Hospital system access to capital and the COVID-19 pandemic
Sung J. Choi, Jeffrey S. McCullough · 2026
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Description
Hospitals borrow through tax-free bonds to build and equip their facilities, and the pandemic shook that market. Sung Choi and Jeffrey McCullough study bond records from 2019 into early 2021 in this 2026 paper to see how hospital borrowing changed.
Total issuance fell by about a third, with fewer and smaller deals. Yet interest costs stayed flat, which the authors credit to central bank action and relief funds. Smaller and rural systems leaned harder on outside capital, while big systems rode out the shock more easily. Local infection rates did not drive the pattern. The authors warn about debt loads at smaller systems going forward.
Catalog record
| CREATOR | Sung J. Choi, Jeffrey S. McCullough |
|---|---|
| YEAR | 2026 |
| COLLECTION | PAPERS |
| FORMAT | TXT |
| FILE SIZE | 48 KB |
| VERSION | 1.0 |
| LICENSE | CC BY 4.0 |
| RIGHTS | CC BY |
| SOURCE | Europe PMC |