We got a message from the CEO of our healthcare system that a wave of pay reduction, furloughs, and job cuts are about to happen. He said that hospitals are hemorrhaging money because revenue from outpatient services have dropped significantly during the pandemic.

I had to look up how much how much revenue hospitals generate with inpatient vs outpatient services. It makes sense now:

The gap between inpatient and hospital outpatient revenue narrowed, with outpatient dollars accounting for nearly half of total hospital revenue by 2018, a new report shows.

https://revcycleintelligence.com/news/inpatient-no-longer-king-as-hospital-outpatient-revenue-grows

List of outpatient services per Medicare: https://www.medicare.gov/coverage/outpatient-hospital-services

I don't know how much doctors and nurses will be affected by this. We will find out by the end of the week.