Illustration: Sarah Grillo/Axios

As hospital prices rise and much of the sector continues to rake in cash, rural hospitals continue to shutter.

Why it matters: There's no way to address U.S. health care spending without cutting hospital costs. But blanket cuts could hurt hospitals that are already struggling to keep their doors open, leaving vulnerable patients without access to care.

Driving the news: At least 30 hospitals entered bankruptcy in 2019, Bloomberg reported last week.

  • Rural hospitals' hardships have been well-documented: They serve a shrinking population that has high health needs and is disproportionately uninsured or covered by government insurance.
  • The shutdown of an urban hospital in Philadelphia is evidence that it's not just rural areas that are facing hospital closures.

Yes, but: Some hospital systems are reaping in hefty profits.

  • In an analysis of 48 not-for-profit hospital systems, my colleague Bob Herman last year found that their net profit margin was 8.6%.
  • Bob has also reported that "not-for-profit hospital systems increasingly operate more like corporate titans on the stock exchanges than the charities they promote themselves to be."
  • Private insurers pay hospitals, on average, 241% of what Medicare pays for the same services, and hospitals are by far the largest contributor to U.S. health spending.

Go deeper: How "Medicare for All" would affect hospitals

Go deeper

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 12 p.m. ET: 10,920,457 — Total deaths: 522,385 — Total recoveries — 5,789,032Map.
  2. U.S.: Total confirmed cases as of 12 p.m. ET: 2,753,754 — Total deaths: 128,871 — Total recoveries: 781,970 — Total tested: 33,462,181Map.
  3. Public health: The states where face coverings are mandatory Fauci says it has been a "very disturbing week" for the spread of the coronavirus in the U.S.
  4. Business: Top business leaders urge the White House to develop mandatory mask guidelines.
  5. Economy: The economy may recover just quickly enough to kill political interest in more stimulus.
  6. States: Florida reports more than 10,000 new coronavirus cases, and its most-infected county issues curfew.
2 hours ago - Sports

Washington Redskins to review team name amid public pressure

Photo: Patrick McDermott/Getty Images

The Washington Redskins have announced they will be conducting a review of the team's name after mounting pressure from the public and corporate sponsors.

Why it matters: This review is the first formal step the Redskins are taking since the debate surrounding the name first began. It comes after weeks of discussions between the team and the NFL, the team said.

Scoop: Instacart raises another $100 million

Illustration: Sarah Grillo/Axios Visuals

Grocery delivery company Instacart has raised $100 million in new funding, on top of the $225 million it announced last month, the company tells Axios. This brings its valuation to $13.8 billion.

Why it matters: This funding comes at what could be an inflection point for Instacart, as customers it acquired during coronavirus lockdowns decide whether they want to continue with the service or resume in-person grocery shopping.