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The nonprofit hospital and health care sector will continue to face credit risks from the coronavirus into 2021, according to a report released today by Moody’s Investors Service.

“Although federal government stimulus and emergency response funding will curb some of the losses, the assistance is unlikely to fully compensate hospitals,” the report notes.

“While financial recovery for the sector depends on restarting nonemergency or elective services, the pace and timing of that process will likely vary significantly by geography depending on when restrictions are lifted. A number of other variables will also affect patient volume, including hospitals' access to rapid coronavirus testing, supply chains, government policy, potential surges in more coronavirus cases, job losses and related changes in insurance coverage, and consumer fears about returning to a hospital.”