumn, and wrestling with the question of whether they over-prepared last time around.”

Your way out of this is to do the opposite of whatever Fauci recommends.


7 posted on 05/28/2020 5:49:42 AM PDT by SharpRightTurn (Chuck Schumer--giving pond scum everywhere a bad name.)
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To: SharpRightTurn

RECAP:
Democrats impose lockdowns to protect hospitals.
Lockdowns force hospitals to go bankrupt.
Hospitals demand money from the Democrat State .
Democrat States demand money from Republican States who ended
lockdowns; while claiming they are better administrators.
Main Stream Media blames Republicans for destroying Democrat States
and urge the public to vote for Democrat administrators.


8 posted on 05/28/2020 8:45:47 AM PDT by CoastWatcher
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