Triple whammy for hospitals, opposite for insurers

U.S. hospitals are losing around $50B per month due to the large number of cancelled elective procedures, costs associated with treating COVID-19 and an increased number of uninsured patients.

“I think it’s fair to say that hospitals are facing perhaps the greatest challenge that they have ever faced in their history,” said CEO of the American Hospital Association, Rick Pollack, calling the situation a “triple whammy.”

However, the net impact on U.S. health insurers is quite the opposite and is “going to be positive for them,” said Jeff Jonas of Gabelli Funds. “The costs from COVID-19 are going to be actually very small and more than outweighed by the deferral of elective procedures.”

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https://seekingalpha.com/news/3569788-triple-whammy-for-hospitals-opposite-for-insurers