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Coronavirus could bankrupt some hospitals—What investors should know

CNBC Television10 days ago

CNBC''s Kelly Evans talks with Stifel chairman and CEO Ron Kruszewki about what is next for the health care industry amid the coronavirus pandemic. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi The CEO of a Houston-area hospital system told CNBC on Monday that Texas’ spike in coronavirus cases is impacting a greater number of people under 50 than earlier in the pandemic. “We are definitely seeing this affect young people, and they’re getting quite ill,” Houston Methodist CEO Dr. Marc Boom said on “Squawk Box.” “So we really need everybody to do their part.” About 60% of the Covid-19 patients currently in the eight-hospital system are under the age of 50, Boom said. “It has completely flipped” from the earlier stages of the crisis, when about 40% were under 50, he added. Previously, about 1 in 5 people in intensive care unit beds were under 50. Now, he said it is almost 1 in 3. Boom’s comments come as Texas and other states across the U.S. such as Arizona and California experience a growth in Covid-19 cases and hospitalizations. Harris County, Texas, which includes much of Houston, went to a red alert last week. Health officials have been warning that a larger number of young people are becoming sick, possibly as a result of going to bars and other similarly crowded venues that were able to reopen after strict business restrictions. Last week, in response to the increased cases, Gov. Greg Abbott in Texas and Gov. Ron DeSantis in Florida closed down bars in their respective states. California Gov. Gavin Newsom on Sunday took similar steps, shuttering bars in some of the state’s counties, including Los Angeles. Young people are considered to be at less risk of severe illness from Covid-19 compared with older adults and people who have underlying medical conditions. But while this recent resurgence of the virus appears to be hitting younger adults more significantly, health experts warn it could have broad consequences. »

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