Prognosis
U.S. Hospitals Pushed to Financial Ruin as Nurses Quit During Pandemic
- Weaker groups losing out in bidding wars for caregivers
- Crucial lower-wage health-care workers also in dire need
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The U.S. health-care profession is suffering its own Great Resignation, pushing more hospitals into financial distress just as a winter surge of the coronavirus hits.
Across the country, hospitals are buckling under the strain of nursing shortfalls and the spiraling cost of hiring replacements. For Watsonville Community Hospital on California’s Central Coast, those costs became too much to bear, and contributed to the facility’s bankruptcy this month, according to a person familiar with the situation.
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U.S. Hospitals Pushed to Financial Ruin as Nurses Quit During Pandemic