EYECARE: Coronavirus BRIEFING: Crisis Response Tactics Hospitals Bear Brunt of Financial Fallout From COVID By Staff Thursday, March 2, 2023 6:06 AM This year, March brings with it a joyless anniversary. It's been a long, arduous 3 years since the onset of the pandemic that overwhelmed our nation's hospitals and health systems. And, as of February 1, 2023, it resulted in a staggering 1,106,824 deaths in the U.S.When the federal government's Public Health Emergency for COVID-19 expires in mid-May, the country will enter a post-pandemic transition phase. What will this look like? Are we really out of the woods?True, our healthcare system has come a long way in combatting the virus and in tackling the myriad logistical challenges. But the damage inflicted on population health persists and the fallout from COVID continues to exact a substantial financial toll on hospitals and healthcare facilities.Findings of a status report published by the American Hospital Association underscore serious threats to the financial viability of hospitals in communities across the country. Compared with pre-pandemic levels: ● Profit margins were projected to be down 37%, with more than half of hospitals experiencing negative margins through 2022. ● Already substantially elevated, expenses were projected to increase by the end of 2022 to $135 billion over 2021 levels. ● Related challenges (e.g., staffing shortages, supply chain issues) have not abated.Head over to MedPage Today to read more about it.