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A report released in April 2021 details how the COVID-19 pandemic damaged the financial health of California’s more than 400 hospitals in 2020, and forecasts continued fiscal impacts through 2021 and possibly beyond. Even after factoring in federal financial support provided last year through the CARES Act, California hospitals still lost more than $8 billion in 2020. California hospitals are expected to lose an additional $600 million to $2 billion this year, depending on vaccination rates and the path of the virus. Hospital operating margins are expected to decline between 19% and 65% in 2021.
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