Weatherhead’s JB Silvers discusses federal aid for hospitals and healthcare systems in the CARES Act

Why Michigan hospitals are laying off workers as they battle coronavirus

Bridge Magazine: JB Silvers, a professor of banking and finance at the Weatherhead School of Management, spoke about federal aid for hospitals and health care systems in the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which provides $100 billion in relief funds to support care of COVID-19 patients, and, importantly, cover lost revenue; Congress and the White House have since also agreed on a spending package that will add $75 billion to the CARES Act relief fund. Yet, Silvers said the full $175 billion likely won’t be enough to prevent collapse for some health systems if the pandemic lasts, or returns—and called for a national health system bailout on the order of the one given to keep U.S. banks afloat in 2008, which was at least $700 billion.