The American Hospital Association says hospitals in the U.S. are losing more than $50 billion a month as elective procedures are paused during the COVID-19 outbreak.
According to CNBC, surgical stays make up about 48% of hospital revenues, making non-emergency elective procedures the financial foundation for many hospitals. Elective procedures can include colonoscopy, cataracts surgery or even hip replacement.
But while hospitals are losing money, the outlet reports that health insurance companies are seeing an increase in profits. Delays in elective procedures and preventive care are more than offsetting the added cost of paying for COVID-19 patients' care.
Medical experts report that doctors won't be able to resume normal levels of elective procedures until a treatment or a vaccine for COVID-19 is developed, and that it will likely take years for hospitals to financially rebound.
Contains footage from CNN.
