The Healthcare Hub

GHX provides a wide range of perspectives on how greater collaboration and visibility across the supply chain can improve both clinical and financial performance in healthcare.

Invoice and Payment Automation

COVID-19 Underscores Need for Healthcare Payment Process Reform

Monday, November 2, 2020

The COVID-19 pandemic has changed the financial landscape of the U.S. healthcare system. Hospitals continue to face increased supply and labor expense, decreased revenue from postponed elective procedures, and an increasing number of uninsured patients due to unemployment. The American Hospital Association estimated hospitals were losing $1 million per day in the early days of the pandemic. In addition, most providers have seen a loss of non-operating revenue from their investment portfolios as global financial markets waver due to the economic uncertainty.

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