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
WATCH: ‘The First Wave’ director Matthew Heineman discusses his new documentary, which tells the stories of how New York City healthcare workers and first responders were impacted by the Covid-19 outbreak.Source: Bloomberg
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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 bankruptcyBloomberg Terminal 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