Francis J. Serbaroli
Nothing in memory has been as disruptive to the health care sector—and the general economy—as the current coronavirus pandemic. Already challenged by reduced Medicare and Medicaid spending, increased costs, the shift to more outpatient services, greater demands for charity care, and other factors, many providers have had to shift to treating coronavirus patients and to suspend more profitable elective procedures and routine medical care. Moreover, many patients without coronavirus symptoms are becoming more reluctant to enter these facilities, even for routine medical care or procedures.
While the recently enacted CARES Act and the Paycheck Protection Program and Health Care Enhancement Act provide approximately $175 billion in funding to qualified providers such as hospitals and nursing homes, many providers may have to restructure their organizations financially either outside of or within the bankruptcy process.
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