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Our hospitals have incurred major expenses fighting on the frontline against COVID-19, as they’ve increased bed capacity, purchased personal protective equipment and hired needed staff.
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This reflects about 25-30% of our hospitals’ patient service revenue in a year — a devastating blow to any business, but especially devastating to those businesses fighting on the front lines of COVID-19, which must also retain essential healthcare services 24/7.
This extreme fiscal stress has forced hospitals to take funding advances and loans, delay accounts payables, furlough thousands of staff and postpone much-needed capital projects, which has had a devastating impact on the state and regional economies.
The approximately $9 billion in federal support received through July by New York hospitals is just a drop in the bucket compared to the financial destruction COVID-19 has left in its wake.
Yet, even as New York hospitals plead for a lifeline from the federal government, they’ve continued to share the invaluable knowledge gained during their months spent as America’s largest COVID-19 hot spot.
This pandemic isn’t over. COVID-19 threatens to spike in New York again. Our hospitals need continued support from the federal government to remain ready to serve their communities during this pandemic and beyond.

Related:
U.S. hospitals are losing millions of dollars per day in the midst of the Covid-19 pandemic — and recovery may take years (CNBC)
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The COVID-19 pandemic has had a devastating economic impact on the state of New York, which now projects that revenue during the current fiscal year will be $13.3 billion lower than estimated earlier this year.
To maintain a balanced budget, New York will need to make drastic cuts, which could mean a 20% to 30% reduction in state Medicaid funding. These cuts would be on top of $2 billion in Medicaid cuts recently adopted in the New York state budget.
Federal aid for state governments would provide critical support to mitigate these unprecedented midyear state reductions, which would most certainly extend to New York’s hospitals and health systems at a time when we can least afford it.

Related:
Layoffs and Losses: COVID-19 Leaves U.S. Hospitals in Financial Crisis (U.S. News and World Report)
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New York’s healthcare workers have risen to meet this ongoing, unprecedented challenge.
Without additional support to recognize the extraordinary cost of our COVID-19 response, many hospitals will struggle to survive.
Tell Congress not to forget about New York’s hospitals.
Contact your legislator