Modern Healthcare July 31, 2020
COVID-19 has been devastating for the American healthcare system. Hospitals are struggling with high demand for emergency and inpatient care, while non-emergency surgical services and outpatient care have plummeted. Meanwhile, the pandemic has had a domino effect on the economy which will also impact the healthcare sector in the months ahead.
The United States Commerce Department recently reported that gross domestic product fell an unprecedented 9.5 percent in the second quarter. Widespread shut-downs and sheltering-in-place have led to high levels of unemployment.
Job losses and reduced economic activity translate into lower tax revenues for states. The National Association of State Budget Officers (NASBO) reported that in April 2020, year-over-year tax collections fell by at least 50% in many states....
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