US hospitals' financial woes unlikely to subside in 2020 - Business Insider

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As political uncertainty muddles hospitals' abilities to strategize and healthcare's data breach crisis constricts margins, financial relief is unlikely to come in 2020:

that could potentially help hospitals shore up on admin spending. But uncertainty is making it hard to preemptively strategize: "How are you supposed to craft a business plan if you don't know if you're going to have an America with Medicare for All, or a complete repeal of the Affordable Care Act, or a million options in the middle?" Sam Maizel — who works on healthcare restructuring with law firm Dentons US LLP — posed to Bloomberg.

And we expect the data breach crisis plaguing healthcare to continue to become more pervasive — pushing already-struggling hospitals over the edge. In 2019, an average of breaches per month racked the healthcare industry — more than double 2010's monthly average. Breaches place a huge financial burden on organizations: The overall cost of a healthcare data breach has grown from $398 per affected record in 2015 to $429 per record in 2019.

 

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