Standalone nonprofit children’s hospitals have so far weathered the pandemic better than their adult counterparts. Reduced patient care revenues and profitability at pediatric hospitals were offset by a specialized clinical service mix and overall strong liquidity, according to Fitch Ratingsx, Fierce Healthcare reports.
In a new report on children’s hospital medians based on 22 providers’ 2020 financials, the ratings agency acknowledged that COVID-19 has had an “undeniable” negative impact on these facilities.
Median total operating revenue for the children’s hospitals reviewed by Fitch was flat year over year at $1.33 billion for 2020. Much of that stability was tied to an estimated $1.1 billion in provider relief funds received by the 22 hospitals, the agency noted. Read more.
