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Healthcare Business Today
Philanthropic Aid Provides a Safety Net for Patients and Health Systems
AUGUST 28, 2020
America’s health systems have reached a breaking point in the COVID-19 environment, with many healthcare executives struggling to find a silver lining in the face of lost revenues. The American Hospital Association (AHA) estimates a total four-month financial impact of $202.6 billion in losses for America’s hospitals and health systems, or an average of $50.7 billion per month, due to the COVID-19 pandemic.
One ray of hope comes in the form of a progressive solution that quickly identifies financial relief for patients, especially those who are underinsured or uninsured, and helps health systems remain solvent and resilient. More than 10,000 medical financial aid programs fund $75 billion of patient care, and the volume of programs and funding continues to grow every year.
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