U.S. Hospitals Pushed to Financial Ruin as Nurses Quit en Masse

U.S. Hospitals Pushed to Financial Ruin as Nurses Quit en Masse

Bloomberg via MSN Money

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.

EDITOR’S NOTE – Watsonville CA has possibly the highest percentage of ILLEGALS in the entire state North of the MX border. Agricultural community with about 84% hispanic residents.

The shortages are most acute at hospitals like Watsonville that rely on government funding to treat poorer patients, since they have fewer resources to compete against the rising cost of keeping staff. The situation adds to the stress facilities have already experienced responding to the early onset of the virus, just as the last of federal aid is being doled out.

“This is like survival stakes,” said Steven Shill, head of the health-care practice at advisory firm BDO USA. Winners are “whoever’s highest on the food chain and who has the biggest checkbook.” The staffing companies — agencies that provide nurses and other staff on a temporary basis — are “really, really, really gouging hospitals.”

Saint John’s Episcopal Hospital Chief Executive Officer Jerry Walsh has been on the losing side of those battles, beat out by larger, wealthier systems while laying out thousands of dollars a week more to pay what he calls “exorbitant” rates to outside agencies to keep his hospital properly staffed. St. John’s, in a remote corner of Queens, treats some of the city’s poorest and sickest patients and relies mainly on less-lucrative government-insured patients.

“This is the worst nursing shortage that I have witnessed in my career,” Maureen May, a 30-year veteran of the pediatric ICU and the president of the Pennsylvania Association of Staff Nurses and Allied Professionals, a union, said in an interview. 

The issue is emerging in the capital markets, too. Aveanna Healthcare Holdings Inc. went public in April in an effort to expand beyond its leading position in pediatric home health services. But a shortage of caregivers has pummeled its stock, while credit raters gave a debt issue to fund acquisitions low-tier junk level assessments.

More at Bloomberg via MSN Money

Header featured image (edited) credit: Watsonville CA Community Hospital Twitter Grab

Emphasis added by (TLB) editors



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10 Comments on U.S. Hospitals Pushed to Financial Ruin as Nurses Quit en Masse

  1. meanwhile India, Japan, Mexico & all the other countries with low vaccination rates are not having a big virus problem so no overwhelmed hospitals & no staff shortage as they are not giving health care workers a ultimatum ‘Jab or job’. Common denominator is they all treated the covid with IVM originally, everyone recovered, got lifetime immunity & there is countrywide heard immunity.

  2. Nurses who took the vaccine should demand a 50% increase in pay. If the hospitals fired all the others they have reduced the pool of available employees with no reduction in demand, so supply and demand should kick in. Demand pay increases to compensate for the higher health risks the vaccine causes.

  3. Why not just leave those glorious folks, these nurses, alone to practice their oath? Shame on you, you bastards. Get the jab, or get gone, my ass. Reap the whirlwind, leftist twits.

  4. I don’t understand all the wailing and gnashing of teeth by the hospitals. They told their employees that they would be fired if they didn’t get the jab. The employees took them up on it. Where’s the problem?

    I am an RN, myself, although retired for several years now. If I worked for one of these hospitals and was given that choice, it wouldn’t be a choice. I have read enough to convince me that the jabs are terribly dangerous, and no job is worth my life or my health.

  5. Doctors and nurses once heard a calling – far too many are now deaf to it.

    Almost every entity that exists 𝐭𝐨 𝐬𝐞𝐫𝐯𝐞 citizens has adopted the attitude that the masses need to “eat cake”. There is no way to fix this without paradigm collapse. Pity the generations that are living the nightmare, and those who will be born into it.

  6. Well, you treated them like dirt, forced them to take that poison jab, and condescendingly told them comply with or lose your job.
    I guess they showed you huh?
    Good riddance, those hospitals are just money mills anyways, rot away.
    Go work, go broke, deal with it.

  7. My congrats to those nurses who are putting their strongly held beliefs ahead of money and future risks of leaving their jobs. They are clearly informed by seeing firsthand the harm that health officials and medical associations are doing to the public and seeing the significant health risks of taking mRNA injections. The healthcare system is getting overwhelmed by the vaccinated due to mRNA jab adverse affects. Problem is, the ones who are left in healthcare to care for victims of all maladies are those practicing politics rather than medicine.

  8. And yet the health care industry is continuing to fire Nurses, Doctors and other staff for not getting the jab. I can’t feel sorry for them because most all vote at the alter of the great Obozo. Votes do have consequences don’t they sheep.

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