It's believed that COVID-19-related elective surgery cancellations at hospitals and ASCs cost both facilities around $5 billion in lost revenue, a Kaiser Health News analysis published in Fortune concludes.
What you should know:
1. U.S. hospitals collect an annual market value between $15.5 billion and $21.5 billion for knee replacements. Hip replacements, which make up about half the volume of knee replacements, increase the total annual value to between $23 billion and $32 billion.
2. For every month a hospital or ASC shut down their knee replacement program, they lose between $1.3 billion and $1.8 billion; adding in hip replacements increases that figure to between $1.9 billion and $2.7 billion.
3. Hip and knee replacement rates more than doubled from 2000 to 2015, and with knee replacement rates expected to triple between 2020 and 2040.