Today's word count is 1,355, or a 5-minute read.
Illustration: Sarah Grillo/Axios
Many hospitals may not make it out of the coronavirus pandemic, Axios' Bob Herman reports.
The big picture: The most vulnerable organizations — especially those that treat more old, poor and non-white patients — are teetering on the edge of existence and have to compete with larger, affluent hospitals for federal aid.
Where it stands: Wealthy hospital systems are sitting on billions of dollars in cash and investments, and they "are strongly positioned to take full advantage of whatever method the government sets for distributing the remainder of the bailout funds," Jordan Rau of Kaiser Health News recently reported.
The buzz: Bailout funds are rolling in, and they have been a lifeline for hospitals that had to postpone non-urgent procedures and for those treating large numbers of coronavirus patients.
What we're watching: The most politically connected hospital groups, which have large hospitals as core members, are already attempting to shape the next bailout package.
The bottom line: "We're helping the rich get richer and the poor stay poorer," Levy said.
Go deeper: The corporatization of hospital systems
Two new projections indicate that we've still got a long road ahead of us.
Driving the news: The Centers for Disease Control and Prevention is projecting that by June 1, the U.S. will see a surge in daily new coronavirus cases from about 25,000 to 200,000, and an increase in daily deaths from about 1,750 to about 3,000, according to an internal document obtained by the New York Times.
Separately, the Institute for Health Metrics and Evaluation at the University of Washington's School of Medicine nearly doubled its prediction of coronavirus fatalities, jumping to 134,000 coronavirus-related deaths by August.
My thought bubble: It may be tempting to think that we're reaching the end of the coronavirus tunnel, based on how political leaders are talking and acting. But according to every model I've seen, we're not.
In a matter of weeks, the coronavirus crisis has triggered indelible shifts in the way America works, Axios' Erica Pandey reports.
The U.S. Treasury will need to borrow a record $2.99 trillion this quarter to pay for coronavirus relief efforts, it announced Monday.
Multiple promising vaccines for the coronavirus are in development, Peter Marks, the director of the Food and Drug Administration's biologics center, said during an Axios virtual event Monday.
Legislatures around the world have been experimenting with remote deliberation during the pandemic, but Congress still insists on in-person voting, Axios' Bryan Walsh reports.
Carnival announced Monday it will restart some cruises departing from the U.S. on Aug. 1.
The world now appears to be moving beyond peak lockdown, with at least 12 countries loosening restrictions yesterday, Axios' Dave Lawler reports.
Spain and Italy, the European countries hardest-hit by the novel coronavirus, began reopening their economies in stages yesterday.
The leaders of nations, banks and organizations gathered Monday via video conference for an EU-led summit, collectively pledging 7.4 billion euros ($8 billion) toward research for a coronavirus vaccine, AP reports. The U.S. was noticeably absent.
Three months after Vietnam detected its first case of coronavirus, the country of more than 95 million hasn't reported a death from the virus and most of its 270 confirmed cases have recovered, the Wall Street Journal reports.
Most Americans say they doubt the U.S. death count, but whether they think it's actually higher or lower depends on whether they're Democrats or Republicans, according to the latest installment of the Axios-Ipsos Coronavirus Index.
Why it matters: This may be the most jarring evidence to date about just how deeply partisanship has infected our collective ability to trust institutional sources and agree on science and facts. Trust in government is abstract, but death counts are real, Axios' Margaret Talev writes.
Week 8 of our national weekly survey also finds trust in the federal government slipping to new lows, across party lines.
Reality check: The available data suggests those who believe we're undercounting coronavirus deaths may be right, says Axios health care editor Sam Baker.
The Food and Drug Administration is tightening its oversight of coronavirus antibody tests.
Why it matters: Antibody testing, which reveals whether someone has had the coronavirus, has been plagued by reports of inaccurate or unreliable tests.
Yes, but: An FDA official cautioned that even under the new guidance, the tests will still run the risk of high false positives in areas where the virus has only infected a small portion of the population.
"It may be necessary for some individuals to have two serology tests performed to generate reliable results," the FDA's Anand Shah and Jeff Shuren wrote in a blog post yesterday.
Go deeper: How coronavirus antibody tests will help
This pandemic may be caused by a virus, but desperate measures to save patients often include overprescribing antibiotics, which is raising concerns about furthering antibiotic resistance.
The bottom line: "Having a full and effective arsenal of antibiotics, antimicrobials and antifungals is an important component of being prepared for the next pandemic," Frank tells Axios.