Hospitals take financial hit due to COVID-19

(Photo Supplied/Indiana National Guard)

FORT WAYNE, Ind. (WOWO): The COVID-19 pandemic has affected every area of the United States economy – and hospitals are among the hardest hit.

The Journal Gazette reports that Parkview Health has reported a $110-million loss from mid-March through the end of May, although hospital officials say that cash reserves have kept the region’s largest health provider afloat and ensure the ability to continue to provide services.

Parkview officials say they don’t see the break-even point coming until at least the end of 2020. Double-digit losses to in-patient and outpatient services as well as surgery are blamed for the financial hit.

A Lutheran Health Network spokesman added that they, too, have been impacted by the pandemic, but did not provide financial details.

Hospitals that are members of the Indiana Hospital Association report at least an 8.3% operating loss, while hospitals in rural areas saw even bigger losses of close to 30%.

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