Surviving the COVID-19 Revenue Crisis

Health and safety concerns surrounding the COVID-19 pandemic caused an unprecedented shutdown of services at hospitals and health systems across the country, and the financial fallout has been devastating.

As the virus begins to recede in many areas and hospitals look to reopen their nonessential operations, they know it’s not a simple matter of flipping the lights back on and returning to business as usual. Recovering maximum revenue while keeping patients and employees safe requires a new approach.

Healthcare finance leaders now need a game plan to help their organizations address patient engagement concerns, the recent drop in both inpatient and outpatient volume, and capital spending demands to prepare for a possible second surge. In this first report of a three-part series, finance leaders from Southwest General Health Center, Catholic Medical Center, and Mount Sinai South Nassau weigh in on how to rebuild, beginning with ramping up elective volume.