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March 31, 2020

CHA: Coronavirus costing CT hospitals $400M a month

Photo | HBJ File Hartford Hospital, Hartford HealthCare's flagship hospital.
By Matt Pilon

Connecticut’s nearly 30 hospitals are collectively missing out on as much as $400 million in revenue per month, as the COVID-19 coronavirus drives up expenses and forces elective surgeries and other procedures to be postponed in order to preserve clinical resources and space, according to the Connecticut Hospital Association.

Individual hospitals like Bristol Hospital and UConn Health have recently detailed the income declines they could be facing, but the statewide number, provided to HBJ on Monday evening, is the first public estimate CHA has released.

CHA said the outbreak has forced hospitals to incur significant unanticipated expenditures of between $75 million and $100 million for supplies, equipment, staff training and outfitting of new medical space.

“Faced with this extraordinary circumstance, Connecticut’s hospitals are laser focused on providing the best patient care possible and are doing everything in our power to fight COVID-19,” CHA said in a statement.

Last week’s $2 trillion federal stimulus package contains $100 billion for hospitals alone, as well as other assistance that could help blunt some of the financial impacts on the healthcare system.

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