A new report estimates the COVID-19 pandemic will result in billion-dollar losses for Kentucky hospitals by the end of 2020.
The Kentucky Hospital Association released the report which found the COVID-19 pandemic will result in an estimated $2.6 billion dollar loss for hospitals in the commonwealth. Federal relief funds are expected to cover about 40% of the losses.
The report also says between 16 and 28 rural hospitals could shutter because of the financial damage.
Kentucky Hospital Association CEO and President Nancy Galvagni says the organization is concerned about rural hospitals at risk.
“If a rural hospital closes, 50 percent of the time, nothing comes in to replace it. If you think about all the people that are employed by those hospitals, doctors and nurses that are there and if there’s not that hospital there, then those health professionals are likely to leave that area," Galvagni said.
Much of the rural hospital revenue decline stems from a lack of elective procedures which were suspended from March until June.
