Minnesota hospitals are losing $31M a day in revenue, state association says

Hospitals in Minnesota are losing about $31 million in revenue per day due to the suspension of elective procedures, an association of state hospitals told lawmakers, according to The Star Tribune.

Minnesota Gov. Tim Waltz, like many U.S. governors, ordered hospitals in the state to halt nonemergency procedures to preserve scarce medical supplies and staff to care for COVID-19 patients.

Mary Krinkie, vice president for government relations at the Minnesota Hospital Association said that hospitals remain strong supporters of the order, but they are taking a huge financial hit. 

"Our hospitals right now in Minnesota are losing $31 million a day — $31 million a day — because of lost revenue from eliminating elective surgeries," Ms. Krinkie told lawmakers, according to The Star Tribune. "We made that decision because we had to keep as much personal protective equipment as possible, but this is causing enormous financial hardship for hospitals."

Rahul Koranne, MD, CEO of the Minnesota Hospital Association, added that the primary focus right now for hospitals is caring for COVID-19 patients and prepping for the influx, but the financial hit is an "important substory" to keep an eye on. 

Read the full report here

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