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Hospitals & Health Systems Facing Devastating Financial Challenges due to COVID-19 Pandemic

 

New Hampshire hospitals and health systems continue to face unprecedented financial challenges due to COVID-19, so we’re very pleased with Governor Sununu’s decision to allocate $24.9 million from the State Emergency Healthcare System Relief Fund to help hospitals confront the pandemic.  The additional funding of $24.9M is a welcomed allocation to those hospitals who have experienced a great financial burden as they responded to this ongoing pandemic.  

The COVID-19 pandemic continues to create significant financial pressures for hospitals throughout the state as they remain on the frontlines of the pandemic.  The critical steps hospitals took to prepare and respond to COVID-19 created drastic reductions in both inpatient and outpatient volume, the recovery of which will last long into the next year before pre-COVID baseline operating levels are realized.  These reductions in volume and revenue were made worse by increases in hospital expenses associated with purchasing personal protective equipment, ventilators and other supplies to strengthen their response. 

We’re grateful for this funding in support of those hospitals’ efforts in responding to the pandemic, but there’s no question that hospitals across New Hampshire face the greatest financial challenge in their history due to the pandemic and will need further significant financial support to help them navigate through this crisis in recognition of the hundreds of millions of dollars in lost revenue they have experienced to-date and will continue to experience in the months ahead.

We look forward to working with the Governor and our federal delegation on securing the critical financial resources our hospitals need to ensure they can continue to be there for their patients and communities today and into the future.

 

Steve Ahnen is president of the New Hampshire Hospital Association