Fierce Healthcare March 20, 2020
Moody’s Investor’s Services and Fitch Ratings are shifting the outlook to negative for non-profit hospitals as they scramble to respond to COVID-19.
In the wake of the global pandemic, hospital system finances are taking a beating.
Publicly-traded health system shares have plummeted in recent weeks as worried investors have shifted their focus to technology-powered businesses such as telehealth.
Now, Moody’s Investor’s Services is shifting the outlook for non-profit hospitals downward from stable to negative as they scramble to respond to COVID-19.
Overall, earnings are expected to decline over the next 12 to 18 months as caring for patients infected with the coronavirus increases costs and reduces profitability, officials said. Previously the rating’s agency projected EBITDA growth of 3% to...
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