Joint surgeries were among the first to be canceled or postponed in March and again in July in preparation for COVID-19 surges. Hospital finances have taken a hit from the deferments. Ramping up the lucrative surgeries will be needed for full financial recovery.
KHN and Stephen Thome, a healthcare consultant at Grant Thornton, estimated that knee replacements alone have an annual market value of between $15.5 billion and $21.5 billion. For the period the surgeries were shut down, Mr. Thome estimates hospitals and surgery centers experienced between a $1.3 billion and $1.8 billion loss on knee surgeries.
When hip replacements are included, monthly revenue losses rise to between $1.9 billion and $2.7 billion, according to California Healthline and KHN.
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