An Innovative Method for Hospital Cost Savings While Elective Surgeries Are Down

Elective surgeries have been and in certain cases still are postponed due to COVID-19. Elective procedures bring in anywhere from 40-60% of a hospital’s overall revenue. An estimated loss of $202.6 billion for hospitals between March 1, 2020 to June 30, 2020 was reported by the American Hospital Association. One of the largest health systems, Johns Hopkins University, was originally projected to bring in $72 million but is now expecting to lose $100 million. With hospitals in a cash crunch, it is imperative to manage costs in other areas.