With the shutdown of elective surgeries, hospitals have taken a financial hit from Covid-19. Even as physicians worry that the pandemic has weakened the financial strength of their organizations, they remain cautious about how quickly elective surgeries will rebound. According to Bain & Company’s latest survey of frontline providers, conducted with Dynata, only 60% of physicians report that their organizations are equipped with the testing, personal protective equipment and other conditions necessary for elective surgeries to resume fully. Although states have begun to loosen restrictions on elective procedures, surgeons do not expect to return to full procedure volume in the near term, forecasting that they will be performing 60% of their normal volume of surgeries in June 2020 and 75% by September 2020.
As the global pandemic deepens and the human cost of Covid-19 rises, the novel coronavirus outbreak is sending shocks through the world economy. But across industries, companies can take action now to protect their employees and customers and minimize the economic damage.
Joshua Weisbrod, a Bain & Company partner based in New York, leads the firm’s Healthcare practice in the Americas. Michael Brookshire is a partner in Bain’s Healthcare practice and is based in Dallas. Erin Ney is a board-certified internist and an expert manager in Bain’s Healthcare practice; she is based in Boston.
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